John S. Brinzo

John S. Brinzo discloses dealings in 5 companies, chiefly Cleveland-Cliffs Inc., AK Steel Holding Corp and Delta AIR Lines, Inc. We count 195 filings; the first trade dates from 3 January 2006 and the latest from 7 April 2016.

In open-market terms, that means 1 purchase worth €12k on one side and 127 sales worth €8.8M on the other. On balance, insiders were net sellers of €8.8M. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. Other entries cover 64 share grants. In 2016 alone, the filings show no purchases and 5 sales.

The latest filing, published on 8 April 2016, reports an open-market sale of €50k in Delta AIR Lines, Inc. The most recent open-market purchase was published on 26 November 2012, 5,080 days ago. The median gap between a trade and its publication by SEC (Form 4) is 1 day. US insiders must file a Form 4 within two business days of a trade. A sale on its own says little: insiders also sell to pay tax, fund a purchase or diversify. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.