Tutes own a large percentage of ELNK, 78% per the NASDAQ website. Seven of the eight largest holders reported this week. I pulled the Feb 15, 2013 share holdings from the 2013 Annual Meeting Proxy statement to compare with the Dec 30, 2013 recently reported Tute share count. The results are in date order and in Millions of shares:
Dimensional 7.795 7.757 small increase
Vangard 5.710 5.864 small increase
Sterling 6.968 UNREPORTED YET - indication from Sept 30 is large decrease of 2.0M shares
Renaissance 6.812 4.650 a decrease of 2.162M shares
Artisan 7.201 8.479 increase of 1.278M shares
Blackrock 5.868 7.014 increase of 1.146M shares
*new WHV as of Dec 30 4.214 decrease of 4.8M shares from Sept 30, 2013
*new Trioaks as of Dec 30 5.886 increase of .652M from Sept 30, 2013
Note: WHV and Trioaks held fewer than 5M shares in February 2013 and were not in the list of 5% holders of ELNK stock. That is why they are listed as new. WHV owned over 8M shares on Sept 30, 2013, but then sold almost half during Q4. Therefore, they did a short term increase followed by a short term decrease during the 9 month period covered by this data.
There is nothing in this data that supports McRed's panic; only 3 of the 8 are selling. The high volume of ELNK shares traded daily seems to be the Tutes trading with each other.
Retail investors will know more after the bell on Wednesday February 19. IMHO it is better to invest based on facts, rather than emotion.