Thursday 4/28 Insider Buying Report: MGP, ACTG Thursday, April 28, 10:33 AM ET
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Monday, MGM Growth Properties (MGP)'s Director, John McManus, made a $262,500 buy of MGP, purchasing 12,500 shares at a cost of $21.00 each. McManus was up about 7.1% on the buy at the high point of today's trading session, with MGP trading as high as $22.49 at last check today. MGM Growth Properties is trading up about 0.2% on the day Thursday.
And also on Monday, Director Frank E. Walsh III bought $144,550 worth of Acacia Research Corp (ACTG), buying 35,000 shares at a cost of $4.13 a piece. This buy marks the first one filed by Walsh III in the past year. Acacia Research Corp is trading up about 3.8% on the day Thursday. So far Walsh III is in the green, up about 13.3% on their buy based on today's trading high of $4.68.
For MarketNewsVideo.com, I'm Sayoko Murase.
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