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Thor James E: insider trades

Officer at Rush Enterprises Inc \tx\. No open-market purchases and 12 sales not made under a pre-set plan, reported from October 31, 2011 to June 9, 2020.

What happened after Thor James E’s sales?

After their sales, the shares moved +4.1% against the index over 12 months on average (a negative figure means selling was the right call); 67% 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 +3.5% +5.9% 33% 7 1.23 0.26 No reliable evidence
Sales, 12 months after the report 12 +4.1% −6.7% 67% 7 0.21 0.84 No reliable evidence
Sales, 12 months after the trade 12 +1.9% −6.6% 67% 7 0.01 1.00 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
Rush Enterprises Inc \tx\ RUSHA Senior Vice President012October 31, 2011June 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
June 9, 2020June 5, 2020 RUSHA Sale $1,841,196 +9.3%+29.1%+22.9%
November 22, 2017November 20, 2017 RUSHA Sale $1,178,540 −18.8%−25.6%−27.3%
August 1, 2017July 28, 2017 RUSHA Sale $758,670 +18.0%−8.8%−11.7%
February 23, 2017February 21, 2017 RUSHA Sale $1,072,362 +0.3%−2.6%−2.8%
September 7, 2016September 6, 2016 RUSHA Sale $435,600 +30.3%+54.0%+50.4%
August 15, 2016August 11, 2016 RUSHA Sale $227,700 +20.6%+61.2%+57.4%
April 24, 2014April 23, 2014 RUSHA Sale $1,401,922 +2.5%−33.5%−35.9%
February 15, 2013February 15, 2013 RUSHA Sale $98,710 −1.8%−8.9%−5.9%
December 11, 2012December 10, 2012 RUSHA Sale $39,820 +21.7%+11.9%+11.4%
March 20, 2012March 19, 2012 RUSHA Sale $15,098 −26.5%−6.0%−7.2%
February 29, 2012February 28, 2012 RUSHA Sale $41,985 −25.3%−7.4%−9.5%
October 31, 2011October 27, 2011 RUSHA Sale $145,315 +12.3%−14.3%−18.8%

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 Thor James E traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.