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Benacin Philippe: insider trades

Chief executive, Officer at Interparfums Inc. No open-market purchases and 37 sales not made under a pre-set plan, reported from September 29, 2010 to March 5, 2024.

What happened after Benacin Philippe’s sales?

After their sales, the shares moved −15.8% against the index over 12 months on average (a negative figure means selling was the right call); 95% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 37 −2.8% −6.8% 70% 7 −2.48 0.048 Some evidence: seller right
Sales, 12 months after the report 37 −15.8% −16.5% 95% 7 −2.58 0.042 Some evidence: seller right
Sales, 12 months after the trade 37 −13.7% −13.5% 95% 7 −2.37 0.056 No reliable evidence

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
Interparfums Inc IPAR President Interparfums SA037September 29, 2010March 5, 2024

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
March 5, 2024March 4, 2024 IPAR Sale $3,544,250 −18.6%−18.3%−17.2%
December 17, 2021December 15, 2021 IPAR Sale $1,726,910 −6.5%+16.3%+16.9%
December 18, 2019December 16, 2019 IPAR Sale $924,765 −15.8%−34.0%−35.7%
December 26, 2018December 21, 2018 IPAR Sale $1,206,851 +0.6%−21.6%−20.4%
June 7, 2013June 5, 2013 IPAR Sale $284,880 −15.0%−31.9%−26.3%
June 5, 2013June 3, 2013 IPAR Sale $616,888 −13.6%−26.9%−22.4%
June 4, 2013May 31, 2013 IPAR Sale $301,736 −11.4%−26.3%−20.0%
May 31, 2013May 29, 2013 IPAR Sale $765,141 −12.8%−22.4%−11.6%
May 23, 2013May 21, 2013 IPAR Sale $113,656 −6.3%−14.4%−16.2%
May 27, 2011May 25, 2011 IPAR Sale $768,079 −14.9%−29.0%−29.0%
May 26, 2011May 24, 2011 IPAR Sale $39,385 −15.3%−31.2%−24.8%
May 24, 2011May 20, 2011 IPAR Sale $703,062 −12.4%−29.0%−22.5%
May 20, 2011May 18, 2011 IPAR Sale $443,721 −9.5%−25.6%−24.5%
May 16, 2011May 13, 2011 IPAR Sale $233,050 −9.5%−25.2%−26.1%
May 13, 2011May 11, 2011 IPAR Sale $770,937 −9.4%−25.9%−16.5%
May 11, 2011May 9, 2011 IPAR Sale $647,215 −7.9%−23.0%−13.2%
March 15, 2011March 11, 2011 IPAR Sale $75,399 +26.7%−21.1%−16.1%
March 11, 2011March 9, 2011 IPAR Sale $282,985 +23.6%−17.8%−15.8%
March 2, 2011February 28, 2011 IPAR Sale $217,084 +18.7%−16.9%−9.2%
February 28, 2011February 24, 2011 IPAR Sale $164,886 +20.4%−11.8%−9.5%
February 22, 2011February 17, 2011 IPAR Sale $136,253 +15.1%−6.4%−8.0%
February 17, 2011February 15, 2011 IPAR Sale $212,557 +13.6%−9.8%−9.0%
February 14, 2011February 10, 2011 IPAR Sale $713,646 +15.6%−9.0%−8.1%
February 11, 2011February 9, 2011 IPAR Sale $113,781 +12.6%−9.6%−5.6%
February 8, 2011February 4, 2011 IPAR Sale $429,465 +3.3%−5.6%−4.6%
February 3, 2011February 1, 2011 IPAR Sale $403,353 +1.9%−4.6%−4.2%
December 3, 2010December 1, 2010 IPAR Sale $56,440 −9.9%−7.2%−13.5%
November 29, 2010November 24, 2010 IPAR Sale $124,198 −10.5%−20.4%−16.5%
November 23, 2010November 22, 2010 IPAR Sale $146,851 −11.3%−16.5%−16.0%
November 4, 2010November 2, 2010 IPAR Sale $733,603 −11.6%−5.1%−4.6%
November 1, 2010October 28, 2010 IPAR Sale $371,156 −8.5%−4.6%+1.5%
October 28, 2010October 26, 2010 IPAR Sale $715,235 −6.8%+1.0%−3.6%
October 21, 2010October 19, 2010 IPAR Sale $110,184 −4.8%−2.6%−9.4%
October 18, 2010October 14, 2010 IPAR Sale $268,430 −5.7%−9.4%−7.5%
October 7, 2010October 5, 2010 IPAR Sale $64,086 −1.4%−16.1%−7.5%
October 4, 2010September 30, 2010 IPAR Sale $163,922 −2.7%−7.5%−13.3%
September 29, 2010September 27, 2010 IPAR Sale $230,607 −2.5%−13.3%−15.7%

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Benacin Philippe traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.