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Mcfarlane Donald C: insider trades

Officer at Corvel Corp. No open-market purchases and 15 sales not made under a pre-set plan, reported from February 25, 2010 to March 2, 2015.

What happened after Mcfarlane Donald C’s sales?

After their sales, the shares moved +6.6% against the index over 12 months on average (a negative figure means selling was the right call); 40% 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 +0.7% +1.7% 47% 6 0.39 0.71 No reliable evidence
Sales, 12 months after the report 15 +6.6% +7.2% 40% 6 0.47 0.66 No reliable evidence
Sales, 12 months after the trade 15 +4.3% +3.0% 40% 6 0.33 0.75 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
Corvel Corp CRVL Chief Information Officer015February 25, 2010March 2, 2015

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
March 2, 2015February 26, 2015 CRVL Sale $42,960 −9.8%+20.1%+20.7%
February 20, 2015February 18, 2015 CRVL Sale $42,540 +1.7%+30.3%+29.7%
March 12, 2014March 10, 2014 CRVL Sale $392,139 −14.7%−44.4%−40.9%
February 12, 2014February 10, 2014 CRVL Sale $39,310 −5.1%−40.4%−37.0%
June 5, 2013June 3, 2013 CRVL Sale $157,500 +24.2%+48.6%+49.2%
February 19, 2013February 14, 2013 CRVL Sale $72,419 −5.8%+75.3%+74.9%
March 14, 2012March 12, 2012 CRVL Sale $66,109 +14.6%+2.8%−5.5%
November 9, 2011November 7, 2011 CRVL Sale $132,655 −12.3%−28.5%−32.6%
September 15, 2011September 13, 2011 CRVL Sale $33,951 −5.4%−23.8%−23.8%
February 16, 2011February 14, 2011 CRVL Sale $89,850 +2.5%−1.8%−6.1%
November 12, 2010November 10, 2010 CRVL Sale $138,071 −9.8%−0.3%+2.3%
June 16, 2010June 15, 2010 CRVL Sale $81,262 +6.4%+11.2%+3.0%
June 16, 2010June 15, 2010 CRVL Sale $17,744 +6.4%+11.2%+3.0%
June 15, 2010June 11, 2010 CRVL Sale $83,152 +6.5%+7.2%+3.8%
February 25, 2010February 23, 2010 CRVL Sale $74,552 +11.5%+31.6%+23.7%

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