Director of EnerVest sold 7,000,000 MGY shares at $25.86 (2024-09-23); post-sale holdings 2,099,403 shares.
A director of EnerVest divested 7,000,000 shares of Magnolia Oil & Gas on 2024-09-23 at $25.86, reducing holdings by 76.9% from 9,099,403 to 2,099,403 shares in a sale valued at $181.0M. The transaction occurred near the stock's 52-week highs ($27.25) and preceded a subsequent decline; at the time of filing, MGY is trading at $24.61 (-9.7% from the 52-week high). Magnolia's fundamentals show significant strain, with annual revenue declining 27.6% year-over-year despite a strong latest-quarter net income of $95.6M on revenue of $336.7M. The insider's cross-ticker track record shows a 100.00% well-timed sell rate, and at this ticker specifically, the prior sale on 2024-05-14 also preceded declines (30d: -5.4%, 90d: -3.1%), establishing a consistent pattern of selling before downward price movement.