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Ingram Robert W: insider trades

Director at Globe Life. No open-market purchases and 15 sales not made under a pre-set plan, reported from February 13, 2012 to November 9, 2022.

What happened after Ingram Robert W’s sales?

After their sales, the shares moved +4.9% against the index over 12 months on average (a negative figure means selling was the right call); 47% 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 15 +2.5% +2.7% 33% 10 1.13 0.29 No reliable evidence
Sales, 12 months after the report 15 +4.9% +3.2% 47% 10 1.19 0.26 No reliable evidence
Sales, 12 months after the trade 15 +5.0% +5.8% 47% 10 1.37 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
Globe Life GL —015February 13, 2012November 9, 2022

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 9, 2022November 1, 2022 GL Sale $485,457 +2.9%−9.8%−11.5%
August 16, 2022August 16, 2022 GL Sale $143,579 +15.3%+5.6%+5.8%
February 22, 2022February 22, 2022 GL Sale $419,360 −1.7%+23.7%+22.0%
December 23, 2021December 23, 2021 GL Sale $20,290 +13.8%+49.2%+48.0%
August 12, 2021August 12, 2021 GL Sale $131,463 −7.3%+10.0%+10.4%
July 29, 2019July 29, 2019 GL Sale $163,410 +4.5%−21.5%−22.6%
April 30, 2019April 29, 2019 GL Sale $25,476 +2.4%−6.5%−3.7%
August 29, 2018August 27, 2018 GL Sale $26,021 +4.9%−0.8%−2.7%
August 1, 2018July 31, 2018 GL Sale $132,365 +1.9%−3.7%−5.5%
July 31, 2017July 28, 2017 GL Sale $143,712 +2.7%−4.6%−2.9%
August 2, 2016July 29, 2016 GL Sale $132,095 +5.0%+12.6%+12.7%
July 31, 2015July 29, 2015 GL Sale $135,597 −6.3%−6.2%−3.2%
August 4, 2014July 31, 2014 GL Sale $91,013 −5.5%+7.6%+6.8%
March 7, 2013March 5, 2013 GL Sale $1,032,300 +5.2%+14.7%+14.3%
February 13, 2012February 9, 2012 GL Sale $422,460 −1.1%+3.2%+6.6%

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