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Marrs Douglas W: insider trades

Officer, Other at Great Southern Bancorp, Inc. No open-market purchases and 24 sales not made under a pre-set plan, reported from November 28, 2011 to May 10, 2021.

What happened after Marrs Douglas W’s sales?

After their sales, the shares moved −5.7% against the index over 12 months on average (a negative figure means selling was the right call); 75% 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 24 −5.2% −5.2% 71% 10 −2.29 0.048 Some evidence: seller right
Sales, 12 months after the report 24 −5.7% −6.0% 75% 10 −0.63 0.55 No reliable evidence
Sales, 12 months after the trade 24 −6.1% −7.0% 71% 10 −0.65 0.53 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
Great Southern Bancorp, Inc. GSBC Secretary024November 28, 2011May 10, 2021

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
May 10, 2021May 10, 2021 GSBC Sale $127,600 −11.4%+8.5%+9.9%
November 9, 2020November 9, 2020 GSBC Sale $28,175 +1.8%−1.5%+2.8%
December 2, 2019November 27, 2019 GSBC Sale $38,219 −13.4%−37.6%−35.3%
November 15, 2019November 15, 2019 GSBC Sale $42,630 −11.2%−35.3%−37.2%
November 13, 2019November 12, 2019 GSBC Sale $76,812 −13.7%−39.7%−41.0%
January 29, 2019January 28, 2019 GSBC Sale $33,250 +2.0%−7.7%−11.7%
November 26, 2018November 21, 2018 GSBC Sale $135,115 +2.8%−2.3%−3.4%
May 23, 2018May 22, 2018 GSBC Sale $52,756 +0.6%−4.2%−5.3%
April 24, 2018April 24, 2018 GSBC Sale $33,281 +4.3%−2.2%−4.1%
November 30, 2017November 29, 2017 GSBC Sale $34,969 −9.6%−4.4%−6.8%
October 25, 2017October 24, 2017 GSBC Sale $34,175 −18.4%−7.4%−8.4%
April 27, 2017April 26, 2017 GSBC Sale $33,056 −1.1%−5.8%−9.7%
November 28, 2016November 28, 2016 GSBC Sale $31,050 −7.7%−7.9%−11.3%
November 16, 2016November 16, 2016 GSBC Sale $84,962 −1.6%−8.4%−11.9%
December 2, 2015November 30, 2015 GSBC Sale $32,019 −19.0%−6.5%−7.2%
November 24, 2015November 23, 2015 GSBC Sale $50,560 −19.1%−6.2%−5.6%
October 27, 2015October 26, 2015 GSBC Sale $340,830 −13.7%−20.2%−18.6%
February 27, 2015February 26, 2015 GSBC Sale $78,414 +3.4%+8.9%+9.3%
October 28, 2014October 27, 2014 GSBC Sale $190,115 −2.2%+31.8%+33.7%
August 12, 2014August 11, 2014 GSBC Sale $45,486 +22.7%+25.7%+25.6%
February 19, 2014February 18, 2014 GSBC Sale $26,676 −0.5%+19.2%+18.4%
July 30, 2012July 30, 2012 GSBC Sale $101,896 −10.1%−28.2%−24.9%
February 10, 2012February 10, 2012 GSBC Sale $15,206 −7.5%−15.2%−13.0%
November 28, 2011November 25, 2011 GSBC Sale $18,518 −3.0%+10.7%+8.2%

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 Marrs Douglas W traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.