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Insider Activity: GameStop (GME)

Insider Activity: GameStop (GME)

Multiple directors add shares of struggling game retailer. Two directors took the opportunity to pick up shares ofGameStop (GME) near all-time lows. Director Kathy Vrabeck bought 20,000 shares, paying nearly $106,000 to do so, and director Raul Fernandez bought 4,900 shares, paying just under $25,000. The buys come after the company eliminated its dividend earlier in the year and an activist investor targeted the company, suggesting it make a huge buyback with its cash hoard to unlock shareholder value. Other directors at the company have been buyers in recent weeks, and the last insi...
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Unusual Options Activity: Uber (UBER)

Unusual Options Activity: Uber (UBER)

Bet on shares to move higher by spring.The March 2020 $34.00 call options onUber (UBER) saw over 10,100 contracts trade against a prior open interest of 391, a 35-fold surge in volume. The bet, with shares trading around $31, indicates that shares should move at least 9.6 percent higher in the next 176 days before the option expires. Shares of the recent IPO have traded as high as $47 per share, back in late June, about a month after going public. Since then, share prices have slid into the low $30 range, so the bet indicates at least some recovery in shares. As a nearly stage company, U...
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Unusual Options Activity: Snapchat (SNAP)

Unusual Options Activity: Snapchat (SNAP)

Buyers bullish ahead of earnings.The October 11th $18.50 call options on Snapchat (SNAP) saw over 18,400 contracts trade against a prior open interest of 500, a 31-fold surge in volume. Traders are betting that shares, around $17.50, can rally another $1, or 5 percent, higher in the next 16 days. That’s a reasonable bet, as shares have more than tripled off their 52-week lows of $4.82, and shares have traded as high as $18.36 in the past year. Snapchat shares struggled just one year ago, but in that time, the company has managed to beat earnings expectations in each of the last four quar...
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Insider Activity: USA Technologies Inc (USAT)

Insider Activity: USA Technologies Inc (USAT)

Major fund holder adds to stake.Investment fund Hudson Executive Partners LP bought 143,200 shares ofUSA Technologies (USAT). Already a major holder with over 10 percent of shares, the $638,000 buy increases the fund’s holdings to over 8,339,170 shares. This is the second buy from the fund following the purchase of 1 million shares back in August, at prices 26 percent higher than where shares currently trade. Insiders have otherwise been holding their shares in the past two years. USA Technologies provides wireless networking, cashless transactions, asset monitoring and other services to...
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Insider Activity: Roadrunner Transportation Systems (RRTS)

Insider Activity: Roadrunner Transportation Systems (RRTS)

Fund with major ownership adds to stake.Investment fund Elliott International bought 6,529 shares ofRoadrunner Transportation Systems (RRTS), shelling out over $64,000 to make the trade. A mere 0.3 percent increase in holdings, Elliott now owns over 23,227,100 shares, a stake worth more than 10 percent of the company. Elliott has been an active buyer of shares throughout the year, at prices as much as 25 percent higher than where shares currently trade. There has been only one insider sale this year, from a different fund. Roadrunner provides asset transportation and logistics services, ...
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Unusual Options Activity: Amazon (AMZN)

Unusual Options Activity: Amazon (AMZN)

Big bet on shares heading higher by November.The November 15th $1,770 call options onAmazon (AMZN) saw over 2,042 contracts trade against a prior open interest of 147, a 14-fold surge in volume. With each option contract representing 100 shares, each option essentially controls $177,000 worth of shares. With Amazon shares around $1,775, the options are $5 in the money. Trading around $80, or $8,000 per contract, shares would need to top $1,850 for the trade to close in-the-money in the next 52 days. Shares of the retail giant have traded as high as $2,000 in the past year. A return to th...
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Unusual Options Activity: Bank of America (BAC)

Unusual Options Activity: Bank of America (BAC)

Bet on drop in bank shares in next two years.The January 2022 $30.00 put options onBank of America (BAC) saw over 3,000 contracts trade against a prior open interest of 108, a 28-fold surge in volume. With shares trading right around $30, the put option is at-the-money, can could move dollar for dollar with shares during a decline at any point before expiration in the next 851 days. A trader making this bet may be hedging a large financial position, or betting on another potential meltdown in the sector in the next two years. Bank of America shares traded as high as $55 per share in 2006...
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Insider Activity: Destination XL Group (DXLG)

Insider Activity: Destination XL Group (DXLG)

President and COO pick up shares at clothing retailer.Harvey Kanter, President and CEO ofDestination XL Group (DXLG), picked up 20,000 shares recently, increasing his stake in the company by 200 percent at a cost of $27,800. He was joined by COO Brian Reaves, who bought 21,735 shares, increasing his stake by 19 percent, and who paid just under $30,000. Other insiders have been buyers of the company in the past year, and zero insiders have been sellers. Destination XL operates as a specialty retailer of big and tall men’s apparel, with over 216 retail stores, 15 outlet stores, and othe...
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Insider Activity: Scientific Games Corporation (SGMS)

Insider Activity: Scientific Games Corporation (SGMS)

Billionaire investor adds to stake.Ronald Perelman, billionaire investor, added 100,000 shares ofScientific Games Corporation (SGMS), recently. The buy increase his stake by 0.27 percent, and cost $2.2 million. Perelman now owns over 36.5 million shares of the company, and holds more than 10 percent of shares. Perelman has been a buyer in the past year, often at prices as much as 50 percent higher than where shares of the company currently trade. In that timeframe, only one insider has made a sale. Las Vegas-based Scientific Games Corporation develops technological products and services ...
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Unusual Options Activity: Philip Morris (PM)

Unusual Options Activity: Philip Morris (PM)

Cigarette company shares may be due for a rally.The October 11th $74 call options onPhilip Morris (PM) saw heavy trading, with over 2,500 contracts trading against a prior open interest of 109, for a 23-fold gain in volume. With shares of the company around $72, shares will need to rise by nearly 3 percent in the next 21 days to trade in-the-money at expiration. The buyer paid $0.55 per option on average, meaning shares will need to trade closer to $74.50 before making a profit. Tobacco giant Philip Morris has seen shares decline 12 percent in the past year, and the company is currently ...
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