Keith Gottschalk - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Keith Gottschalk. 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 Keith Gottschalk 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 Keith Gottschalk. 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 OSBC / Old Second Bancorp, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in OSBC / Old Second Bancorp, 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 OSBC / Old Second Bancorp, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in OSBC / Old Second Bancorp, 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 (%)
2019-06-20	OSBC	Gottschalk Keith	500	12.6969	500	12.6969	6,348	277	6.2200	-3,238	-51.01
2019-04-30	OSBC	Gottschalk Keith	2,000	13.0700	2,000	13.0700	26,140
2019-02-13	OSBC	Gottschalk Keith	3,000	14.1000	3,000	14.1000	42,300
2018-07-30	OSBC	Gottschalk Keith	1,000	15.4500	1,000	15.4500	15,450
2018-07-30	OSBC	Gottschalk Keith	500	15.4600	500	15.4600	7,730
2018-05-17	OSBC	Gottschalk Keith	1,000	14.9500	1,000	14.9500	14,950
2018-05-17	OSBC	Gottschalk Keith	400	14.8000	400	14.8000	5,920
2018-05-16	OSBC	Gottschalk Keith	100	14.8000	100	14.8000	1,480
2018-05-11	OSBC	Gottschalk Keith	500	14.6500	500	14.6500	7,325
2018-05-10	OSBC	Gottschalk Keith	400	14.5500	400	14.5500	5,820
2018-05-09	OSBC	Gottschalk Keith	500	14.4000	500	14.4000	7,200
2018-05-09	OSBC	Gottschalk Keith	100	14.5500	100	14.5500	1,455
2018-05-02	OSBC	Gottschalk Keith	500	14.3000	500	14.3000	7,150
2018-03-19	OSBC	Gottschalk Keith	1,306	14.9000	1,306	14.9000	19,459
2018-01-29	OSBC	Gottschalk Keith	500	14.4636	500	14.4636	7,232
2017-11-03	OSBC	Gottschalk Keith	74	13.6356	74	13.6356	1,009
2017-11-03	OSBC	Gottschalk Keith	326	13.7500	326	13.7500	4,482
2017-10-27	OSBC	Gottschalk Keith	500	14.0000	500	14.0000	7,000
2017-08-04	OSBC	Gottschalk Keith	1,200	11.9000	1,200	11.9000	14,280
2017-08-04	OSBC	Gottschalk Keith	300	12.1000	300	12.1000	3,630
2017-08-03	OSBC	Gottschalk Keith	500	11.9000	500	11.9000	5,950
2016-05-11	OSBC	Gottschalk Keith	1,347	7.0801	1,347	7.0801	9,537
2016-05-11	OSBC	Gottschalk Keith	100	7.1200	100	7.1200	712
2016-05-10	OSBC	Gottschalk Keith	503	7.1500	503	7.1500	3,596
2016-05-10	OSBC	Gottschalk Keith	2,000	7.0500	2,000	7.0500	14,100
2016-05-02	OSBC	Gottschalk Keith	100	7.1801	100	7.1801	718
2016-05-02	OSBC	Gottschalk Keith	2,900	7.1800	2,900	7.1800	20,822

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 Keith Gottschalk as disclosed to the Securities Exchange Commission (SEC).