Big for MLNK, that is.
74,900 shares @ $3.32 around 3:47:45 and
179,400 shares @ $3.32 around 3:48.
There was also a 17,600-share block @ around 3:35 p.m.
That will bump up today's total volume.
ModusLink Global Solutions, Inc (NASDAQ:MLNK) has seen a shortfall of 199,506 shares or 3.2% in the short interest. The remaining shorts are 11.7% of the total floated shares. The net short interest, as on June 30,2015, stood at 6,063,956 shares and the stocks days to cover will be 35 by factoring in the average per day volume of 172,138 shares. On June 15,2015, 6,263,462 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on July 10th.
dotnet, I check the postings at the SEC website. I did notice that the Google Finance site lists some of these sales also.
On 06/25/2015, Moduslink sold yet another 29,654 Medifast shares at an average price of $33.0317. That still leaves them with 1,194,891 MED shares. I calculate this sale at around $980K. Taken along with the other MED sales, it does begin to look as if they are exiting their MED position. It appears that they've set the $33 mark as a target, again, that's around $4/share more than they paid for their stake in MED. IF MLNK is looking to exit their entire MED position, they will probably need to sell several smaller amounts over several days in order not to depress the share price. Due to the selloff today in the overall market, the MED share price failed to reach $33, so we'll see if MLNK holds off on further sales.
The bottom line here that everyone is making money in the last few years except investors in this MLNK turd. It is sad but true. You might make money in the long term but it will not be enough to catch up to other investments. Beside there is a great risk that insiders linke HNH will manage to strip all small investors profit.
But selling just 5 percent (combined days) does not do much in terms of "taking something off the table"...it will probably be more. If they are not "getting out" the position because MEDI will not play ball...they are raising money for a deal (OK this is the wishful think part)...
Yesterday, 06/23/2015, MLNK sold 27,443 MED shares @ an average price of $33.0112. I think that amounts to around $900K. MLNK still has 1,224,545 MED shares. Yesterday's sale amounted to around 2% of their holdings.
Odd! just over $300,000 or about 2.5 percent of their investment...are they raising cash for something? Hmmm...
Sentiment: Strong Buy
That is interesting. Sure would be nice if the company did conference calls... or attended some conferences so we could hear them talk about "the plan." Would be nice to hear the CEO speak... to better gauge him.
Oh well... we will continue to wait for news....
Sentiment: Strong Buy
In a filing tonight, MLNK is reporting that they sold 5,687 MED shares @ $33 per share on 06/19/2015
and 3,807 MED shares on 06/22/2015 @ $33.0308 per share.
They still hold 1,251,988 MED shares, so these sales amounted to less than 1% of their MED holdings. I did a quick calc, and it looks like the sales amounted to about $313K. They'll be able to book a profit on these sales, as I believe their cost basis is around $28/share.
Recall that MLNK reported sales of around 3,900 MED shares @ $33 a bit more than 2 weeks ago, so they may be lightening up a bit when the share price hits $33. That's just spec on my part as I haven't got a clue what they're up to.
The time & sales site I use is showing this info:
15:34:36 ... 290,000 shares @ $ 3.50
No doubt this is the reason why MLNK share volume today topped 430K, which is almost 4X the average volume over the last 50 days. It's possible that HnH grabbed a big block - we'll see if they file in the next day or two.
After just half of the trading day over, more MLNK shares have traded than usual - actually almost twice the volume for each of the last 2 full trading days. Given that bobo reported another HnH buy yesterday, it's quite possible that they're in the market again today, but we probably won't get that report until Friday. At any rate, MLNK's share price continues to meander about following the sharp drop after their earnings report.
Handy & Harman Ltd. Insider Buy Transaction
Seeing the investment Handy & Harman Ltd. made, its in the insider trading spotlight today. The insider of ModusLink Global Solutions, Inc. (NASDAQ:MLNK) 3.44 -0.02 -0.58%, made a purchase of 27,527 shares worth $91,140 U.S Dollars. The average cost was $3.3 per share. This deal was performed on 16/06/2015. A legal report that was filed with the SEC and is available for a free review here, gives details of the deal. Handy & Harman Ltd. now has 8.44 million shares of the Firm
Argeed but they are very very coy about what is in the works....often I believe they have no potential acquisitions because they almost post an ad in their 10Q about looking for a "few good companies with EBITDA of $25 million or more".
Do they have one but want more? Maybe...
Seems like they are buyer more today based on volume...