Westend S.A., insider and owner of more than 10% of Weight Watchers International, Inc. (NYSE:WTW), completed a large stock acquisition of 257,841 shares yesterday. The transaction was executed over three days and commenced on Monday by purchasing 48,549 shares of Common Stock for a weighted average price of $21.13 per share. Then on Tuesday, the shareholder bought 90,508 shares for a weighted average price of $21.52 per share, before acquiring the remaining 118,784 shares of Common Stock for $21.82 per share yesterday. Furthermore, all stock was bought indirectly through Stichting Administratiekantoor Westend, the insider’s parent company.
While Westend S.A. reported the only insider trade at Weight Watchers this fiscal year, last quarter showed very positive movement amongst hedge funds, with several new entries into shareholding positions, such as Steven Cohen’s Sac Capital Advisors. The hedge fund quickly became one of the top shareholders by acquiring over 1.04 million company shares, worth approximately $21.4 million. Also, Joel Greenblatt’s Gotham Asset Management increased its stakes in the firm by 39% and now owns 1.1 million shares, with a value of $22.7 million.