Blue Buffalo Pet Products (BUFF) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 9,957,692 to 8,783,817 shares, with 6 days to go before the expiry. The short open interest has decreased by -11.8%, amounting to a reduction of -1,173,875 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 4.9% of the float of the company. The average daily volume of the stock is 1,468,915 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Blue Buffalo Pet Products (NASDAQ:BUFF): The stock opened at $26.28 on Wednesday but the bulls could not build on the opening and the stock topped out at $26.45 for the day. The stock traded down to $25.59 during the day, due to lack of any buying support eventually closed down at $25.68 with a loss of -2.32% for the day. The stock had closed at $26.29 on the previous day. The total traded volume was 905,617 shares.
In a related news, The director officer (Chief Executive Officer), of Blue Buffalo Pet Products, Inc., Schmidt Kurt had unloaded 150,000 shares at $21.28 per share in a transaction on July 5, 2016. The total value of transaction was $3,192,000. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Blue Buffalo Pet Products, Inc. is a pet food company in the United States, selling dog and cat food made with whole meats, fruits and vegetables, and other natural ingredients. The Company has built four product lines under its BLUE brand. The Company develops, produces, markets and sells pet food under its product lines, which include BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics and BLUE Freedom. Each line of pet food includes different product types for dogs and cats, such as dry food, wet food and treats. The Company also produces and sells cat litter products under the BLUE Naturally Fresh line. The Company sells its products in the specialty channels, either directly to retailers or through distributors. The specialty channels include national pet superstore chains, regional pet store chains, neighborhood pet stores, veterinary clinics, farm and feed stores, e-commerce retailers, military outlets and hardware stores.