Shares of Blyth (BTH +12.9%) squeeze higher on 5 times average daily volume. Shorts are scrambling to cover, with a staggering 79.1% of the float sold short as of Aug. 30. The move follows a 5.8% gain yesterday after CEO Robert Goergen disclosed he had purchased 10K shares.
Hat tip to SA contributor John Gilliam, who wrote earlier this morning that shares may go parabolic due to an overwhelming number of shares sold short combined with insider purchases (both reported and "shadow").
Shares of Herbalife (HLF) peers are trading mixed after a bout of brief volatility on the KPMG news, as the event appears to be contained: Nu Skin (NUS -1.9%), USANA Health Sciences (USNA -0.7%), Blyth (BTH +0.4%).
News of the SEC's investigation into Herbalife (HLF) weighed on other multi-level marketers going into the close. Shares of skin care firm NuSkin (NUS -3.6%), Usana Health (USNA -1.9%) and Blyth (BTH -1%) all took a turn south after the announcement. HLF will present its case to investors at its meeting tomorrow in New York. (Tune in Tommorow via Webcast)
Blyth (BTH) +4.3% premarket after announcing that its ViSalus personal health business will pay a $22M dividend to its shareholders; BTH, as the majority shareholder, will receive 73% of the distribution.
Blyth (BTH) lowers its FY12 EPS guidance to $2.28 - $2.43 from $2.47 - $2.62, citing seasonality, a difficult global macroeconomic environment and weak overall demand for its discretionary consumer products. Shares -2.7% AH.
User2910+ FollowFollowing- Unfollow|Send Message18 Mar
$BTH it looks like they have met the criteria in bond covenant that lets them start repurchasing shares again? Any other opinions pls?
Mar 18, 2:51 PM
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BTH vs. ETF Alternatives
Blyth Inc is a multi-channel company focused on the direct to consumer market. The Company designs and markets home fragrance products and decorative accessories, as well as weight management products, nutritional supplements and energy drinks.