Top Buys by Top Brass: CEO Chazen's $255.4K Bet on MGY

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $255.4K by Stephen I. Chazen, CEO at Magnolia Oil & Gas Corp (Symbol: MGY).

Purchased Insider Title Shares Price/Share Value
08/09/2019 Stephen I. Chazen Chairman, President & CEO 25,000 $10.22 $255,425.00

Chazen's average cost works out to $10.22/share. Shares of Magnolia Oil & Gas Corp were changing hands at $10.74 at last check, trading off about 0.1% on Friday. The chart below shows the one year performance of MGY shares, versus its 200 day moving average:

Magnolia Oil & Gas Corp Chart

Looking at the chart above, MGY's low point in its 52 week range is $9.265 per share, with $15.23 as the 52 week high point — that compares with a last trade of $10.74.

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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