Delek Gets Dumped
In the past week, two Delek US Holdings (DK) executives reported sales totaling about $410,000 in shares of the booming downstream refiner and distributor. COO Frederec Green cashed in approximately 6% of his holdings, with proceeds of more than $300,000. The other insider, Director Charles Leonard, sold about $110,000 worth of shares. The company's stock has performed exceptionally over the past few years and is up 127% year to date.
We like to track insider activity because insiders have historically outperformed the broader market by an average 7% annually (read the report here). Insiders sell stocks for any number of reasons. Looking at the historical data for Delek, we can see that Green and Leonard's sales are not isolated. Since shares entered the $20 price region, insiders have begun to accelerate selling activity, which you can view here. In fact, the number of unique participants in this selling spree has increased to seven, another important insider signal....467 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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