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Non-Tech : Doc Stone's Bierstube und Trading Room -- Ignore unavailable to you. Want to Upgrade?

To: R Sandvig who wrote (426)	10/16/1998 2:39:00 PM
From: Quad Sevens	Read Replies (1) \| Respond to of 638

In case anyone here is interested in MWY, there has been massive insider buying in this company of late, including company buybacks. A lot of this was known already, I know, but today I learned that Sumner Redstone, Chairman of Viacom and all that stuff, bought over 100,000 shares to add to his already huge (25% + or -) position. Check out biz.yahoo.com Rarely have I seen such a massive amount of insider buying. Caution: Redstone buys for the very long term. Here's a story about the pre-Redstone buying: --------------------- Midway Games insiders buy stock - Business Week NEW YORK, Oct 1 (Reuters) - Insiders at Midway Games Inc.(NYSE:MWY - news) have been buying up the company's stock, which the company's top executive says is a bargain, according to the Oct. 12 issue of Business Week. Midway, which makes video games for coin-operated machines and home players, has seen its stock has been trading around 12, down from last year's high of 26, the magazine said. It closed Thursday at 11-1/4. ''All we can say is the stock as these levels is a bargain,'' Neil Nicastro, chairman and chief executive, told Business Week. Nicastro bough 100,000 shares in May and June at an average price of 13-1/4 and an additional 20,000 in August when the price dropped to 9-3/4, the magazine said. Nicastro now owns 433,000 shares, or about 3 percent of the 37 million outstanding. The company also is repurchasing shares, buying 1 million in August and recently authorizing another 1 million buyback. Robert Peterson, an analyst with Piper Jaffray, told Business Week he is bullish on the stock, with a 12-month price target of 20, based on his 1999 profit estimate of $1.40 per share. ------------------------ Wade