Hollister Robert F: insider trades

Officer at Sonida Senior Living, Inc. No open-market purchases and 13 sales not made under a pre-set plan, reported from January 6, 2010 to March 12, 2018.

What happened after Hollister Robert F’s sales?

After their sales, the shares moved −11.4% against the index over 12 months on average (a negative figure means selling was the right call); 77% 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

Hollister Robert F: trades against the S&P 500 afterwards
Measured	Trades counted	Average vs S&P 500	Median	Went the right way	Years	t-statistic	p-value	Evidence
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	13	+0.8%	−4.3%	62%	9	0.62	0.55	No reliable evidence
Sales, 12 months after the report	13	−11.4%	−31.2%	77%	9	−0.13	0.90	No reliable evidence
Sales, 12 months after the trade	12	−13.0%	−29.3%	83%	8	−0.17	0.87	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

Company	Title on the latest filing	Purchases	Sales	First report	Latest report
Sonida Senior Living, Inc. SNDA	Property Controller	0	13	January 6, 2010	March 12, 2018

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

Reported	Traded	Company	Trade	Value	3 months after report	12 months after report	12 months after trade
March 12, 2018	March 9, 2018	SNDA	Sale	$21,497	−12.1%	−67.7%	−65.3%
May 22, 2017	May 22, 2017	SNDA	Sale	$14,456	−18.7%	−41.3%	−42.1%
April 3, 2017	March 31, 2017	SNDA	Sale	$16,228	+5.7%	−36.0%	−38.1%
May 27, 2016	May 27, 2016	SNDA	Sale	$18,130	−10.4%	−41.8%	−39.5%
March 18, 2016	March 17, 2016	SNDA	Sale	$11,972	−0.7%	−39.5%	−42.1%
June 18, 2015	June 17, 2015	SNDA	Sale	$13,292	−7.8%	−31.9%	−30.4%
March 13, 2015	March 12, 2015	SNDA	Sale	$62,850	−4.3%	−31.2%	−28.1%
March 27, 2014	March 26, 2014	SNDA	Sale	$12,692	−12.0%	−14.9%	−12.4%
January 13, 2014	January 10, 2014	SNDA	Sale	$48,312	+2.1%	−11.6%	−16.3%
January 8, 2013	January 7, 2013	SNDA	Sale	$38,610	+22.3%	−1.9%	−2.8%
January 19, 2012	January 19, 2012	SNDA	Sale	$19,098	+12.7%	+141.7%	+154.0%
January 6, 2011	January 5, 2011	SNDA	Sale	$20,790	+41.0%	+6.9%	+6.8%
January 6, 2010	January 5, 2009	SNDA	Sale	$15,236	−7.8%	+20.8%	not yet

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