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Cronin John J.: insider trades

Chief financial officer at Mastech Digital, Inc. No open-market purchases and 29 sales not made under a pre-set plan, reported from December 6, 2012 to June 9, 2020.

What happened after Cronin John J.’s sales?

After their sales, the shares moved +30.6% against the index over 12 months on average (a negative figure means selling was the right call); 59% 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 29 −4.7% −11.1% 72% 5 −0.13 0.90 No reliable evidence
Sales, 12 months after the report 29 +30.6% −37.5% 59% 5 0.56 0.60 No reliable evidence
Sales, 12 months after the trade 29 +31.8% −26.6% 59% 5 0.59 0.59 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
Mastech Digital, Inc. MHH Chief Financial Officer029December 6, 2012June 9, 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
June 9, 2020June 5, 2020 MHH Sale $106,252 −25.5%−67.3%−53.4%
June 5, 2020June 3, 2020 MHH Sale $99,800 −29.3%−61.4%−56.5%
June 3, 2020June 1, 2020 MHH Sale $93,950 −18.6%−52.6%−52.7%
May 13, 2020May 11, 2020 MHH Sale $91,500 +32.1%−46.1%−59.5%
February 24, 2020February 20, 2020 MHH Sale $118,410 +4.2%−29.3%−26.7%
February 24, 2020February 19, 2020 MHH Sale $192,553 +4.2%−29.3%−26.1%
September 6, 2018September 4, 2018 MHH Sale $128,880 −33.0%−50.9%−50.2%
August 8, 2018August 6, 2018 MHH Sale $162,863 −37.1%−52.5%−45.6%
May 22, 2018May 18, 2018 MHH Sale $442,385 +13.6%−46.1%−46.4%
June 10, 2014June 6, 2014 MHH Sale $43,186 −30.4%−53.6%−50.8%
May 22, 2014May 20, 2014 MHH Sale $170,858 −36.3%−57.5%−61.9%
May 14, 2014May 12, 2014 MHH Sale $17,250 −34.7%−60.4%−57.0%
May 9, 2014May 7, 2014 MHH Sale $51,690 −33.2%−57.0%−56.7%
May 1, 2014April 30, 2014 MHH Sale $60,912 −35.9%−60.3%−54.5%
November 18, 2013November 15, 2013 MHH Sale $77,305 −22.3%−48.8%−48.3%
November 8, 2013November 6, 2013 MHH Sale $48,379 −10.4%−43.2%−32.4%
November 6, 2013November 4, 2013 MHH Sale $46,858 −8.6%−37.5%−21.6%
August 16, 2013August 14, 2013 MHH Sale $17,952 +100.6%+21.7%+17.6%
March 8, 2013March 6, 2013 MHH Sale $69,315 −22.2%+73.6%+97.3%
March 4, 2013February 28, 2013 MHH Sale $11,425 −9.6%+133.3%+109.6%
February 28, 2013February 26, 2013 MHH Sale $17,855 −10.6%+130.0%+124.2%
February 26, 2013February 25, 2013 MHH Sale $40,445 −16.6%+107.1%+111.3%
February 20, 2013February 20, 2013 MHH Sale $21,320 −11.1%+127.3%+136.1%
February 20, 2013February 19, 2013 MHH Sale $14,020 −11.1%+127.3%+130.7%
February 19, 2013February 15, 2013 MHH Sale $12,700 −5.4%+136.1%+132.8%
February 4, 2013January 31, 2013 MHH Sale $152,791 −2.6%+126.9%+114.8%
December 10, 2012December 7, 2012 MHH Sale $36,179 +45.2%+231.6%+267.5%
December 7, 2012December 5, 2012 MHH Sale $25,752 +45.3%+258.3%+245.9%
December 6, 2012December 4, 2012 MHH Sale $37,960 +63.6%+267.5%+233.3%

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