Michael C Gazmarian - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Michael C Gazmarian. 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 C Gazmarian 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 C Gazmarian. 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 IIIN / Insteel Industries, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in IIIN / Insteel Industries, 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 (%)
2016-02-19	IIIN	GAZMARIAN MICHAEL C	2,549	20.2700	2,549	20.2700	51,668	280	42.5100	56,690	109.72

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

Insider Sales IIIN / Insteel Industries, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in IIIN / Insteel Industries, 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 (%)
2018-08-22	IIIN	GAZMARIAN MICHAEL C	14,800	40.0790	14,800	40.0790	593,169	239	17.6600	-331,801	-55.94
2018-08-21	IIIN	GAZMARIAN MICHAEL C	21,100	40.2390	21,100	40.2390	849,043
2018-08-20	IIIN	GAZMARIAN MICHAEL C	3,451	40.2480	3,451	40.2480	138,896
2018-08-16	IIIN	GAZMARIAN MICHAEL C	32,854	40.6040	32,854	40.6040	1,334,004
2018-08-15	IIIN	GAZMARIAN MICHAEL C	7,955	41.2100	7,955	41.2100	327,826
2016-09-09	IIIN	GAZMARIAN MICHAEL C	3,783	33.0660	3,783	33.0660	125,089
2016-09-08	IIIN	GAZMARIAN MICHAEL C	5,705	33.5780	5,705	33.5780	191,562
2016-07-26	IIIN	GAZMARIAN MICHAEL C	59,723	34.8783	59,723	34.8783	2,083,037
2016-03-01	IIIN	GAZMARIAN MICHAEL C	19,024	26.1040	19,024	26.1040	496,602
2016-02-29	IIIN	GAZMARIAN MICHAEL C	7,710	26.2630	7,710	26.2630	202,488
2016-02-25	IIIN	GAZMARIAN MICHAEL C	34,439	25.7620	34,439	25.7620	887,218
2016-02-19	IIIN	GAZMARIAN MICHAEL C	48,775	25.3314	48,775	25.3314	1,235,539
2016-02-19	IIIN	GAZMARIAN MICHAEL C	48,775	25.3314	48,775	25.3314	1,235,539
2015-12-07	IIIN	GAZMARIAN MICHAEL C	3,857	23.2850	3,857	23.2850	89,810
2015-12-04	IIIN	GAZMARIAN MICHAEL C	9,150	24.0670	9,150	24.0670	220,213
2015-12-02	IIIN	GAZMARIAN MICHAEL C	2,854	24.6500	2,854	24.6500	70,351
2015-12-01	IIIN	GAZMARIAN MICHAEL C	1,400	24.6904	1,400	24.6904	34,567
2015-11-30	IIIN	GAZMARIAN MICHAEL C	20,884	24.6427	20,884	24.6427	514,638
2015-02-19	IIIN	GAZMARIAN MICHAEL C	6,122	21.5930	6,122	21.5930	132,192
2015-02-18	IIIN	GAZMARIAN MICHAEL C	2,609	21.7310	2,609	21.7310	56,696

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 C Gazmarian as disclosed to the Securities Exchange Commission (SEC).