Monday, September 25, 2017 10:15 PM ET
Significant Insider Sales Reported in Shares of Midstates Petroleum Co (MPO) Extending the Trend of Last Quarter
A substantial level of insider sales in Midstates Petroleum Co was reported in form 4 documents filed with the SEC today. Two insiders — Centerbridge Credit Partners Lp, 10% Owner, and Cscp II Cayman Gp Ltd, 10% Owner — sold 460,000 shares in the company having a market value of approximately $7,360,000. There have been 2 insiders with buy/sell transactions in the past 90 days prior to these filings. All of these trades have been sales resulting in the sale of 600,000 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 1,060,000 shares and have averaged 265,000 shares per transaction over this time period.
Insiders at Midstates Petroleum Co have a higher number of buy/sell trades than the 179-peer company average over the last 90-day period. The Oil & Gas Exploration and Production peer group saw 98 buy/sell trades during this period for an average of 0.5 transactions per company. The number of shares per buy/sell trade for Midstates Petroleum Co insiders was also higher. Within the peer group there were 9,247,834 shares purchased and 955,615 shares sold with company insiders having bought 120,177 shares on average.
Insider buying and selling activity that is significant has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in evaluating and writing this story.
Today’s Insider Activity
* Centerbridge Credit Partners Lp, 10% Owner, sold 230,000 shares
* Cscp II Cayman Gp Ltd, 10% Owner, sold 230,000 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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