Michael A Callen - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Michael A Callen. Insiders are officers, directors, or significant investors in a company. It is illegal for insiders to make trades in their companies based on specific, non-public information. This does not mean it is illegal for them to make any trades in their own companies. However, they must report all trades to the SEC via a Form 4. Despite these restrictions, academic research suggests that insiders - in general - tend to outperform the market in their own companies.

Average Trade Profitability

Companies with Reported Insider Positions

The SEC filings indicate Michael A Callen has reported holdings or trades in the following companies:

How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Michael A Callen. Non-planned trade are trades that were not made as part of a 10b5-1 trading plan. The stock performance is charted as cumulative percent change in share price. For example, if an insider trade was made on January 1, 2019, the chart will show the daily percent change of the security to the present day. If the share price were to go from $10 to $15 during this time, the cumulative percent change in share price would be 50%. A change in price from $10 to $20 would be 100%, and a change in price of $10 to $5 would be -50%.

Ultimately, we are trying to determine how closely the insider’s trades correlate to excess returns (positive or negative) in the share price in order to see if the insider is timing their trades to profit from insider information. Consider the situation where an insider was doing this. In this situation, we would expect either (a) positive returns after purchases, or (b) negative returns after sales. In the case of (a), the PURCHASE chart would show a series of upwardly sloping curves, indicating positive returns after each purchase transaction. In the case of (b), the SALE chart would show a series of downward sloping curves, indicating negative returns after each sale transaction.

However, this alone is not enough to draw conclusions. If, for example, the share price of the company was in a non-cyclical climb over many years, then we would expect all the post-purchase plots to be upwardly sloping. Likewise, non-cyclical declines over many years would result in downward sloping post-trade plots. Neither of these charts would suggest insider trading activity.

The strongest indicator would be a situation where the share price was extremely cyclical, and there were both positive signals in the PURCHASE chart and negative plots on the SALE chart. This situation would be highly suggestive of an insider that was timing trades to their financial advantage.

Insider Purchases AMBC / Ambac Financial Group, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in AMBC / Ambac Financial Group, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Max	Price at Max	Max Profit ($)	Max Return (%)
2008-07-02	ABK	CALLEN MICHAEL A	10,000	1.0800	10,000	1.0800	10,800	730
2008-06-23	ABK	CALLEN MICHAEL A	10,000	1.9200	10,000	1.9200	19,200
2008-06-12	ABK	CALLEN MICHAEL A	10,000	2.0000	10,000	2.0000	20,000
2008-06-05	ABK	CALLEN MICHAEL A	10,000	2.6000	10,000	2.6000	26,000
2008-03-07	ABK	CALLEN MICHAEL A	25,000	6.7500	25,000	6.7500	168,750
2007-11-01	ABK	CALLEN MICHAEL A	1,400	31.1100	1,400	31.1100	43,554
2007-11-01	ABK	CALLEN MICHAEL A	1,600	31.0600	1,600	31.0600	49,696

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Sales AMBC / Ambac Financial Group, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in AMBC / Ambac Financial Group, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Min	Price at Min	Max Loss Avoided ($)	Max Loss Avoided (%)
2010-11-30	ABKFQ	CALLEN MICHAEL A	53,630	0.1300	53,630	0.1300	6,972	731	0.0166	-6,081	-87.23
2007-04-27	ABK	CALLEN MICHAEL A	500	92.6500	500	92.6500	46,325
2007-04-27	ABK	CALLEN MICHAEL A	750	92.6400	750	92.6400	69,480
2007-04-27	ABK	CALLEN MICHAEL A	200	92.6300	200	92.6300	18,526
2007-04-27	ABK	CALLEN MICHAEL A	2,300	92.6200	2,300	92.6200	213,026
2006-05-11	ABK	CALLEN MICHAEL A	3,000	83.3000	3,000	83.3000	249,900
2005-10-21	ABK	CALLEN MICHAEL A	5,000	69.1200	5,000	69.1200	345,600
2005-05-05	ABK	CALLEN MICHAEL A	3,000	71.3600	3,000	71.3600	214,080
2004-06-02	ABK	CALLEN MICHAEL A	100	68.9900	100	68.9900	6,899
2004-06-02	ABK	CALLEN MICHAEL A	7,400	69.0000	7,400	69.0000	510,600
2004-06-02	ABK	CALLEN MICHAEL A	500	69.0100	500	69.0100	34,505

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Purchases IBCA / iShares Trust - iShares iBonds Dec 2035 Term Corp ETF - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in AMBC / Ambac Financial Group, Inc.. This analysis helps to understand if the insider consistently generates abnormal returns, and is worth following. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market purchases that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Max	Price at Max	Max Profit ($)	Max Return (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Sales IBCA / iShares Trust - iShares iBonds Dec 2035 Term Corp ETF - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in AMBC / Ambac Financial Group, Inc.. A consistent pattern of loss avoidance may suggest that future sale transactions may predict declines in price. This analysis is for one-year following each trade, and the results are theoretical.

The following table shows the most recent open market sales that were not part of an automatic trading plan.

Trade Date	Ticker	Insider	Reported Shares	Reported Price	Adjusted Shares	Adjusted Price	Cost Basis	Days to Min	Price at Min	Max Loss Avoided ($)	Max Loss Avoided (%)
There are no known unplanned open-market trades for this insider and security combination

Adjusted Price is the split-adjusted price. Adjusted Shares is the split-adjusted shares.

Insider Trading History

This table shows the complete list of insider trades made by Michael A Callen as disclosed to the Securities Exchange Commission (SEC).