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| Bag This Cheap Energy Stock Even Lower Than CEO Soreq DidBy Energy Stock Channel Staff, Monday, March 20, 10:23 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 14, Delek US Holdings Inc's CEO, Avigal Soreq, invested $153,318.25 into 6,775 shares of DK, for a cost per share of $22.63. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Delek US Holdings Inc (NYSE:DK) and achieve a cost basis 1.5% cheaper than Soreq, with shares changing hands as low as $22.28 per share. Delek US Holdings Inc shares are currently trading up about 0.5% on the day. The chart below shows the one year performance of DK shares, versus its 200 day moving average:
Looking at the chart above, DK's low point in its 52 week range is $19.26 per share, with $35.45 as the 52 week high point — that compares with a last trade of $22.28. By comparison, below is a table showing the prices at which DK insider buying was recorded over the last six months:
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