Magnolia MGY

[Fraser921]

Insiders are selling 10.m shares MGY is buying 25 % of them

Stock will be down 5-6%. This is a buying opportunity

Last Sept, they did the ame thing. The name fell 6 % and recovered it all in 2 days

I expect it to price today 21.50-21.75
I expect it to be back to 23.oo tomorrow
Longer term Dan forecast much higher number
MGY goal is to buy 10 m shares this year. it looks like they will do 2.5 m per qtr.

Trading now at 22.00. I repeat, this should be 23 by tomorrow. Do your own DD

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Just announced at 848 est 21.72

Magnolia Oil & Gas Corporation (NYSE: MGY) (“Magnolia” or the “Company”) today announced the pricing of the previously announced underwritten block trade of 7,500,000 shares of the Company’s Class A common stock (the “Class A Common Stock”) by certain affiliates of EnerVest, Ltd. (the “Selling Stockholders”) resulting in total gross proceeds to the Selling Stockholders of $162.9 million (the “Offering”). The Offering is expected to close on or about March 14, 2022, subject to customary closing conditions. The Company will not sell any shares of its Class A Common Stock in the Offering or receive any proceeds from the Offering.

[dan_s]

I agree, this is a buying opportunity.

The SEC requires companies to report large block sales of their stock. I think investors see these announcements and mistakenly believe the company is issuing more equity (dilution). Actually, since MGY is buying some of the shares, it is reducing the outstanding shares.

[Fraser921]

Sold for 23.05

Easiest 5 per cent I ever made

Look for same thing next qtr