In Insider Trading, Harbinger Increases Stake in Spectrum Brands; Family Dollar Sees Another Sale

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Welcome to our daily roundup of top insider trades. Here's a look at the most significant inside sales and purchases filed with the SEC on Tuesday, April 30, 2013.

Purchases: The holding company Harbinger Group Inc. ( HRG ) bought 106,100 shares of consumer products company Spectrum Brands ( SPB ) for $5,963,565. Spectrum's range of products is wide, including Rayovac Batteries, Stanley Hardware, Cutter bug spray, and Perfect Coat grooming products, to name a few. Yesterday, the Madison, Wisconsin-based company reported record results for fiscal 2013 2Q and reiterated its outlook for a fourth consecutive year of record performance. Net sales were $987.8 million, an increase of 32.4% over the same quarter last year. The company did report a net loss of $41.2 million and diluted loss per share of $0.79, which is a substantial increase in losses over the 2012 Q2. The losses were driven by nearly $40 million of additional costs related to the acquisition of Hardware & Home Improvement. The company's stock price is up 13.55% year-to-date and 48.92% since this time last year.

The Littlejohn Opportunities Master Fund, of the private equity and distressed securities firm Lilttlejohn & Co., LLC, bought 122,000 shares of commercial vehicle components manufacturer and supplier Accuride ( ACW ) for $583,466. The company's products include commercial vehicle wheels, truck body and chassis parts, and ductile castings, under the brands Accuride, Gunite, Imperial, and Brillion. On April 23, the company announced 1Q 2013 results, with net sales down to $192.5 million from $269.5 million in Q1 2012 and an operating loss of $6 million, down from a positive $7.2 million the year prior. The stock's price saw a drop after those earnings but has since recovered, from $4.35 the morning after the earnings report, to its current price of $5.14.

Aaron Mixon, the Chairman of Invacare ( IVC ), bought 45,700 shares of the home medical equipment and supplies distributor for $572,621. The company offers a wide array of non-acute health supplies for use in the home, including wheelchairs, pressure relieving mattresses, and respiratory therapy products. On April 25, the company announced its Q1 2013 earnings, with a loss of $0.36 per share, performing worse than analyst estimates of a $0.09 loss per share. The stock's price saw a dip, but since April 26 it is up 15.06%, though it is down 17.06% YTD.

Sales: Edward Garden, a Director of Family Dollar Stores ( FDO ), again sold shares of company stock, this time 79,600 shares for $5,006,958 (he sold 524,260 shares on April 29). The company operates over 7,400 general merchandise retail discount stores in 45 states. In company news, the Vice President of Supply Chain, Charles Gibson, is leaving the company to pursue other interests; a replacement has not yet been named. The company's stock price has decreased 3.28% YTD and 9.3% since this time last year. Meanwhile, its primary competitor, Dollar General Corp. (DG), has seem an increase 18.6% YTD and 9.39% since this time last year.

Insider Purchases
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value

1

Glaxosmithkline

BO

Theravance

THRX

JB*

$6,699,216

2

Harbinger

BO

Spectrum Brands

SPB

B

$5,963,565

3

Littlejohn Opp Fd

BO

Accuride

ACW

B

$583,466

4

Mixon Aaron M

CB,DIR

Invacare

IVC

B

$572,621

5

Bernick Howard B

DIR

Mead Johnson Nutr

MJN

B

$289,244

6

Frost Phillip Md

CEO,CB,BO

Opko Health

OPK

B

$171,592

7

Kumar Ganesh

CFO,VP

Oriental Financial

OFG

JB*

$132,765

8

Jenkins Benjamin

DIR

Capital One Finl

COF

B

$124,549

9

Rimmer Roy T Jr

BO

Tel Offshore Trust

TELOZ

B

$121,954

10

Raskind Peter E

DIR

Capital One Finl

COF

B

$114,340

Insider Sales
#: Filer Name Insider Titles Company Name Ticker Trans
Type
Dollar Value

1

Garden Edward P

DIR

Family Dollar

FDO

S

$5,006,958

2

Sawyer James S

VP,CFO

Praxair

PX

S

$4,299,556

3

Jacobson Mitchell

DIR,BO

MSC Industrial

MSM

S

$2,994,918

4

Kratochvil Jim M

CFO

Berry Plastics

BERY

S

$2,746,294

5

Krell Edward M

CEO,DIR

Destination Maternity

DEST

S

$2,087,482

6

Christian David A

VP,CEO

Dominion Resources

D

S

$1,836,480

7

Housenbold Jeffrey

PR,CEO,DIR

Shutterfly

SFLY

AS

$1,599,444

8

Kuepfer Marco

VP,FO,TR

Philip Morris Intl

PM

S

$952,059

9

Care Capital II

BO

Acura Pharm

ACUR

S

$886,650

10

Sider Scott P

PR

Hertz Global

HTZ

AS

$818,064

Source: InsiderInsights.com | Key to Insider Title and Trans Type Codes

An important note from Jonathan Moreland, founder of Insider Insights :

In a victory for common sense, it has been proven profitable -- by both academic studies and (more importantly) the experience of your fellow professional investors -- to monitor the trading behavior of company executives, directors, and large shareholders in the stocks of firms of which they're registered as "insiders."

Please note, however, that the lists above are strictly factual; they are 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.

Jonathan Moreland is also the author of " Profit From Legal Insider Trading."

Follow me on Twitter: @JoshWolonick and @Minyanville



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: ACW , FDO , HRG , IVC , SPB

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