We usually don’t report on stock prices going up or down for a given company (unless it’s part of a larger story line). We also don’t typically report on the how much stock senior management holds in a company. This time are reporting it, for a couple of reasons. In our daily review of the news, we noticed an article about the CFO and CEO of Magnum Hunter, a large Marcellus and Utica Shale driller, buying large blocks of stock in their own company. Which of course makes you wonder, what do they know that we don’t?
As part of the story below, we also learn that the company’s largest outside investor is the odious George Soros who has upped his stake in the company by 882% in recent months. He now owns 1.43% of the company. Soros is an interesting, er, “character.” His money backs rabidly anti-drilling groups like the Public Accountability Initiative, while at the same time he’s buying up major stakes in companies like Magnum Hunter, EQT and Pioneer Natural Resources (see George Soros Plays Both Sides of Fracking Issue, for Profit). Here’s the low-down on MH’s top brass buying more of their own stock…
