Michael D Siegal - Insider Trading Tracker

Introduction

This page provides a comprehensive analysis of the known insider trading history of Michael D Siegal. 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 D Siegal 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 D Siegal. 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 CLF / Cleveland-Cliffs Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in CLF / Cleveland-Cliffs 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 (%)
2019-05-01	CLF	SIEGAL MICHAEL D	7,500	9.7600	7,500	9.7600	73,200	79	11.3000	11,550	15.78
2017-04-28	CLF	SIEGAL MICHAEL D	5,000	6.8588	5,000	6.8588	34,294
2016-02-01	CLF	SIEGAL MICHAEL D	2,263		2,263
2015-05-26	CLF	SIEGAL MICHAEL D	9,500	5.2000	9,500	5.2000	49,400
2015-03-02	CLF	SIEGAL MICHAEL D	7,200	6.8072	7,200	6.8072	49,012

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

Insider Sales CLF / Cleveland-Cliffs Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in CLF / Cleveland-Cliffs 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 (%)
2016-02-01	CLF	SIEGAL MICHAEL D	2,500		2,500			1	1.5600

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

Insider Purchases ZEUS / Olympic Steel, Inc. - Short Term Profit Analysis

In this section, we analyze the profitability of every unplanned, open-market insider purchase made in CLF / Cleveland-Cliffs 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 (%)
2015-05-04	ZEUS	SIEGAL MICHAEL D	500	14.9760	500	14.9760	7,488	364	24.0500	4,537	60.59
2014-03-10	ZEUS	SIEGAL MICHAEL D	500	27.5815	500	27.5815	13,791

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

Insider Sales ZEUS / Olympic Steel, Inc. - Short Term Loss Analysis

In this section, we analyze the short-term loss avoidance of every unplanned, open-market insider sale made in CLF / Cleveland-Cliffs 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 (%)
2023-03-03	ZEUS	SIEGAL MICHAEL D	10,000	54.7600	10,000	54.7600	547,600	74	41.6500	-131,100	-23.94
2023-03-03	ZEUS	SIEGAL MICHAEL D	2,500	55.5000	2,500	55.5000	138,750
2023-03-03	ZEUS	SIEGAL MICHAEL D	12,500	57.2900	12,500	57.2900	716,125
2023-03-02	ZEUS	SIEGAL MICHAEL D	25,000	55.4800	25,000	55.4800	1,387,000
2023-03-02	ZEUS	SIEGAL MICHAEL D	50,000	56.4400	50,000	56.4400	2,822,000

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 D Siegal as disclosed to the Securities Exchange Commission (SEC).