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Levenstein Cecelia: insider trades

10% owner at Unifirst Corp. No open-market purchases and 14 sales not made under a pre-set plan, reported from June 20, 2012 to June 24, 2024.

What happened after Levenstein Cecelia’s sales?

After their sales, the shares moved −1.0% against the index over 12 months on average (a negative figure means selling was the right call); 57% 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 −2.1% −3.5% 64% 5 0.11 0.92 No reliable evidence
Sales, 12 months after the report 14 −1.0% −6.1% 57% 5 0.44 0.68 No reliable evidence
Sales, 12 months after the trade 14 −0.9% −6.6% 57% 5 0.46 0.67 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
Unifirst Corp UNF —014June 20, 2012June 24, 2024

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 24, 2024June 21, 2024 UNF Sale $1,498,844 +17.8%+7.2%+8.3%
June 21, 2024June 20, 2024 UNF Sale $1,491,972 +15.4%+5.3%+11.2%
June 14, 2024June 12, 2024 UNF Sale $856,680 +17.9%+8.3%+7.3%
June 5, 2024June 3, 2024 UNF Sale $3,967,670 +15.5%+8.0%+6.1%
August 27, 2019August 23, 2019 UNF Sale $2,279,631 −3.8%−23.4%−22.5%
August 23, 2019August 21, 2019 UNF Sale $1,698,172 −3.3%−22.2%−23.6%
July 23, 2018July 23, 2018 UNF Sale $94,390 −16.5%−6.3%−8.5%
July 23, 2018July 20, 2018 UNF Sale $373,960 −16.5%−6.3%−7.4%
July 20, 2018July 19, 2018 UNF Sale $465,850 −17.5%−8.5%−7.3%
July 18, 2018July 18, 2018 UNF Sale $332,910 −18.4%−7.3%−5.8%
July 17, 2018July 16, 2018 UNF Sale $638,023 −11.5%−5.8%−7.8%
July 12, 2018July 11, 2018 UNF Sale $887,246 −14.6%−11.2%−10.7%
March 21, 2016March 17, 2016 UNF Sale $437,640 −1.8%+2.7%+4.9%
June 20, 2012June 19, 2012 UNF Sale $232,200 +7.4%+45.5%+43.3%

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