Barings BDC, Inc.
US ˙ NYSE ˙ US06759L1035

Introduction

This page provides a comprehensive analysis of the known insider trading history of Knox C. Robert Jr.. 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

The average trade profitability is the average return of all the open market purchases made by the insider in the last three years. To calculate this, we examine every open-market, unplanned purchase made by the insider, excluding all trades that were marked as part of a 10b5-1 trading plan. We then calculate the average performance of those trades over 3, 6, and 12 months, averaging each of those durations to generate a final performance metric for each trade. Finally, we average all of the performance metrics to calculate a performance metric for the insider. This list only includes insiders that have made at least three trades in the last two years.

If this insiders trade profitability is "N/A", then the insider either has not made any open-market purchases in the last three years, or the trades they’ve made are too recent to calculate a reliable performance metric.

Update Frequency: Daily

See the list of most profitable insider traders.

See Highest Ranking Insiders
Companies with Reported Insider Positions

The SEC filings indicate Knox C. Robert Jr. has reported holdings or trades in the following companies:

Security Title Latest Reported Holdings
US:BBDC / Barings BDC, Inc. Principal Accounting Officer 85,282
How to Interpret the Charts

The following charts show the stock performance of securities subsequent to each open-market, non-planned trade made by Knox C. Robert Jr.. 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 BBDC / Barings BDC, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in BBDC / Barings BDC, 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 (%)
2018-12-20 BBDC Knox C. Robert Jr. 6,000 8.8400 6,000 8.8400 53,040 362 10.4900 9,900 18.67
2018-12-20 BBDC Knox C. Robert Jr. 1,000 8.8300 1,000 8.8300 8,830
2018-11-14 BBDC Knox C. Robert Jr. 7,619 10.1458 7,619 10.1458 77,301
2018-11-14 BBDC Knox C. Robert Jr. 2,381 10.1500 2,381 10.1500 24,167
2007-08-16 TCAP Knox C. Robert Jr. 400 12.1672 400 12.1672 4,867

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

BBDC / Barings BDC, Inc. Insider Trades
Insider Sales BBDC / Barings BDC, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in BBDC / Barings BDC, 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 (%)
2017-06-23 TCAP Knox C. Robert Jr. 3,000 17.7231 3,000 17.7231 53,169 166
2016-12-20 TCAP Knox C. Robert Jr. 400 18.5000 400 18.5000 7,400
2016-03-22 TCAP Knox C. Robert Jr. 3,000 19.9130 3,000 19.9130 59,739
2013-08-28 TCAP Knox C. Robert Jr. 5,000 29.2000 5,000 29.2000 146,000
2013-06-27 TCAP Knox C. Robert Jr. 3,000 27.6500 3,000 27.6500 82,950

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

BBDC / Barings BDC, Inc. Insider Trades
Insider Trading History

This table shows the complete list of insider trades made by Knox C. Robert Jr. as disclosed to the Securities Exchange Commission (SEC).

File Date Tran Date Form Ticker Security Code 10b5-1 Shares Remaining Shares Percent
Change		 Share
Price		 Tran
Value		 Remaining
Value
2018-12-20 2018-12-20 4 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		P - Purchase 1,000 85,282 1.19 8.83 8,830 753,040
2018-12-20 2018-12-20 4 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		P - Purchase 6,000 84,282 7.66 8.84 53,040 745,053
2018-11-15 2018-11-14 4 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		P - Purchase 2,381 78,282 3.14 10.15 24,167 794,562
2018-11-15 2018-11-14 4 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		P - Purchase 7,619 75,901 11.16 10.15 77,301 770,076
2018-08-06 3 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		136,550
2018-08-06 3 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		136,550
2018-08-06 3 BBDC Barings BDC, Inc.
Common Stock ("Shares") 		136,550
2018-08-02 2018-07-31 4 TCAP Barings BDC, Inc.
Common Stock 		F - Taxes -24,666 68,275 -26.54 12.00 -295,992 819,300
2018-02-09 2018-02-08 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 26,000 92,941 38.84 10.68 277,680 992,610
2018-02-06 2018-02-05 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -8,301 66,941 -11.03 10.25 -85,085 686,145
2018-02-06 2017-03-14 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -500 75,216 -0.66
2017-06-26 2017-06-23 4 TCAP Triangle Capital CORP
Common Stock 		S - Sale -3,000 75,716 -3.81 17.72 -53,169 1,341,922
2017-02-07 2017-02-06 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -7,625 78,716 -8.83 19.67 -149,984 1,548,344
2017-02-03 2017-02-01 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 21,500 86,341 33.16 19.25 413,875 1,662,064
2017-02-03 2016-12-22 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -1,092 64,821 -1.66
2017-02-03 2016-05-09 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -200 65,913 -0.30
2017-02-03 2016-03-16 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -310 66,113 -0.47
2016-12-21 2016-12-20 4 TCAP Triangle Capital CORP
Common Stock 		S - Sale -400 66,423 -0.60 18.50 -7,400 1,228,826
2016-03-23 2016-03-22 4 TCAP Triangle Capital CORP
Common Stock 		S - Sale -3,000 66,823 -4.30 19.91 -59,739 1,330,646
2016-02-05 2016-02-04 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -7,199 69,823 -9.35 18.11 -130,374 1,264,495
2016-02-05 2016-02-03 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 17,000 77,003 28.33 17.53 298,010 1,349,863
2016-02-05 2015-05-15 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -130 60,003 -0.22
2016-02-05 2015-03-30 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -115 60,133 -0.19
2015-02-06 2015-02-04 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 17,000 60,248 39.31 21.78 370,260 1,312,201
2015-02-06 2015-02-04 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -6,395 43,231 -12.89 21.78 -139,283 941,571
2015-02-06 2014-11-14 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -300 49,626 -0.60
2015-02-06 2014-03-13 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -260 49,926 -0.52
2014-02-06 2014-02-05 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 14,000 50,186 38.69 26.09 365,260 1,309,353
2014-02-06 2013-09-03 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -50 41,972 -0.12
2014-02-06 2013-08-27 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -100 42,022 -0.24
2014-02-06 2013-08-16 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -70 42,122 -0.17
2014-02-06 2013-04-08 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -45 42,192 -0.11
2014-02-06 2013-02-04 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -5,798 36,174 -13.81 26.35 -152,777 953,185
2013-08-30 2013-08-28 4 TCAP Triangle Capital CORP
Common Stock 		S - Sale -5,000 42,237 -10.58 29.20 -146,000 1,233,320
2013-06-28 2013-06-27 4 TCAP Triangle Capital CORP
Common Stock 		S - Sale -3,000 47,237 -5.97 27.65 -82,950 1,306,103
2013-02-08 2013-02-06 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 14,077 50,237 38.93
2013-02-08 2013-01-24 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -60 36,148 -0.17
2013-02-08 2012-09-07 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -20 36,208 -0.06
2013-02-08 2012-08-21 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -370 36,228 -1.01
2012-12-31 2012-12-31 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -4,627 36,598 -11.22 25.49 -117,942 932,883
2012-05-08 2012-05-07 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -1,115 41,225 -2.63 20.14 -22,456 830,272
2012-02-08 2012-02-08 4 TCAP Triangle Capital CORP
Common Stock 		A - Award 13,158 42,340 45.09
2012-02-08 2012-02-06 4 TCAP Triangle Capital CORP
Common Stock 		F - Taxes -3,438 29,169 -10.54 19.13 -65,769 558,003
2012-02-08 2011-12-15 4 TCAP Triangle Capital CORP
Common Stock 		G - Gift -778 32,607 -2.33
2008-02-13 2007-08-16 5 TCAP Triangle Capital CORP
Common Stock 		P - Purchase 400 417 2,352.94 12.17 4,867 5,074
2008-02-13 3 TCAP Triangle Capital CORP
No securities beneficially owned as of February 21, 2007 		0
P
Open market or private purchase of non-derivative or derivative security
S
Open market or private sale of non-derivative or derivative security
A
Grant, award, or other acquisition of securities from the company (such as an option)
C
Conversion of derivative
D
Sale or transfer of securities back to the company
F
Payment of exercise price or tax liability using portion of securities received from the company
G
Gift of securities by or to the insider
K
Equity swaps and similar hedging transactions
M
Exercise or conversion of derivative security received from the company (such as an option)
V
A transaction voluntarily reported on Form 4
J
Other (accompanied by a footnote describing the transaction)