Boston, MA 09/10/2014 (wallstreetpr) – Operator of a vertically-integrated propane business, NGL Energy Partners LP (NYSE:NGL) Executive Vice President, David Kehoe, has sold 15,000 shares on Monday. He has resorted to selling part of his holding for the fifth time in September alone.
Sell Shares
NGL Energy Partners LP (NYSE:NGL)’s Executive Vice President David Kehoe has divested 15,000 shares on Monday at the rate of $42.68, according to Form 4 filed with the Securities and Exchange Commission on September 9. In the previous trading day, he has sold 322 shares at $42.23 a share. Together, the insider has unloaded 15,322 shares and realized an amount of $653,798.
The insider seemed to have taken the prevailing price to realize the value for his holding. The selling price indicated a discount of 7.7% compared to the 52-week high price of $46.25. On the other hand, he has realized a premium of 44.4% over the yearly low price of $29.56.
The same official has unloaded 8,408 shares on September 4 at the rate of $42.47 while he sold 15,000 shares each on September 2 and 3 at the rate of $42.5 and $42.62 respectively, according to Nasdaq data. In all, the Executive Vice President has unloaded 53,730 shares and realized an amount of $2.29 million.
Despite selling significant number of shares, David Kehoe is still holding about 201,085 shares in NGL Energy Partners LP (NYSE:NGL).
Twelve-Month Insider Activities
There were forty-two transactions of insider trading activities in the last three-month period. While seven transactions related to buying activities, 35 transactions related to selling of shares. In terms of number of shares, selling outnumbered buying activities. While 36,000 shares were purchased, about 1.64 million shares were sold thus leaving a net sale activity of 1.61 million shares by the insiders during the last three-month period.
Similarly, for the one-year period, there were 62 transactions and 55 belonged to selling activities while seven related to buying. There were no buying activities other than the last three-month’s acquisition of 36,000 shares. However, 4.47 million shares were sold resulting in a net sale activity of 4.44 million shares in the 12-month period.
The more selling from the insider activities could suggest that there would be less room for upside potential rewards.
