On 04/22/2015, they purchased 13,230 MLNK shares at an average of $3.7347.
That brought their direct holdings to 2,445,036 shares.
With the 4/22 buy, they've now been in the market for MLNK shares 3 days in a row, albeit in a small way. With the drop in share price yesterday & today, you would think that they took advantage of that to add even more shares to their position. We'll know for sure on Monday.
On 04/10/2015, they bought 800 shares at $3.75
On 04/20/2015, they bought 200 shares at $3.75
On 04/21/2015, they bought 2,900 shares at an average of $3.7479.
That brought their direct MLNK holdings up to 2,431,806 shares. A total of 3,900 shares purchased is not, in itself, all that earth-shaking; but HnH's last reported MLNK share purchase was on March 26. I don't know whether that means they will start buying on an almost daily basis as they did in the Jan-Mar period, but we'll soon see. In looking at the PRICE at which their recent purchases were made, I guess it's possible that they were waiting until the share price got back down into this range. Their filings indicate that their MLNK purchases were made with "working capital", so it's possible that the hiatus was due to cash flow issues at H&H. My surmise had been that they were in a "quiet period" prior to some known corporate event which precluded further share purchases, but that may not be the case as evidenced by these recent buys.
One thing to bear in mind is MLNK's $100M shelf registration, which officially became effective March 9th.
Lastly, all555american, if you're reading this, do I remember you saying that MLNK was changing their reporting period from a fiscal to a calendar year? If so, that would mean we'd see an interim report somewhere around May 10.
amatie, yes it's true that MLNK has a big MED stake - 1,265,375 shares to be exact. Not sure if it's an "opportunistic" investment or if they're looking at a possible takeover. Once MLNK announced its MED stake, MED put a poison pill in place, but that wouldn't necessarily stop a takeover. One other MED shareholder, Engaged Capital, pushed MED into restructuring their B.O.D. Warren Lichtenstein, of Steel Partners has told MED they need to expand nationally & internationally, and we've speculated here that perhaps MLNK is looking to get the packaging business from MED.
As to Steel Partner's stake in MLNK, I've tried to regularly track their holdings - I believe most recently it was about 35% of the 52M shares outstanding. The ownership is spread among several Steel entities - HnH, Steel, WHX, SPH Group, et al., so maybe Yahoo hasn't picked up on that.
Incidentally, Handy & Harman, which had stopped buying MLNK shares about a month ago, reported 3 small new buys in an SEC filing yesterday. I'll try to put up the numbers in another post today.
Yesterday, MLNK dir. Philip E. Lengyel sold 12,575 of his share for an average price of $3.958.
He continues to hold 22,222 shares.
I don't see any other SEC filings tonight, which I think means that HnH didn't buy any shares on Monday.
On 03/19/2015, they bought 497 shares at a price of $3.68.
On 03/20/2015, they bought 128,553 shares at an average price of $3.6997.
That bring the total of their direct holdings to 2,427,906 shares.
The 128,553-share buy on Friday confirms my suspicion that they were in the market for more than their usual amount. Today's volume and bump in price make me think they were at it again today, and if so, we should see an amended 13D filing very soon laying out the group's total position - I think it's somewhere around 35% of shares outstanding.
My trading site is showing volume of 588,800 shares today. It's possible we may see an after hour trade, but for MLNK this is fairly high daily volume (I believe the average is pretty close to 200,000). The last occasion that MLNK volume surpassed 500K, we found out that HnH was the buyer of 273K of those shares (Mar 6), so it may be logical to assume HnH was buying a bit more today - we'll soon know. IF HnH was a big buyer and bought their average quota of shares yesterday, we should soon see a new amended 13D filing.
On 03/17/2015, they bought another 40,329 MLNK shares at an average price of $3.6619
On 03/18/2015, they bought another 30,000 MLNK shares at an average price of $3.67.
That brings their total holdings up to 2,298,856 shares.
I continue 2b impressed by their slow but steady accumulation of shares.
On Friday, 03/13/2015 , they bought 42,652 shares at an average price of $3.6164.
On Monday, 03/16/2015, they bought 40,329 shares at an average of $3.6235.
That brings their total of direct holdings to 2,228,527 MLNK shares.
I need to go back through these reports to see how often the 42,652-share figure appears. I'm wondering if it's somehow related to the sales of the MLNK shares aggregated following the forward/reverse split.
I used a variant of my posting name for a previous post to see if I could evade whatever problem Yahoo has with posts, so if you look back, you'll see 00 instead of oo in the spooky nom de plume.
I found it interesting that we were able to see the results (via the 10Q) on Thursday of last week, when the company released their PR on Monday this week - maybe that's the reason posts about the earnings were deleted??
Because the Form 3 filing is showing 1,265,375 MED shares, I'm assuming that Moduslink at some point added 4,450 MED shares to the position they reported in Aug. I'm betting that comes VERY close to the 10% "poison pill" limit imposed by Medifast after Moduslink's share holdings were reported.
I just checked MED's last 10Q, and it's showing 12,060,558 shares outstanding. That was as of Nov 10 though, and it looks as if they've been granting themselves a lot company shares since then. I'm betting that their latest 10Q (due soon) will show something like 12.66M shares o/s. This MAY show that MLNK is serious about buying as much MED as they can on the open market.
There's a Form 3 filing on the SEC site showing Moduslink with a 1,265,375-share position in MED. A Form 3 filing is interesting, since it is an "Initial statement of beneficial ownership of securities, " and we know that MLNK filed a report on a purchase of 1,260,925 MED shares back in August of last year.
Looking over the Form 3 filing, I did notice something new - ModusLink Securities Corp is listed as one of the group owning the MED shares. My guess is that MLNK has formed a subsidiary to handle their securities transactions.
I got in late last night, and took a quick look at the 10Q filing. I've got some observations, but it looks as if some of the posts aren't getting through.
On 03/09/2015, they purchased 42,652 MLNK shares at a price of $3.66 per share.
On 03/10/2015, they purchased 42,652 @ an average of price of $3.5378.
That brings their direct holdings as of yesterday to 2,070,928 MLNK shares.
Interesting that they bought the exact same amount of shares on Mon. & Tues. Also interesting that they seem 2b able to continue to buy shares without causing an appreciable bump up in the share price. On this occasion, they were aided by the "timely" announcement of a shelf offering, as that almost always puts downward pressure on share prices.
I just took a quick look back through the last several earnings reports, and in general, MLNK reports after the market close, so I guess we should be looking for something tomorrow, though I probably won't be back from the latest in what seems like an endless series of doctors' appointments. I'm looking forward to picking through their 10Q for any small scraps of information.
Wellington is out with an amended 13G filing tonight showing holdings of 4,959,517 SONS shares, which equates to just over 10% of shares o/s.
On 03/05/2015, they bought 46,354 MLNK shares at an average price of $3.695.
On 03/06/2015, they bought 273,300 MLNK shares @ an average price of $3.74.
That brings their total direct holdings (as of 3/6) to 1,985,624 shares, as reported earlier in the 13D/A filing. It will be interesting to see if H&H continues to accumulate shares this week.
In thinking about the $100M shelf offering prospectus filed today, it occurred to me that IF (note caps), HnH were to buy all or most of a common stock offering, that would bring them up to the 45% ownership figure cited in a previous agreement with the MLNK B.O.D. I'm not saying I think this is what's going to happen, but it would be a way for them to buy a large amount of MLNK shares without putting upward pressure on the share price. Just a thought, and pure blue-sky speculation. Any other theories welcomed.
We might gain a bit of visibility here when the company releases the 10Q for the quarter ended Jan 31 sometime this week.