Insider Sales at Discover Financial Services (DFS) are Significant and Extend the Selling Trend of Last Quarter

Monday, March 05, 2018 10:15 PM ET

Insider Sales at Discover Financial Services (DFS) are Significant and Extend the Selling Trend of Last Quarter

A significant level of insider sales in Discover Financial Services was reported in form 4 documents filed with the SEC today. Five insiders — Nelms, Hochschild, Offereins, Corley, and Minetti — sold 72,259 shares in the company having a market value of approximately $5,627,809. There have been 9 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the sale of 319,018 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 391,277 shares and have averaged 27,948 shares per transaction over this time period.

Over the last 90 days, the number of insider buy/sell trades at Discover Financial Services is higher than its 21-company peer group average. The Consumer Lending peer group saw 46 buy/sell trades during this period for an average of 2.2 transactions per company. However, the number of shares traded per transaction by Discover Financial Services insiders is lower than its peers. Within the peer group there were 27,634,842 shares purchased and 407,006 shares sold with company insiders acquiring 1,183,819 shares on average over this time period.

Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in composing and writing this story.

Today’s Insider Activity
* David W Nelms, Director and Officer, sold 30,000 shares
* Roger C Hochschild, Officer, sold 15,259 shares
* Diane E Offereins, Officer, sold 15,000 shares
* Kathryn McNamara Corley, Officer, sold 4,000 shares
* Carlos Minetti, Officer, sold 8,000 shares

Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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