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Andreacchi Anthony P: insider trades

Officer at Silgan Holdings Inc. No open-market purchases and 16 sales not made under a pre-set plan, reported from August 27, 2010 to May 1, 2020.

What happened after Andreacchi Anthony P’s sales?

After their sales, the shares moved −6.1% against the index over 12 months on average (a negative figure means selling was the right call); 56% 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 −3.0% −2.3% 69% 10 −2.45 0.037 Some evidence: seller right
Sales, 12 months after the report 16 −6.1% −7.5% 56% 10 −1.22 0.25 No reliable evidence
Sales, 12 months after the trade 16 −5.6% −6.5% 56% 10 −1.00 0.34 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
Silgan Holdings Inc SLGN Vice President, Tax016August 27, 2010May 1, 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
May 1, 2020April 29, 2020 SLGN Sale $147,248 −3.6%−21.1%−23.5%
May 17, 2019May 16, 2019 SLGN Sale $111,609 −2.2%+6.2%+8.7%
August 17, 2018August 15, 2018 SLGN Sale $50,037 −3.4%+6.6%+8.4%
May 30, 2018May 25, 2018 SLGN Sale $44,928 −7.0%+5.3%+2.5%
September 1, 2017August 31, 2017 SLGN Sale $66,155 −10.1%−26.9%−27.7%
June 2, 2017May 31, 2017 SLGN Sale $63,220 −6.6%−26.5%−27.6%
September 1, 2016August 30, 2016 SLGN Sale $59,194 +0.5%+8.0%+9.4%
May 27, 2016May 25, 2016 SLGN Sale $30,432 −10.4%+8.9%+8.3%
November 20, 2015November 19, 2015 SLGN Sale $43,650 +2.2%−12.0%−11.6%
March 19, 2015March 17, 2015 SLGN Sale $46,800 −5.9%−8.2%−5.3%
May 29, 2014May 27, 2014 SLGN Sale $91,424 −1.4%+0.9%+0.5%
December 2, 2013November 27, 2013 SLGN Sale $60,489 −2.5%−6.9%−7.8%
May 20, 2013May 17, 2013 SLGN Sale $60,775 −0.3%−14.3%−13.1%
February 12, 2013February 8, 2013 SLGN Sale $39,865 +0.1%−14.7%−13.2%
February 7, 2012February 3, 2012 SLGN Sale $125,001 +0.3%−12.8%−12.4%
August 27, 2010August 25, 2010 SLGN Sale $80,473 +3.2%+10.4%+14.4%

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