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Speed Commerce, AŞ Message Board

  • avaluhound avaluhound Sep 11, 2006 6:01 PM Flag

    Transamerica Out

    I believe that they were the largest holder. Did they have a strategic purpose to buying in or bailing out? This helps explain recent past pressure on the stock.

    http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000099201%2D06%2D000050%2Etxt&FilePath=%5C2006%5C09%5C11%5C&CoName=NAVARRE+CORP+%2FMN%2F&FormType=SC+13G%2FA&RcvdDate=9%2F11%2F2006&pdf=

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    • Short Interest
      May 11,823,060
      June 12,197,238
      July 8.915,110
      Aug 8,469,552

      Down 3,282,128 in June
      Down 445,558 in Aug

      VG

    • It is interesting that the short interest reduction is pretty close to the size of the Transamerica position. Perhaps they reached some agreement with the short seller, or perhaps Transamerica was short against the box and simply delivered to themselves, liquidating both positions at once. They might have done this to delay a taxable event.

      Either way, it doesn't really matter. It is nice to see that there is equal interest to buy on the part of a short seller as there was from an institutional holder to eliminate a long position.

    • Can't really blame them. Last year was like watching Dumb and Dumber.

      dp

    • Good catch...thanks.

      Could this explain the lack of options activity? Could Cohodes have bought enough to deliver on those options contracts finally? Time will tell soon, but short interest numbers start getting collected tomorrow for Sep, and if the shares are delivered to the options MM to cover their short it won't happen until Saturday.

      TransAmerica sort of accidentally collected that much of Navr. They had about half that when they merged with another investment firm which also had a couple million shares. We all know TransAmerica was not pleased with Navarre this last spring...It seems they may have decided to take their lump and move on. What does surprise me is the stealth in which they did it.

      mig