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Barlett James E: insider trades

Officer at Ttec Holdings, Inc. No open-market purchases and 14 sales not made under a pre-set plan, reported from December 10, 2010 to March 18, 2016.

What happened after Barlett James E’s sales?

After their sales, the shares moved −13.2% against the index over 12 months on average (a negative figure means selling was the right call); 79% 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 14 −8.2% −8.3% 86% 6 −2.86 0.035 Some evidence: seller right
Sales, 12 months after the report 14 −13.2% −17.6% 79% 6 −2.53 0.052 No reliable evidence
Sales, 12 months after the trade 14 −12.4% −12.0% 79% 6 −2.56 0.051 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
Ttec Holdings, Inc. TTEC Vice Chairman014December 10, 2010March 18, 2016

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 18, 2016March 16, 2016 TTEC Sale $1,144,471 −1.5%−6.1%−5.3%
September 18, 2015September 16, 2015 TTEC Sale $416,405 +0.5%−4.9%−6.8%
September 16, 2015September 14, 2015 TTEC Sale $412,535 +1.9%−5.6%−5.8%
September 19, 2014September 18, 2014 TTEC Sale $262,398 −11.4%+6.1%+5.1%
September 17, 2014September 15, 2014 TTEC Sale $793,320 −10.9%+5.1%+3.7%
September 12, 2014September 10, 2014 TTEC Sale $262,250 −14.2%+3.7%+4.6%
December 6, 2013December 4, 2013 TTEC Sale $139,967 −7.0%−23.3%−25.0%
December 4, 2013December 2, 2013 TTEC Sale $791,449 −7.6%−24.8%−24.4%
December 2, 2013November 27, 2013 TTEC Sale $912,638 −8.2%−24.5%−26.0%
November 27, 2013November 25, 2013 TTEC Sale $58,570 −8.4%−25.1%−22.0%
August 9, 2013August 8, 2013 TTEC Sale $1,044,122 −4.4%−13.6%−4.0%
November 15, 2011November 11, 2011 TTEC Sale $376,466 −10.3%−21.6%−17.3%
December 14, 2010December 10, 2010 TTEC Sale $285,286 −18.0%−26.3%−25.6%
December 10, 2010December 8, 2010 TTEC Sale $494,840 −14.9%−24.1%−24.7%

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 Barlett James E traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.