Thomas A. Madden

Filings by Thomas A. Madden span 3 companies, the busiest being FreightCar America, Inc., Champion Enterprises Inc and Mindspeed Technologies, Inc. Over a trading history stretching from 7 March 2006 to 17 May 2019, the count stands at 51 filings.

In open-market terms, that means 19 purchases worth €643k on one side and 3 sales worth €465k on the other. Netting one side against the other leaves €178k of net buying. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Outside the open market, there are 28 share grants. Since January 2019: 2 purchases and no sales on the market.

The median purchase comes to €8,296. Of 8 purchases, 5 formed part of a group of insiders buying within 30 days of each other. A cluster is several different insiders buying the same stock within a short window, a pattern studied more closely than a single purchase. After 8 purchases with a full 90-day history, the hit rate stands at 38% and the median 90-day move at -14.5%. This is a record of the past, not a forecast.

Most recently, on 21 May 2019, the filings show an open-market purchase worth €553 in FreightCar America, Inc. The median gap between a trade and its publication by SEC (Form 4) is 2 days. Section 16 rules allow two business days to file each Form 4. Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.