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Cable Car Capital, LP: insider trades

10% owner at Bloomia Holdings, Inc. 7 open-market purchases and 1 sale not made under a pre-set plan, reported from January 17, 2020 to October 22, 2020.

Would copying Cable Car Capital, LP’s purchases have beaten the S&P 500?

Too few purchases to judge. None of their purchases has 12 months of prices after the report; we judge insiders once they have 20. The figures below can swing a long way on a handful of trades. None of their purchases could be priced, so there is no copy portfolio. None of these trades can be measured yet: either the window after the report has not finished or the share price was under $5 when it was reported.

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 0 — — — — — — Not enough years
Sales, 12 months after the report 0 — — — — — — Not enough years
Sales, 12 months after the trade 0 — — — — — — Not enough years

“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
Bloomia Holdings, Inc. TULP —71January 17, 2020October 22, 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
October 22, 2020October 21, 2020 TULP Sale $1,226,417 not yetnot yetnot yet
May 19, 2020May 18, 2020 TULP Purchase $15,084 not yetnot yetnot yet
April 14, 2020April 13, 2020 TULP Purchase $11,180 not yetnot yetnot yet
March 18, 2020March 17, 2020 TULP Purchase $40,112 not yetnot yetnot yet
March 16, 2020March 13, 2020 TULP Purchase $17,022 not yetnot yetnot yet
March 12, 2020March 11, 2020 TULP Purchase $20,522 not yetnot yetnot yet
February 5, 2020February 4, 2020 TULP Purchase $12,610 not yetnot yetnot yet
January 17, 2020January 10, 2020 TULP Purchase $73,676 not yetnot yetnot yet

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 Cable Car Capital, LP traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.