GrubHub (GRUB) : 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 21,732,226 to 14,146,650 shares, with 8 days to go before the expiry. The short open interest has decreased by -34.9%, amounting to a reduction of -7,585,576 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 17% of the float of the company. The average daily volume of the stock is 1,792,999 shares. The short interest information was released on Wednesday Aug 24th after the market close.
GrubHub (NYSE:GRUB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.15 and $38.05 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.36, notching a gain of 0.24% for the day. The total traded volume was 1,767,218 . The stock had closed at $38.27 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Maloney Matthew M., director officer (CEO and President) of Grubhub Inc., had unloaded 14,491 shares at an average price of $38.3 in a transaction dated on August 15, 2016. The total value of the transaction was worth $555,005.
GrubHub Inc. is an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 30,000 local restaurants with diners in more than 800 cities across the United States. The Companys target market is primarily composed of independent restaurants. The Company provides diners on the platform with a personalized platform that helps them search for local restaurants and then place an order from an Internet-connected device. It also provides diners with information about their orders and status. In addition, the Company enables re-ordering by storing previous orders, preferences and payment information. The Companys products include GrubHub and seamless Websites, GrubHub and seamless mobile applications and mobile Website, seamless corporate program, allmenus and menupages, orderhub and boost, restaurant Websites and delivery.