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Morris Mary Catherine: insider trades

Officer at Arrow Electronics, Inc. No open-market purchases and 36 sales not made under a pre-set plan, reported from February 14, 2012 to February 22, 2021.

What happened after Morris Mary Catherine’s sales?

After their sales, the shares moved −3.2% against the index over 12 months on average (a negative figure means selling was the right call); 75% 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 36 −3.1% −0.8% 64% 10 −1.39 0.20 No reliable evidence
Sales, 12 months after the report 36 −3.2% −4.0% 75% 10 −0.01 0.99 No reliable evidence
Sales, 12 months after the trade 36 −3.0% −4.6% 69% 10 0.06 0.95 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
Arrow Electronics, Inc. ARW Chief Strategy Officer036February 14, 2012February 22, 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
February 22, 2021February 19, 2021 ARW Sale $6,046,218 +14.2%+8.6%+5.3%
February 16, 2021February 12, 2021 ARW Sale $155,430 +6.8%+4.0%+4.9%
May 29, 2020May 28, 2020 ARW Sale $125,115 −3.4%+35.5%+38.1%
November 12, 2019November 8, 2019 ARW Sale $216,000 −10.9%−10.7%−12.1%
February 25, 2019February 22, 2019 ARW Sale $581,719 −19.8%−25.6%−26.1%
February 21, 2019February 21, 2019 ARW Sale $76,085 −22.2%−26.1%−27.1%
November 29, 2018November 28, 2018 ARW Sale $976,200 +0.1%−11.4%−11.1%
August 23, 2018August 21, 2018 ARW Sale $810,766 +1.1%−16.4%−17.1%
February 27, 2018February 26, 2018 ARW Sale $292,214 −8.4%−6.8%−6.0%
February 26, 2018February 23, 2018 ARW Sale $119,499 −8.1%−6.7%−6.0%
May 26, 2017May 25, 2017 ARW Sale $727,578 +0.4%−15.3%−16.0%
March 2, 2017March 1, 2017 ARW Sale $472,105 +0.3%−7.7%−8.5%
November 28, 2016November 23, 2016 ARW Sale $542,270 −0.3%−3.9%−4.0%
May 23, 2016May 20, 2016 ARW Sale $327,089 −0.9%−0.5%+2.0%
March 1, 2016February 26, 2016 ARW Sale $214,422 +4.2%+3.0%+2.5%
February 25, 2016February 24, 2016 ARW Sale $130,748 +1.5%+2.5%+3.2%
November 5, 2015November 3, 2015 ARW Sale $258,723 −0.6%−1.1%+4.3%
May 15, 2015May 13, 2015 ARW Sale $353,223 −7.6%−2.7%−2.7%
May 15, 2015May 13, 2015 ARW Sale $340,869 −7.6%−2.7%−2.7%
May 15, 2015May 13, 2015 ARW Sale $293,626 −7.6%−2.7%−2.7%
February 24, 2015February 23, 2015 ARW Sale $310,662 −3.7%−2.4%−2.6%
November 19, 2014November 17, 2014 ARW Sale $653,886 +5.1%−5.3%−4.6%
November 19, 2014November 17, 2014 ARW Sale $17,297 +5.1%−5.3%−4.6%
November 13, 2014November 11, 2014 ARW Sale $202,445 +4.6%−3.9%−1.4%
August 19, 2014August 15, 2014 ARW Sale $445,919 −9.1%−14.5%−13.5%
June 2, 2014May 29, 2014 ARW Sale $127,089 +3.0%−7.4%−7.0%
February 28, 2014February 27, 2014 ARW Sale $254,608 +0.4%−1.0%−5.6%
February 20, 2014February 18, 2014 ARW Sale $149,939 −2.9%−5.8%−7.0%
February 12, 2014February 10, 2014 ARW Sale $842,460 −0.5%−4.1%−6.2%
February 12, 2014February 10, 2014 ARW Sale $53,425 −0.5%−4.1%−6.2%
August 2, 2013May 23, 2013 ARW Sale $259,546 −0.9%+8.4%+26.6%
March 1, 2013February 28, 2013 ARW Sale $223,765 −6.6%+18.2%+15.7%
February 20, 2013February 19, 2013 ARW Sale $142,920 −13.6%+13.1%+13.3%
November 30, 2012November 29, 2012 ARW Sale $266,335 −0.7%+7.8%+6.5%
March 5, 2012March 2, 2012 ARW Sale $265,871 −10.1%−10.0%−14.7%
February 14, 2012February 13, 2012 ARW Sale $279,882 −11.2%−13.6%−14.2%

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 Morris Mary Catherine traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.