John P. Kavanaugh

Filings by John P. Kavanaugh span 9 companies, the busiest being Hanover Insurance Group, Inc., MFS Investment Grade Municipal Trust and Aberdeen Government Markets Income Fund. Over a trading history stretching from 1 February 2006 to 11 November 2010, the count stands at 44 filings.

In open-market terms, that means 11 purchases worth €85k on one side and 25 sales worth €3.9M on the other. Taken together, the sales exceed the purchases by €3.8M. Open-market purchases are the filings investors watch most closely, because the insider pays for the shares out of pocket. Besides market trades, the filings include 8 option exercises. Since January 2010: 2 purchases and no sales on the market.

In size, the median ticket on the buying side is €8,447. Looking at 5 purchases old enough to measure, the stock rose over the following 90 days in 100% of cases; the median change was +5.2%. They describe history only and say nothing certain about the share price ahead.

The record was last updated on 15 November 2010 with an open-market purchase (€8,248) in MFS High Income Municipal Trust. Filings reach the SEC (Form 4) feed a median of 1 day after the trade. The legal deadline for a Form 4 is two business days after the transaction. Keep in mind that insiders sell for many reasons unrelated to the outlook, from tax bills to estate planning. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.