According to GuruFocus data, the largest Insider Buys this week were for MGM Resorts International (MGM, Financial), Carnival PLC (CUK, Financial), Apache Corp. (APA, Financial) and Science Applications International Corp. (SAIC, Financial).
MGM Resorts International: Director Paul J. Salem bought 377,000 shares
Director Paul J. Salem bought 195,000 shares of MGM stock on April 3 at the average price of $10.40. The price of the stock has increased by 39.9% since.
MGM Resorts International is an American international hospitality and entertainment company that operates resorts in Las Vegas, Detroit, Mississippi, Maryland and New Jersey. The company’s resorts include Bellagio, Mandala Bay, MGM Grand and The Mirage. The company also has a majority interest in MGM China Holdings Limited, which owns the MGM Macau resort. The company has a market capitalization of $7.17 billion, and as of April 10 it traded at $14.55.
On April 1, MGM Resorts International announced that former Governor and MGM Resorts President of Global Gaming Development Brian Sandoval will be leaving the company to pursue the position of President at the University of Nevada, Reno.
Carnival PLC: Director Randall J. Weisenburger bought 2,500,000 shares
Director Randall J. Weisenburger bought 1,250,000 shares of Carnival PLC stock on April 6 at the average price of $8. The price of the stock has increased by 44.25% since.
Carnival PLC is a British-American cruise operator and is currently the world’s largest travel leisure company. The company has a combined fleet of over 100 vessels across 10 cruise line brands. The company is composed of two companies, Carnival Corporation and Carnival PLC, which function as one entity. It is the only company in the world to be listed on both the S&P 500 and FTSE 100 indexes. It has a market capitalization of $7.51 billion, and as of April 10 it traded at $11.54.
On April 8, Carnival PLC announced the closing of its private offering of $4.00 billion aggregate principal amount of 11.5% First-Priority Senior Secured Nots due 2023. The corporation also announced that the initial purchasers of the corporation’s previously announced 5.75% Convertible Senior Notes due 2023 fully exercised the remainder of the option to purchase an additional $62.5 million aggregate principal amount of convertible notes.
Apache Corp: Exec. Vice Pres & Gen Counsel Anthony P. Lannie bought 32,942 shares
Exec. Vice Pres & Gen Counsel Anthony P. Lannie bought 32,942 shares of Apache Corp. stock on April 6 at the average price of $5.69. The price of the stock has increased by 44.11% since.
Apache Corp. is an American international oil and gas exploration and production company. The company has operations in the United States, Egypt and the United Kingdom. The company was ranked 411th on the Fortune 500 and is a component of the S&P 500 index. The company has a market capitalization of $3.09 billion, and as of April 10 it traded at $8.20.
On April 2, Apache Corp. announced a significant oil discovery at the Sapakara West-1 well offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest. The well successfully tested for the presence of hydrocarbons in multiple stacked targets and preliminary fluid samples indicate at least 79 meters of net oil and gas condensate pay in two intervals.
Science Applications International Corp: Director Yvette Kanouff bought 1,500 shares
Director Yvette Kanouff bought 1,500 shares of Science Applications stock on April 1 at the average price of $70.35. The price of the stock has increased by 11.3% since.
Science Applications International Corp. is an American international technology company that focuses on providing government services and information technology support. The company is a component of the S&P 400. The company has a market capitalization of $4.53 billion, and as of April 10 it traded at $78.30.
On March 26, Science Applications International Corp. announced fourth quarter and full year 2020 financial results. Revenues for the quarter were $1.5 billion, representing a 29% growth. Diluted earnings per share for the quarter were $1.01, while adjusted Ebitda for the quarter was 8.7% of revenues. Free cash flow for the full year was $437 million, while cash flow provided by operating activities for the quarter was $69 million.
For the complete list of stocks that were bought by their company executives, go to: Insider Trades.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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