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 Friday, July 26, 2013.
JPMorgan Investment Management Inc, a Beneficial Owner of digital coupon marketplace RetailMeNot ( SALE ), bought 900,000 shares of company stock for $18,900,000. With a presence across websites, email newsletters, and social media, the company connects consumers with retailers and brands and holds contracts with over 10,000 retailers. The company had its IPO, which had been priced at $21 per share, on Friday, with shares opening at $26.50, and then reaching a high of $27.30.
Ryan Levenson, a Beneficial Owner of two-way radio communications equipment company RELM Wireless (NYSEMKT:RWC), bought 140,689 shares of company stock for $490,912, increasing his stake to 1,666,419 shares. RELM's portfolio of products includes two-way land mobile radios, repeaters, and base stations. On July 25, the company celebrated 65 years as an American manufacturing company. In the last three months, the company's stock value has increased 47.19%, with a year-to-date increase of 102.38%.
Eric Schmidt, the Chairman of Google ( GOOG ), sold 86,949 shares of the tech giant's stock for $77,468,854. Google had two major product announcements last week, with the new Nexus 7 tablet and the Chromecast streaming media player, a $35 HDMI stick that allows consumers to use their smartphone, laptop, or tablet to stream content directly from the Internet to a TV. In the past three months, Google's stock price has increased 8.7% and is up 25.86% YTD.
Peter Oppenheimer, the Senior Vice President and CFO of Apple ( AAPL ), sold 37,172 shares of company stock for $16,367,203. This morning, a photo of a pile of plastic cases labeled "iPhone 5C" was posted on the Chinese online forum WeiPhone. It is possible that this is the company's much-rumored low-cost iPhone, but obviously the image should be taken with a big grain of salt. Apple's stock is up 1.60% so far in today's trading. It is up 12.74% over the last three months, but it has decreased 16% YTD.
JP Morgan Inv Mgt
Intl Stem Cell
Sixth Fl Investors
Becker Drapkin Mgt
Special Div Opps
Goodrich T Michael
Harrison Michael J
King Thomas B
Lanznar Howard S
Schmidt Eric E
Palmieri Paul J
Gorman Stephen E
Delta Air Lines
Apax Europe Iv Gp
Hicks Muse Eq Fd
Peters Lauren B
Sachs Bruce I
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.