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Davidson Robert C Jr: insider trades

Director at 2 companies we cover. 2 open-market purchases and 14 sales not made under a pre-set plan, reported from February 14, 2011 to November 21, 2025.

Would copying Davidson Robert C Jr’s purchases have beaten the S&P 500?

Too few purchases to judge. None of their purchases has 12 months of prices after the report; we judge insiders once they have 20. The figures below can swing a long way on a handful of trades. After their sales, the shares moved −7.4% against the index over 12 months on average (a negative figure means selling was the right call); 77% trailed it. None of their purchases could be priced, so there is no copy portfolio.

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 −0.4% −3.3% 64% 10 0.30 0.77 No reliable evidence
Sales, 12 months after the report 13 −7.4% −7.2% 77% 9 −2.00 0.080 No reliable evidence
Sales, 12 months after the trade 14 −3.7% −6.3% 71% 10 −0.19 0.85 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
Jacobs Solutions J —013February 14, 2011February 17, 2021
Broadway Financial Corp DE BYFC —21July 5, 2012November 21, 2025

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
November 21, 2025October 2, 2025 BYFC Sale $74,340 +27.7%not yet+44.2%
February 17, 2021February 12, 2021 J Sale $401,490 +16.0%−7.0%−7.3%
February 11, 2020February 7, 2020 J Sale $336,000 −11.3%−1.3%−5.0%
June 11, 2018June 7, 2018 J Sale $46,165 +8.3%+13.6%+16.2%
February 16, 2017February 14, 2017 J Sale $285,000 −9.5%−8.1%−5.7%
May 16, 2016May 13, 2016 J Sale $123,825 +1.9%−12.1%−12.0%
February 19, 2015February 18, 2015 J Sale $218,700 −1.8%−7.2%−6.6%
October 16, 2014October 16, 2014 BYFC Purchase $100,000 not yetnot yetnot yet
September 26, 2013September 25, 2013 J Sale $233,440 −2.6%−33.9%−33.4%
September 13, 2013September 12, 2013 J Sale $58,050 −8.2%−28.9%−28.1%
January 29, 2013January 28, 2013 J Sale $48,640 −3.9%+6.7%+7.0%
December 26, 2012December 21, 2012 J Sale $128,490 +19.5%+13.3%+12.0%
July 5, 2012July 2, 2012 BYFC Purchase $25,000 not yetnot yetnot yet
February 21, 2012February 17, 2012 J Sale $45,600 −16.0%−5.7%−6.0%
February 7, 2012February 6, 2012 J Sale $139,170 −15.1%−10.4%−11.6%
February 14, 2011February 11, 2011 J Sale $412,880 −10.5%−15.3%−15.0%

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 Davidson Robert C Jr traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.