In an SEC report dated 12/31, MLNK reported the sale of what looks 2b another 120K shares of MED. The prices ranged from about $30-31/share. Here's the relevant information as copied from the filing:
As of the close of business on December 29, 2015, ModusLink Securities owned directly 759,093 Shares, constituting approximately 6.5% of the Shares outstanding. By virtue of its relationship with ModusLink Securities discussed in further detail in Item 2, MLNK may be deemed to beneficially own the Shares owned directly by ModusLink Securities.
The aggregate purchase price of the 759,093 Shares owned directly by ModusLink Securities is approximately $21,044,250, including brokerage commissions. The Shares owned directly by ModusLink Securities were acquired with the working capital of ModusLink Securities.
MLNKs previous report of MED share sales, filed Dec. 10 showed they held 880,415 shares or around 7.5% of MED shares o/s. Today's report equates to about 6.5%.
Again, if I've done my math right, their cost basis on the remaining shares is around $27.72/share.
Finally, I must have missed this filing due to the fact it was filed on New Year's Eve. Sorry, hic!
I was at breakfast this morning & saw the drop in MLNKs share price soon after the open. I rushed home to see if there was news, but got here shortly after 10:00 and saw price had popped back up. Looks like the low was $2.26. I'm tempted to say manipulation, but it's possible the market maker ran it down to take out some stop losses, since today's a light trading day. Also, there were two big volume spikes (big for MLNK) yesterday at around 1:00 & 3:00. I'm tempted to think something's up, but I've thought that way too many times in the past with this stock. As all555 noted, there could be some wash sale activity in Jan. The next earnings report isn't due until early March, so we may not hear any news here unless they do an acquisition of some kind.
Happy New Year to the long-suffering holders of CMGI & MLNK.
Agree 100 percent...combination tax loss and window dressing...still confused why they cannot find a company to buy...someone had suggested they might use Handy and Harmon....sometimes wonder if they are just looking....looking and then tell us HNH is their only option...
Its probably wishful thinking...but time is running out on the NOL and its time to make a move...think we will see buying in January after the 30 day loss rule expires...some new business by April 2016.
2016 is the year this dog will turn around....
That said I was surfing the net...e-shopping and MLNK had an ad for its e-commerce services. It could be big...certainly they have added talent and moved forward in this area...hopefully we can see some positive turnaround in the distribution side of the business....
spook2b thanks for your comments and postings and Happy Holidays to all on the Board at MLNK.
They announced a 25 cent/quarter dividend on their stock last night, so it's possible this could give them a bounce, which in turn would increase MLNK's profit on their MED holdings. My suspicion is that MED made this move in response to promptings from some of their big holders.
As all55amer noted below, MLNK's Q1 numbers didn't look very good, even factoring out the "paper loss" on their MED holdings. However, MED has since regained its former pps, so if it stays there or goes up, MLNK will show a gain on those holdings in the next quarterly report, which would be a swing of around 35 cents if MEDs share price remains stable, more if it goes up.
Meanwhile, MLNKs share price has now hit yet another 52-week low at around $2.50. My best guess is year-end tax loss selling, but we have to remember that this is now a closely-held underfollowed security and they'll need to produce results of some sort in order to pump that share price back up. That said, if this is tax loss selling, we may get a bounce early next year.
Same old news…loss of HP business, not replaced…still looking for acquisitions....loss of about 10 cents after adjustment for trading loss on MEDI shares…
Yada, yada, yada…they are not telling us anything….
Curious why the mid-day release?
What have you expected.it is under control of hedgefonds.we the stockholders will be the loser, thats for sure.
We can tolerate this gross mismanagement by current CEO and his management.
They are incompetent and totally clueless to say the least!
Who would be interested in putting our heads together and face company CEO?
God Bless you!
yea, I am not thrilled that it is making 52 week lows while booking nice trading profits.
MLNK's filing shows that they now hold 880,415 Medifast shares, or about 7.5% of shares outstanding. Here is a clip from today's SEC filing:
The aggregate purchase price of the 880,415 Shares owned directly by ModusLink Securities is approximately $24,480,609, including brokerage commissions.
If I did the math right, that works out to about $27.80 per share.
# of shares//// price //// date sold
2,400 $31.1385 11/17/2015
13,000 $31.0444 11/18/2015
400 $31.0088 11/19/2015
6,388 $31.0256 11/20/2015
9,558 $31.7738 11/23/2015
6,505 $31.6369 11/24/2015
5,722 $31.6369 11/25/2015
5,681 $31.9262 11/25/2015
17,901 $30.2376 12/2/2015
37,915 $30.0583 12/3/2015
21,652 $29.8308 12/4/2015
Meanwhile, it looks as if MLNK's share price hit a new 52-week low today. They should be able to book a nice gain on these sales in the Q4 report. More in next post...
I'll keep this short and sweet...Google "Penny Stock 101 org' signup for their free newsletter and get their next trade alert. Come back and thank me tomorrow!