undamentalytics Newsletter
Sign in

Goh Hock Huat: insider trades

Officer at Crown Holdings, Inc. No open-market purchases and 8 sales not made under a pre-set plan, reported from October 23, 2019 to March 15, 2022.

What happened after Goh Hock Huat’s sales?

After their sales, the shares moved −3.1% 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 8 −6.8% −5.1% 88% 3 — — Not enough years
Sales, 12 months after the report 8 −3.1% −2.6% 50% 3 — — Not enough years
Sales, 12 months after the trade 8 −4.7% −2.7% 63% 3 — — 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
Crown Holdings, Inc. CCK President - Asia Pacific Div.08October 23, 2019March 15, 2022

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
March 15, 2022March 14, 2022 CCK Sale $702,425 −11.1%−29.9%−31.5%
March 7, 2022March 4, 2022 CCK Sale $940,196 −5.7%−22.7%−24.3%
August 31, 2021August 31, 2021 CCK Sale $411,634 −3.8%−5.4%−5.6%
May 7, 2021May 7, 2021 CCK Sale $583,450 −14.3%−5.7%−5.3%
April 28, 2021April 28, 2021 CCK Sale $507,918 −12.8%+0.3%−0.2%
December 6, 2019December 6, 2019 CCK Sale $238,188 −4.6%+12.9%+12.9%
October 31, 2019October 31, 2019 CCK Sale $231,750 −4.1%+12.4%+8.1%
October 23, 2019October 21, 2019 CCK Sale $218,094 +2.0%+13.7%+8.5%

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