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Collins Brian D: insider trades

Officer at Corecivic, Inc. No open-market purchases and 17 sales not made under a pre-set plan, reported from May 17, 2010 to May 30, 2013.

What happened after Collins Brian D’s sales?

After their sales, the shares moved +4.1% against the index over 12 months on average (a negative figure means selling was the right call); 47% 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 17 +4.0% +4.0% 29% 4 1.30 0.28 No reliable evidence
Sales, 12 months after the report 17 +4.1% +7.5% 47% 4 0.29 0.79 No reliable evidence
Sales, 12 months after the trade 17 +5.0% +5.8% 35% 4 0.50 0.65 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
Corecivic, Inc. CXW EVP & Chief HR Officer017May 17, 2010May 30, 2013

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 30, 2013May 28, 2013 CXW Sale $544,142 −3.9%−21.5%−23.7%
May 22, 2013May 17, 2013 CXW Sale $1,381,918 −9.1%−24.4%−28.8%
April 11, 2013April 9, 2013 CXW Sale $465,007 −6.0%−18.7%−17.0%
April 3, 2013April 1, 2013 CXW Sale $691,114 +0.8%−17.0%−19.0%
March 19, 2013March 18, 2013 CXW Sale $1,143,000 +0.6%−17.1%−13.6%
January 4, 2013December 17, 2012 CXW Sale $34,990 −1.6%−16.7%−12.5%
November 21, 2012November 19, 2012 CXW Sale $98,730 +5.1%−7.0%+2.4%
October 16, 2012October 15, 2012 CXW Sale $99,900 +12.4%+17.7%+17.8%
September 18, 2012September 17, 2012 CXW Sale $104,250 +6.1%+7.5%+4.0%
August 21, 2012August 20, 2012 CXW Sale $99,902 +4.6%+9.5%+5.8%
July 17, 2012July 16, 2012 CXW Sale $69,358 +4.0%+9.7%+8.8%
June 19, 2012June 18, 2012 CXW Sale $81,450 +19.8%+31.2%+28.1%
May 23, 2012May 21, 2012 CXW Sale $78,540 +18.8%+40.7%+45.4%
April 18, 2012April 16, 2012 CXW Sale $87,330 −0.3%+29.2%+29.3%
March 22, 2012March 20, 2012 CXW Sale $78,000 +7.5%+37.2%+37.1%
May 18, 2011May 16, 2011 CXW Sale $25,830 +1.7%+13.4%+13.0%
May 17, 2010May 14, 2010 CXW Sale $69,303 +6.6%−3.6%+7.4%

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