Marshall C. Turner

Marshall C. Turner (board member) discloses dealings in 5 companies, chiefly Xilinx Inc, ACM Income Fund Inc and Sunedison, Inc. Over a trading history stretching from 9 January 2006 to 29 September 2021, the count stands at 63 filings.

The open-market side counts 37 purchases for €670k alongside 10 sales for €3.5M. Netting one side against the other leaves €2.8M of net selling. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Other entries cover 1 share grant and 15 option exercises. In 2021 alone, the filings show 6 purchases and no sales.

In size, the median ticket on the buying side is €14k. None of the 8 purchases we analysed coincided with buying by another insider of the same company within 30 days. For 8 purchases whose 90-day window has closed, the share price was higher on day 90 than the day after publication in 25% of cases, with a median move of -0.9%. Past outcomes like these are no guarantee of what comes next.

On 30 September 2021 came the latest disclosure, an open-market purchase for €13k in Alliancebernstein National Municipal Income Fund. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. 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.