Insiders Sell Shares at Pandora and Sonic

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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 Monday, September 23, 2013.

Notable Purchases:

  • Ares Capital Management II bought 8,000 shares of non-diversified, closed-end management investment company Ares Dynamic Credit Allocation Fund ( ARDC ) for $147,282. Ares Capital Management II, an affiliate of Ares Management LLC, serves as the fund's investment advisor.
  • At newly organized, non-diversified, closed-end management investment company THL Credit Senior Loan Fund ( TSLF ), CEO and CIO James Hunt and Senior Portfolio Manager James Fellows bought 5,000 shares each for $100,000 while another senior portfolio manager, Brian Good, bought 4,860 shares for $97,200.

Notable Sales:

  • Private equity and venture capital firm Capital Crosslink sold 5,200,000 shares of Internet radio company Pandora ( P ) for $130,000,000.
  • Clifford Hudson, CEO of drive-in restaurant chain company Sonic ( SONC ), sold 300,000 shares of company stock for $5,530,910.

For more insider trades, see the charts below.

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

1

Ares Capital Mgt II

O

Ares DC Alloc Fd

ARDC

B

$147,282

2

Hutton James A

PR,DIR

Eflo Energy

EFLO

B

$110,000

3

Hunt James K

CEO,CIO

Thl Cr Sr Loan Fd

TSLF

B

$100,000

4

Fellows James R

O

Thl Cr Sr Loan Fd

TSLF

B

$100,000

5

Good Brian W

O

Thl Cr Sr Loan Fd

TSLF

B

$97,200

6

Dickins Denise

DIR

Watsco

WSO

JB*

$50,516

7

Sims Luke E

PR,CEO,DIR

Eagle Cap Gr Fd

GRF

B

$48,443

8

Kopple Robert C

BO

Cardero Resource

CDY

B

$42,951

9

Ao Partners I

DIR,BO

Air T

AIRT

B

$36,738

10

Ottley Properties

DIR,BO

Ckx Lands

CKX

B

$33,988


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

1

Crosslink Capital

BO

Pandora Media

P

JS*

$130,000,000

2

Hudson J Clifford

CEO,DIR

Sonic

SONC

S

$5,530,910

3

Schlessinger David

CB,DIR

Five Below

FIVE

S

$4,665,000

4

Nohra Guy P

DIR

Acelrx Pharm

ACRX

AS

$1,675,580

5

Morgenthaler Part

BO

Peregrine Semi

PSMI

AS

$1,557,580

6

Moore J Stuart

DIR

Sapient

SAPE

AS

$1,556,000

7

Topfer Morton L

DIR

Measurement Spec

MEAS

AS

$1,300,000

8

Franklin Resources

BO

Dynegy

DYN

S

$1,056,890

9

Burgess Brent P W

FO,DIR

Triangle Capital

TCAP

AS

$1,040,509

10

Marxe & Greenhse

BO

Crumbs Bake Shop

CRMB

S

$1,004,137

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."



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: ARDC , P , SONC , TSLF

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