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Insider Trades: Berkshire Hathaway Sells Shares of Moody's, and the Qatar Investment Authority Raises Its Stake in Tiffany

By: Minyanville
Posted: 5/2/2013 10:15:00 AM
Referenced Stocks: KEG;MCO;MHP;TIF;TRST

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 Wednesday, May 1, 2013.

Purchases: The Qatar Investment Authority, the sovereign wealth fund of Qatar founded in 2005 to manage the country's oil and natural gas surpluses, bought 272,700 shares of Tiffany & Co. ( TIF ) for $19,997,092, upping its total stake in the jewelry company to 16,222,436 shares, worth about $1.2 billion. On April 25, the company announced that it would be expanding its operation in Kentucky, investing $2 million to heighten manufacturing and polishing work at a Louisville factory, which will create 75 new jobs. The company's stock price is up 28.3% year-to-date and up 5.9% since this time last year.

Joseph Lucarelli, a Director of savings and loan holding company TrustCo Bank ( TRST ), bought 100,000 shares of company stock for $535,400. Lucarelli, as a member of the board of directors at the company, serves as the Chairman of the Compensation Committee, a member of the Nominating Committee, and a member of the Audit Committee. The company's stock price has decreased 4.56% in the last month and 6.1% since this time last year.

Richard Alario, the CEO, President, and Chairman of onshore, rig-based well servicing contractor Key Energy ( KEG ), bought 50,000 shares of company for $298,181. On April 26, the company announced its Q1 2013 earnings, with revenue coming in at $428.4 million, 12% lower than the same quarter in 2012 and short of the $443.8 consensus analyst estimate, and earnings per share of $0.01, missing the $0.03 estimate. The company's stock price is down 21.54% since April 25, and it is down 55.41% since this time last year.

Sales: Berkshire Hathaway (NYSE:BRK.A) sold 1,746,700 shares of Moody's ( MCO ) for $105,603,968, decreasing its total stake in the company to 26,668,550 shares, worth over $1.6 billion at the current stock price of $60.51. Moody's and its primary competitor in the credit ratings business, S&P, which is owned by McGraw Hill Companies Inc. ( MHP ), have both been under pressure from the Justice Department regarding overly optimistic ratings during the credit boom. Both companies have considerable power to determine market prices with their ratings; the Justice Department's pursuit of civil lawsuits against the firms has done little to curb their influence. Moody's stock price is up 20.07% year-to-date and 50.52% since this time last year.

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

1

Qatar Invest

BO

Tiffany

TIF

B

$19,997,092

2

EMC

BO

VMware

VMW

B

$14,995,509

3

Lucarelli Joseph

DIR

TrustCo Bank

TRST

B

$535,400

4

Frost Phillip Md

CEO,CB,BO

Opko Health

OPK

B

$300,955

5

Alario Richard J

CEO,PR,CB

Key Energy

KEG

B

$298,181

6

Greehey William

DIR,BO

Nustar Gp

NSH

B

$296,897

7

Calamos John P

CB,CEO,BO

Calamos Asset

CLMS

B

$232,694

8

Listwin Donald J

DIR

Calix

CALX

B

$211,700

9

Templeton Mark

DIR

Equifax

EFX

B

$202,884

10

Pyott David E I

DIR

Edwards Life

EW

B

$188,850


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

1

Berkshire Hathaway

BO

Moodys

MCO

S

$105,603,968

2

Cabela Richard N

CB,DIR,BO

Cabelas

CAB

S

$46,267,240

3

Miller Mark C

CB,DIR

Stericycle

SRCL

S

$10,813,540

4

Kullman Ellen J

CB,CEO,DIR

DuPont De Nem

DD

S

$6,759,205

5

Nierenberg Inv Mgt

BO

Asset Accept

AACC

S

$5,339,212

6

Clancy Paul J

VP,CFO

Biogen Idec

BIIB

AS

$5,259,506

7

Drummond Jose

VP

Whirlpool

WHR

S

$5,011,826

8

Chou Francis

BO

Overstock.Com

OSTK

S

$4,888,955

9

Blinn Mark A

PR,CEO,DIR

Flowserve

FLS

S

$4,418,943

10

Brown Jay A

VP,CFO,TR

Crown Castle

CCI

S

$3,092,092

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