A fairly strange new major holder crossed the five per cent line as of July 11, 2017. [I need to get to a client dinner, right now — just saw this — so, I will look at this in detail later tonight, and may well add to or revise my thoughts.]
I say strange because an affiliate of the holder has also “sold short in over the counter market American-style put options referencing an aggregate of 265,000 Shares and 20,000 Shares, respectively, which expire on July 21, 2017 and October 20, 2017, respectively, and have an exercise price of $2.50 per Share….” So if I understand this correctly, about one eight of the new holders shares are subject to shorts — at a strike of $2.50.
And so, it is just a little puzzling that the stock rose nearly seven percent on the day — albeit on low to moderate volume. Though to be fair — Eric Singer (the controlling person of the holder) has been seen as a hedge fund rising star, in at least some circles.
Here is the link to the Schedule 13D, just filed earlier today.
We also are given to understand that there may a very fascinating story told, out of one of the contacts from the company — perhaps as early as Monday.