Short Interest Update on Wright Medical Group (WMGI)

Wright Medical Group (WMGI) : The traders have covered their outstanding shorts in Wright Medical Group (WMGI) to the tune of -519,455 shares, a change of -4.6%. As on Jul 29, 2016, the outstanding shorts on the stock were 11,346,920 shares, however, by August 15, 2016, the shorts had reduced to 10,827,465 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 10.8% of the free float of the stock. It takes 6 days to cover the outstanding short positions. The stock has an average daily volume of 1,880,766 shares. The short interest information was released on Wednesday Aug 24th after the market close.

Wright Medical Group (NASDAQ:WMGI): The stock opened at $25.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.47 for the day. The stock traded down to $24.42 during the day, due to lack of any buying support eventually closed down at $24.62 with a loss of -2.65% for the day. The stock had closed at $25.29 on the previous day. The total traded volume was 996,447 shares.


In a related news, The officer (President, Lower Extremities), of Wright Medical Group N.V., Fisher Patrick had unloaded 1,000 shares at $25 per share in a transaction on August 3, 2016. The total value of transaction was $25,000. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Wright Medical Group, Inc. is a global specialty orthopaedic company. The Company through Wright Medical Technology, Inc. (WMT) and other subsidiaries provides extremity and biologic solutions that enable clinicians to alleviate pain and restore the patients lifestyles. The Company operates through three segments: U.S., International and BioMimetic. The Companys business includes products that are used in foot and ankle repair, upper extremity products and biologics products, which are used to replace damaged or diseased bone, to stimulate bone growth and to provide other biological solutions for surgeons and patients. The Companys products include extremity hardware, foot and ankle hardware, upper extremity hardware and biologics.

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