Reuven Spiegel, Executive Vice President of Delek Logistics Partners, LP (NYSE: DKL), sold a block of 250 common units on March 4, 2026, according to a Form 4 submitted to the Securities and Exchange Commission. The units changed hands at $53.20 apiece, producing proceeds of $13,300.
The sale was carried out under a pre-established 10b5-1 trading plan that Spiegel adopted on March 6, 2025. Following the transaction, Spiegel directly holds 22,490 common units of Delek Logistics Partners.
At the time of the sale, the company's stock was trading close to its 52-week peak of $55.89 and was quoted at $52.05. The transaction price of $53.20 sits between those two reference points.
Separately, Delek Logistics reported fourth-quarter 2025 results that failed to meet consensus expectations. The company posted earnings per share of $0.88 versus the $1.14 analysts had been forecasting. Revenue for the quarter totalled $255.7 million, short of the $284.0 million that had been anticipated.
Despite those shortfalls, Raymond James adjusted its view of the company upward on the price-target front. The firm raised its price target on Delek Logistics to $55.00 from $49.00 while keeping an Outperform rating in place. In its note, Raymond James pointed to the company's execution in growing cash flow through a difficult macroeconomic period and highlighted management's use of its operational footprint to capture additional opportunities.
Context and implications
The insider transaction was executed under a pre-arranged trading plan and involved a relatively small number of units and modest dollar value. The quarter's operating results, however, show a measurable gap versus expectations on both earnings and revenue, even as at least one analyst firm raised its valuation target based on demonstrated cash-flow execution.
Data points
- Shares sold: 250 common units
- Sale date: March 4, 2026
- Sale price: $53.20 per unit
- Total proceeds: $13,300
- Spiegel ownership after sale: 22,490 common units
- 10b5-1 plan adoption date: March 6, 2025
- Q4 2025 EPS: $0.88 (consensus: $1.14)
- Q4 2025 revenue: $255.7 million (consensus: $284.0 million)
- Raymond James price target: $55.00 (prior: $49.00); rating: Outperform
These facts will be of interest to investors in the company's units and observers of the logistics and equity markets. The insider sale was modest in size and governed by a pre-existing plan; the quarter's financials present clearer near-term performance signals, while the analyst action underscores differing perspectives on future cash-flow potential.