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 Wednesday, Dec. 11, 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, 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.
Gen. Growth (GGP) Abu Dhabi Inv BO 2,568,934 54,384,332
Atlas Res. (ARP) Cooperman Leon G BO 475,654 9,128,988
Aircastle (AYR) Marubeni DIR,BO 30,000 551,445
Rlj Ent. (RLJE) Rlj Spac Acquisition BO 83,332 341,671
Acc Mid (ACMP) Stice J Michael CEO,DIR 5,900 301,024
Dws Muni Tr (KTF) Antosca Paul A,TR 25,000 292,143
Fifth St Sr (FSFR) Tannenbaum L M CEO,DIR 13,739 185,117
Gladstone (GAIN) Gladstone David CEO,DIR 24,000 181,102
Skywest (SKYW) Smith Keith DIR 10,000 150,900
Donegal (DGICB) Donegal Mutual Ins BO 6,000 142,500
Source: Insider Insights
Ac Mid (ACMP) Global Infra Inv BO 6,900,000 353,142,016
N Cruise (NCLH) Apollo Mgt Gp BO 8,250,000 265,397,552
D Friscos (DFRG) Grayken John P BO 6,194,667 114,756,208
B&N (BKS) Riggio Leonard CB,DIR 2,000,000 27,619,999
Silver Sp (SSNI) Kpcb Green BO 714,975 15,722,300
Ill Tool (ITW) McCormack Robert DIR 104,000 8,331,440
Goldfarb Morris CEO,DIR,BO 97,085 6,598,013
Tyler (TYL) Marr John S Jr CEO,DIR 47,379 4,747,896
Apollo (APO) Harris Joshua MD,DIR,BO 121,237 3,670,043
Fleetcor (FLT) Schmit William PR 30,000 3,552,483
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, 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 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.