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. 27, 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.

             Top 10 Open-Market Purchases
Opko Health (OPK) Frost Phillip Md CEO,CB,BO 19,400 171,641
Clough Gl Op Fd (GLO) Canty James E TT 5,270 69,280
Fidelity Natl Info (FIS) Muma Leslie M DIR 1,000 52,539
Farm & Merch Banc (FMCB) Colombini Jay J VP 100 41,700
Retrophin (RTRX) Golding Cornelius DIR 3,000 22,500
Xg Technology (XGTI) Cuccio Gary DIR 10,000 16,606
Future Hlth Of Am (FUTU) Spencer Christopher CEO,DIR 100,000 11,537
Rlj Entertainment (RLJE) Johnson Robert L CB,DIR,BO 1,800 7,770
Rlj Entertainment (RLJE) Rlj Spac Acquisition BO 1,800 7,770
Jabil Circuit (JBL) Brooks Martha DIR 300 4,976
Source: Insider Insights
                Top 10 Open-Market Sales
Google (GOOG) Schmidt Eric E CB,DIR 46,315 51,479,988
Cumulus Media (CMLS) Ba Capital DIR 300,000 2,290,000
Wellpoint (WLP) Zoretic Richard C VP 20,000 1,835,800
Rex American (REX) Rose Stuart A CEO,DIR,BO 35,000 1,598,562
Atrion (ATRI) Battat Emile A CB,DIR 5,204 1,514,624
Kilroy Realty (KRC) Kilroy John B Jr CB,CEO,DIR 25,000 1,264,500
Alkermes (ALKS) Bloom Floyd E DIR 20,000 819,332
Buckeye Partners (BPL) Smith Clark C CEO,PR,DIR 10,000 703,873
Cummins (CMI) Freeland Richard PR 5,000 700,000
Biomarin Pharm (BMRN) Bienaime Jean CEO,DIR 10,000 687,143
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.