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Anderson Bradley S: insider trades

Director at D. R. Horton. No open-market purchases and 12 sales not made under a pre-set plan, reported from February 14, 2012 to December 18, 2023.

What happened after Anderson Bradley S’s sales?

After their sales, the shares moved +1.6% against the index over 12 months on average (a negative figure means selling was the right call); 58% 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 12 −1.1% −5.4% 67% 7 0.52 0.62 No reliable evidence
Sales, 12 months after the report 12 +1.6% −2.5% 58% 7 0.23 0.83 No reliable evidence
Sales, 12 months after the trade 12 +1.3% −3.3% 58% 8 0.56 0.59 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
D. R. Horton DHI —012February 14, 2012December 18, 2023

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
December 18, 2023December 14, 2023 DHI Sale $1,520,000 −2.7%−32.5%−33.1%
December 6, 2021December 6, 2021 DHI Sale $315,000 −13.5%−3.0%−6.8%
November 22, 2021November 19, 2021 DHI Sale $309,000 −10.5%−3.3%−5.6%
November 18, 2021November 17, 2021 DHI Sale $302,910 −12.9%−5.6%−4.2%
April 29, 2021April 27, 2021 DHI Sale $507,800 −8.1%−28.6%−28.5%
November 25, 2020November 19, 2020 DHI Sale $841,440 −2.5%+1.7%+4.4%
January 29, 2020January 28, 2020 DHI Sale $459,600 −10.6%+13.9%+6.4%
August 14, 2019August 13, 2019 DHI Sale $360,300 +6.6%+33.2%+32.8%
January 2, 2019December 28, 2018 DHI Sale $344,000 +4.2%+18.3%+22.0%
September 14, 2017September 13, 2017 DHI Sale $374,600 +29.2%−2.0%−2.4%
November 24, 2015November 24, 2015 DHI Sale $324,800 −11.2%−18.9%−18.4%
February 14, 2012February 13, 2012 DHI Sale $203,700 +18.5%+46.2%+48.7%

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 Anderson Bradley S traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.