Notable Insider Selling Activity Detected At American States Water Co (AWR) and Delek US Holdings Inc. (DK)

Moving on to Delek US Holdings, Inc. (NYSE:DK), Charles Leonard, an Independent Director of the company reduced his stake to 22,880 shares by selling 4,500 shares at an average price of $28.65 per share on September 4. Shares of the Brentwood, Tennessee-based petroleum refiner rose by more than 40% during the first quarter of 2015, however, they have lost most of those gains over the last two months and currently trade up by just 3.65% year-to-date. The company reported in February that it was being investigated by the SEC for issues related to two revisions it made to financial statements issued in 2011 and 2012, as well as its general internal control over its financial reporting. There have yet to be further updates from the company on the matter. Most analysts who cover the stock are bullish on it, despite the dark cloud. On August 21, analysts at Barclays reiterated their ‘Overweight’ rating on the stock, while upping their price target to $44 from $43, which represents a potential rise of greater than 50% over the stock’s current price. Among the hedge funds covered by us, billionaire David E. Shaw‘s firm D.E. Shaw was the largest shareholder of the company at the end of June, owning almost 4.47 million shares.

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