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.
Magnolia MGY
Re: Magnolia MGY
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.
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.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Magnolia MGY
Sold for 23.05
Easiest 5 per cent I ever made
Look for same thing next qtr
Easiest 5 per cent I ever made
Look for same thing next qtr