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Coon W William Jr: insider trades

Director, Other at Willis Lease Finance Corp. No open-market purchases and 14 sales not made under a pre-set plan, reported from June 9, 2010 to March 31, 2015.

What happened after Coon W William Jr’s sales?

After their sales, the shares moved −3.0% against the index over 12 months on average (a negative figure means selling was the right call); 43% 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 −3.3% −3.9% 79% 6 −1.50 0.19 No reliable evidence
Sales, 12 months after the report 14 −3.0% +3.0% 43% 6 −0.63 0.55 No reliable evidence
Sales, 12 months after the trade 14 −3.8% +3.0% 43% 6 −0.54 0.61 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
Willis Lease Finance Corp WLFC —014June 9, 2010March 31, 2015

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 31, 2015March 30, 2015 WLFC Sale $82,361 −3.6%+11.7%+14.2%
March 19, 2015March 18, 2015 WLFC Sale $27,875 −4.5%+17.1%+15.0%
March 17, 2015March 13, 2015 WLFC Sale $58,202 −4.9%+15.0%+7.8%
September 8, 2014September 5, 2014 WLFC Sale $22,564 −4.1%−22.7%−19.3%
August 27, 2014August 25, 2014 WLFC Sale $20,868 −1.6%−23.9%−29.4%
August 25, 2014August 21, 2014 WLFC Sale $19,792 −6.8%−30.2%−34.7%
August 20, 2014August 20, 2014 WLFC Sale $23,000 −8.6%−34.7%−37.0%
November 15, 2013November 13, 2013 WLFC Sale $12,659 −3.4%+5.5%+4.5%
November 13, 2013November 11, 2013 WLFC Sale $11,951 −1.9%+6.7%+1.6%
June 3, 2013May 30, 2013 WLFC Sale $37,800 +8.5%+25.8%+18.1%
May 30, 2013May 28, 2013 WLFC Sale $14,122 +5.4%+17.7%+23.5%
May 31, 2012May 29, 2012 WLFC Sale $46,844 −14.2%−28.8%−21.0%
May 31, 2011May 26, 2011 WLFC Sale $72,501 +5.3%−2.3%−3.0%
June 9, 2010June 7, 2010 WLFC Sale $49,457 −11.1%+0.4%+6.4%

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