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Sawyer Otis S: insider trades

Officer at La-z-boy Inc. No open-market purchases and 13 sales not made under a pre-set plan, reported from March 19, 2012 to September 2, 2021.

What happened after Sawyer Otis S’s sales?

After their sales, the shares moved −5.6% against the index over 12 months on average (a negative figure means selling was the right call); 62% 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 13 −1.8% −1.9% 54% 7 −1.18 0.28 No reliable evidence
Sales, 12 months after the report 13 −5.6% −6.5% 62% 7 −1.41 0.21 No reliable evidence
Sales, 12 months after the trade 13 −5.3% −6.0% 62% 8 −1.64 0.14 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
La-z-boy Inc LZB Senior Vice President013March 19, 2012September 2, 2021

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
September 2, 2021September 1, 2021 LZB Sale $632,700 −1.8%−11.7%−13.0%
November 23, 2020November 19, 2020 LZB Sale $1,954,590 +5.2%−37.6%−40.9%
August 27, 2018August 23, 2018 LZB Sale $3,074,464 −8.7%−6.5%−8.7%
January 2, 2018December 29, 2017 LZB Sale $378,120 −1.9%−5.3%−6.0%
August 29, 2016August 25, 2016 LZB Sale $162,975 +0.2%−25.3%−26.0%
June 30, 2014June 26, 2014 LZB Sale $1,073,929 −16.0%+7.3%+7.6%
November 25, 2013November 21, 2013 LZB Sale $422,264 −16.4%−28.0%−26.5%
August 28, 2013August 26, 2013 LZB Sale $344,565 +24.4%−26.3%−23.3%
June 26, 2013June 24, 2013 LZB Sale $202,970 +6.4%−8.3%−0.4%
March 28, 2013March 26, 2013 LZB Sale $133,826 +5.9%+24.8%+21.2%
March 25, 2013March 21, 2013 LZB Sale $1,390,656 +1.1%+21.2%+29.2%
March 30, 2012March 29, 2012 LZB Sale $96,314 −14.5%+6.7%+3.0%
March 19, 2012March 15, 2012 LZB Sale $333,576 −7.6%+16.5%+14.3%

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