Top Insider Trades: INWK, HK, XNCR, ZINC

By Jonathan Moreland, founder of Insider Insights and author of Profit From Legal Insider Trading.

NEW YORK ( TheStreet) -- It is a victory for common sense. Tracking the trading behavior of company executives, directors and large shareholders in the stocks of firms they're registered in as "insiders" has proven to be profitable, according to both academic studies and (more importantly) the experience of professional investors.

Below are lists of the top 10 mainly open-market insider purchases and sales filed at the Securities and Exchange Commission Friday, Dec. 6, 2013 as ranked by dollar value. Please note, however, that these are only factual lists, not buy and sell recommendations. Dollar value is only one metric to assess the importance of an insider transaction, and, frankly, often not even the most important metric that determines if an insider transaction is significant.

At InsiderInsights.com, we find new investment ideas just about every day using these and more intricate insider screens to determine where we should focus our subsequent fundamental and technical analysis. And while stocks don't (or shouldn't) move up or down based on insider activity alone, insiders tend to be good indicators of when real stock-moving events like earnings surprises, corporate actions, and new products may be in the offing.

So use these regular Top Insider Trades columns as the initial research tools they are meant to be, and click the links in the tables to analyze a company's or insider's full insider history. Also feel free to contact us with any questions on our proprietary insider data, and how it is best analyzed.
Xencor (XNCR) Stafford John S Jr BO 275,000 1,512,500
Innerworkings (INWK) Sagard Capital BO 108,700 727,540
Aircastle (AYR) Marubeni DIR,BO 30,000 542,754
Horsehead Hldg (ZINC) Dalal Street BO 30,166 421,721
Calamos Asset (CLMS) Calamos John P CB,CEO,BO 30,998 335,110
Halcon Resources (HK) Mize Mark VP,CFO,TR 50,000 199,898
Thl Cr Sr Loan Fd (TSLF) Fellows James R O 10,000 177,191
Halcon Resources (HK) Cusack Charles VP,COO 40,000 152,320
Relm Wireless (RWC) Privet Fund Mgt BO 42,191 143,138
Columbia Prop Tr (CXP) McCabe Murray J DIR 4,390 99,872
Source: Insider Insights
Receptos (RCPT) Rastetter William DIR 500,000 13,815,000
Facebook (FB) Sandberg Sheryl COO,DIR 283,334 13,437,377
Medidata (MDSO) Sherif Tarek CB,CEO 53,290 6,292,540
Philip Morris Intl (PM) Camilleri Louis C CB,DIR 60,000 5,131,290
Medidata (MDSO) De Vries Glen M PR,DIR 43,289 5,113,031
Apollo Global (APO) Harris Joshua MD,DIR,BO 122,100 3,680,184
DYAX (DYAX) Kempner Thomas DIR 400,000 3,347,571
KCG (KCG) Serenity Inv BO 248,428 2,819,658
Actavis (ACT) Joyce R Todd CFO 14,600 2,421,061
Union Pacific (UNP) Donohue Thomas DIR 14,162 2,310,348
Source: Insider Insights

Key to Titles: A=Assistant, AI=Affiliated Investor, AO=Accounting Officer, BD=Business Development, BO=Beneficial Owner, CAO=Chief Accounting Officer, CB=Chairman, CCO=Chief Compliance Officer, CEO=Chief Executive Officer, CFO=Chief Financial Officer, CIO=Chief Information Officer, CO=Compliance Officer, COO=Chief Operating Officer, CT=Controller, CTO=Chief Technology Officer, DIR=Director, EVP=Executive Vice President, F=Founder, FO=Financial Officer, GC=General Counsel, HR=Human Resources, IO=Information Officer, IR=Investor Relations, LO=Legal Officer, MD=Managing Director, O=Officer, OO=Operating Officer, PR=President, PT=Partner, REL=Relative of an insider, SEC=Secretary, SH=Shareholder, SO=Sales Officer, TO=Technology Officer, TR=Treasurer, TT=Trustee, VCB=Vice Chairman, VP=Vice President, X=Ex Officer or other title displayed.

Jonathan Moreland is the founder of InsiderInsights.com, which produces a weekly newsletter and offers professional screening and alerting tools to analyze a proprietary, real-time insider data feed. He is also the principal of Insider Asset Management, a registered investment adviser in New York. Mr. Moreland has been analyzing insider data professionally for two decades and has been a contributor to TheStreet.com since 2001. A fundamental analyst with an MBA in finance, Mr. Moreland long ago identified insider data as an excellent first screen to determine where to focus his research efforts. He is quoted frequently in the media for his insider analysis and stock recommendations stemming from it. He is also author of Profit From Legal Insider Trading.

Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. While he cannot provide investment advice or recommendations, Moreland appreciates your feedback; click here to send him an email.

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