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Tinga Wiebe: insider trades

Officer, Other at Hasbro. No open-market purchases and 17 sales not made under a pre-set plan, reported from February 22, 2013 to May 3, 2019.

What happened after Tinga Wiebe’s sales?

After their sales, the shares moved −4.6% 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 17 −3.3% −7.4% 77% 7 −0.76 0.47 No reliable evidence
Sales, 12 months after the report 17 −4.6% −2.9% 59% 7 −0.93 0.39 No reliable evidence
Sales, 12 months after the trade 17 −3.9% −1.3% 65% 7 −0.90 0.40 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
Hasbro HAS EVP, Chief Commercial Officer017February 22, 2013May 3, 2019

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 3, 2019May 1, 2019 HAS Sale $515,000 +10.6%−33.1%−28.8%
April 29, 2019April 25, 2019 HAS Sale $509,450 +19.3%−28.8%−23.2%
November 8, 2018November 7, 2018 HAS Sale $598,800 −6.5%−13.9%−14.5%
July 27, 2018July 26, 2018 HAS Sale $2,093,036 −1.2%+17.8%+19.9%
March 1, 2018February 28, 2018 HAS Sale $1,072,607 −10.4%−10.6%−10.5%
February 26, 2018February 22, 2018 HAS Sale $384,387 −8.3%−13.7%−14.3%
August 30, 2017August 29, 2017 HAS Sale $2,373,805 −12.4%−15.8%−12.2%
August 4, 2017August 2, 2017 HAS Sale $2,600,250 −16.2%−18.8%−19.6%
May 24, 2016May 23, 2016 HAS Sale $2,125,250 −10.4%+5.1%+2.4%
May 4, 2016May 2, 2016 HAS Sale $260,406 −9.1%+3.5%+2.1%
April 22, 2016April 20, 2016 HAS Sale $2,482,892 −10.8%+2.6%−0.6%
August 17, 2015August 13, 2015 HAS Sale $805,700 −3.6%−2.9%−2.1%
February 13, 2015February 12, 2015 HAS Sale $1,855,200 +14.1%+24.5%+24.4%
February 28, 2014February 26, 2014 HAS Sale $2,588,789 −8.5%+2.1%+0.6%
November 12, 2013November 7, 2013 HAS Sale $3,482,047 −3.2%−9.5%−0.2%
April 26, 2013April 24, 2013 HAS Sale $1,465,153 −7.4%−0.7%−1.3%
February 22, 2013February 20, 2013 HAS Sale $410,700 +7.1%+14.3%+12.2%

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