John B Walker, Director at Magnolia Oil & Gas (NYSE:MGY), made a large buy and sell of company shares on October 7, according to a new SEC filing.

Following the transaction, Walker still owns 19,331,726 shares of Magnolia Oil & Gas worth $377,838,584.

Magnolia Oil & Gas shares are trading down 1.59% at $19.55 at the time of this writing on Wednesday morning.

The Importance of Insider Transactions

Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes

Check Out The Full List Of Magnolia Oil & Gas's Insider Trades.