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Van Bokhorst Willem: insider trades

Director at G III Apparel Group LTD. No open-market purchases and 16 sales not made under a pre-set plan, reported from September 9, 2010 to January 9, 2020.

What happened after Van Bokhorst Willem’s sales?

After their sales, the shares moved −6.9% against the index over 12 months on average (a negative figure means selling was the right call); 63% 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 16 −3.2% −0.2% 50% 9 −1.01 0.34 No reliable evidence
Sales, 12 months after the report 16 −6.9% −16.8% 63% 9 −0.99 0.35 No reliable evidence
Sales, 12 months after the trade 16 −5.6% −15.6% 63% 8 −1.40 0.20 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
G III Apparel Group LTD GIII —016September 9, 2010January 9, 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
January 9, 2020January 7, 2020 GIII Sale $155,946 −54.2%−30.6%−37.1%
July 16, 2018July 13, 2018 GIII Sale $410,585 −15.7%−51.7%−45.4%
June 18, 2018June 18, 2018 GIII Sale $94,000 −6.9%−53.3%−51.9%
December 28, 2017December 27, 2017 GIII Sale $282,000 +2.4%−18.2%−20.5%
July 17, 2015July 17, 2015 GIII Sale $353,200 −5.4%−32.8%−31.4%
April 7, 2015April 6, 2015 GIII Sale $606,797 +22.8%−17.3%−15.8%
January 13, 2015January 13, 2015 GIII Sale $314,805 +16.4%−9.2%−6.2%
January 2, 2014December 30, 2013 GIII Sale $293,680 +1.2%+24.9%+21.4%
December 23, 2013December 20, 2013 GIII Sale $340,000 −7.7%+18.9%+23.7%
July 17, 2013July 16, 2013 GIII Sale $318,502 +5.5%+42.2%+42.5%
June 7, 2013June 6, 2013 GIII Sale $199,400 +5.6%+47.0%+46.2%
October 17, 2012October 17, 2012 GIII Sale $194,000 −9.0%+27.0%+25.2%
March 29, 2012March 27, 2012 GIII Sale $59,000 −13.8%+20.9%+21.8%
April 1, 2011March 30, 2011 GIII Sale $35,000 −1.7%−32.4%−28.3%
October 13, 2010October 11, 2010 GIII Sale $310,520 +5.6%−16.2%−19.0%
September 9, 2010September 8, 2010 GIII Sale $74,475 +3.3%−29.4%−15.3%

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 Van Bokhorst Willem traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.