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, July 10, 2013.
- Daniel Ivascyn, the manager of the non-diversified, close-ended management investment company PIMCO Dynamic Income Fund ( PDI ), bought 35,997 shares of company stock for $991,030.
- Phillip Frost, the Chairman and CEO of multi-national pharmaceutical and diagnostics company Opko Health ( OPK ), bought 42,100 shares of company stock for $303,227.
- The independent investor Lloyd Miller III bought 31,965 shares of franchise restaurant chain Cosi ( COSI ) for $67,727.
- The employee-owned hedge fund sponsor Empire Capital Management sold 400,000 shares of global Internet and mobile cloud monitoring and testing company Keynote Systems ( KEYN ) for $7,994,500.
For more insider trades, see the charts below.
Ivascyn Daniel J
Pimco Dyn Inc Fd
Frost Phillip Md
Miller Lloyd I Iii
Rosar Curtis A
WAM Def Op Fd
S Muoio & Co
Rausch David M
Empire Capital Mgt
Usrg Holdco V
Kupferberg Max L
NY Com Banc
West Cent Coop
Main Timothy L
Keane Robert S
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 Nasdaq, Inc.