Blyth, Inc (NYSE:BTH) shares moving forward blithely

Posted by Lynn Eisler September 16, 2013 0 Comment 1429 views

Last week it seemed like there some distinct supply and demand issues brewing with Blyth, Inc (NYSE:BTH). But towards the end of the week the company’s shares moved northward in a very methodic manner and the way it seems now, BTH shares seem all set to move forth strongly in the near future.

Short against free trading

Currently, the number of shares that have been sold short are more than the shares that are free trading. Insider ownerships stands at 51% while it seems like institutional-owners hold somewhere in the range of 10%-55%. This depends on how current the most-recent 13F filings are. The latest reported short interest now stands at 5, 400, 00 or just above 74% of the public-float. It is 335 of the total shares that are outstanding.

Insider buying

Insiders are also buying the company’s shares. Ryan Blair, the Visalus CEO purchased $185,000 worth of Blyth stock. It has also been reported that the Chairman bought $105,00 worth of the company’s stock and another board member purchased $105,000 worth of the stock.

The number of shares being bought by Patylite and Visalus reps is quite substantial. These entities can be dubbed as ‘shadow insiders’ as the shares are being bought by representatives of the company. However, these purchases will not eventually be filed with the SEC. they will also not figure on ownership or insider transactions listings. It is not yet very clear at this point of time whether the number of shares that have been sold short exceed the number of shares in the BTH public float that is available.

Friday’s trading session

At the close of trading on Friday, Blyth, Inc (NYSE:BTH) stock rose by 17.64%. The shares opened at a price of $11.15, rose to an intraday high of $13.03 and closed at $12.94. Approximately 1.61 million shares were traded on Friday while the average volume of shares traded over a 30 day period was 0.321 million. The company has a market capitalization of $207.20 million.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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