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Thompson James D.: insider trades

Officer at Regency Centers. No open-market purchases and 12 sales not made under a pre-set plan, reported from March 28, 2014 to June 9, 2021.

What happened after Thompson James D.’s sales?

After their sales, the shares moved −1.6% against the index over 12 months on average (a negative figure means selling was the right call); 50% 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 12 +1.5% +3.3% 33% 7 0.17 0.87 No reliable evidence
Sales, 12 months after the report 12 −1.6% +1.0% 50% 7 −0.56 0.59 No reliable evidence
Sales, 12 months after the trade 12 −1.6% +3.6% 42% 7 −0.55 0.60 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
Regency Centers REG EVP and COO012March 28, 2014June 9, 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
June 9, 2021June 8, 2021 REG Sale $1,017,900 −5.0%−0.8%+2.0%
February 26, 2021February 25, 2021 REG Sale $672,600 +9.9%+10.0%+10.2%
November 25, 2020November 24, 2020 REG Sale $494,310 +10.2%+27.6%+27.6%
March 25, 2019March 25, 2019 REG Sale $927,640 −1.7%−25.9%−27.1%
December 13, 2017December 12, 2017 REG Sale $1,025,586 −19.1%−10.6%−7.1%
June 9, 2016June 9, 2016 REG Sale $319,000 −4.2%−35.6%−36.4%
June 3, 2016June 3, 2016 REG Sale $273,000 +1.3%−36.3%−39.2%
December 30, 2015December 29, 2015 REG Sale $103,695 +9.8%−8.0%−11.2%
December 19, 2014December 18, 2014 REG Sale $159,375 +5.0%+7.2%+7.9%
December 9, 2014December 8, 2014 REG Sale $157,500 +2.5%+2.8%+5.2%
March 31, 2014March 28, 2014 REG Sale $102,000 +4.1%+24.9%+25.1%
March 28, 2014March 27, 2014 REG Sale $151,500 +4.8%+25.0%+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 Thompson James D. traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.