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Barr Kevin A: insider trades

Officer, Other at Terex Corp. No open-market purchases and 24 sales not made under a pre-set plan, reported from March 4, 2011 to June 10, 2020.

What happened after Barr Kevin A’s sales?

After their sales, the shares moved +7.1% against the index over 12 months on average (a negative figure means selling was the right call); 67% 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 −4.8% −6.8% 63% 9 −1.06 0.32 No reliable evidence
Sales, 12 months after the report 24 +7.1% −17.5% 67% 9 0.42 0.68 No reliable evidence
Sales, 12 months after the trade 24 +4.8% −14.9% 58% 9 0.37 0.72 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
Terex Corp TEX Senior V. P. Human Resources024March 4, 2011June 10, 2020

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
June 10, 2020June 8, 2020 TEX Sale $116,922 −4.3%+128.3%+104.5%
June 2, 2020June 1, 2020 TEX Sale $83,157 −2.9%+159.8%+185.6%
May 1, 2020April 29, 2020 TEX Sale $281,675 +22.6%+223.7%+157.3%
December 18, 2019December 16, 2019 TEX Sale $148,714 −28.6%+0.4%+7.4%
November 26, 2019November 25, 2019 TEX Sale $291,900 −19.8%−4.6%−3.0%
November 12, 2019November 7, 2019 TEX Sale $412,098 −22.4%−20.9%−23.1%
September 17, 2018September 13, 2018 TEX Sale $458,739 −18.9%−36.3%−31.8%
August 29, 2018August 28, 2018 TEX Sale $396,500 −11.2%−40.0%−39.5%
March 9, 2018March 8, 2018 TEX Sale $1,006,159 +5.0%−18.2%−17.2%
September 15, 2017September 14, 2017 TEX Sale $115,453 −3.2%−25.4%−26.9%
August 10, 2017August 9, 2017 TEX Sale $424,930 +10.2%−17.3%−17.7%
August 7, 2017August 3, 2017 TEX Sale $583,778 +13.7%−17.8%−12.6%
June 12, 2017June 9, 2017 TEX Sale $363,124 +9.7%−2.6%+0.7%
November 14, 2016November 10, 2016 TEX Sale $323,054 +4.2%+30.9%+41.1%
August 23, 2016August 19, 2016 TEX Sale $237,500 +21.6%+45.0%+42.3%
May 21, 2014May 19, 2014 TEX Sale $237,781 −9.3%−40.4%−45.4%
March 6, 2014March 4, 2014 TEX Sale $1,049,265 −12.0%−55.1%−55.1%
February 28, 2014February 27, 2014 TEX Sale $145,727 −15.9%−54.7%−53.1%
February 25, 2014February 24, 2014 TEX Sale $260,100 −14.1%−53.5%−53.3%
March 18, 2013March 15, 2013 TEX Sale $200,862 −23.4%−3.6%+0.5%
September 20, 2012September 19, 2012 TEX Sale $49,591 +14.6%+25.3%+18.0%
September 4, 2012August 31, 2012 TEX Sale $110,450 +14.8%+27.9%+13.3%
March 8, 2011March 7, 2011 TEX Sale $282,827 −24.0%−38.3%−41.4%
March 4, 2011March 3, 2011 TEX Sale $267,353 −22.9%−41.4%−36.1%

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 Barr Kevin A traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.