Why Inventergy, Buckle, Whole Foods, and Two Other Stocks Are Making Headlines

Although the broader markets are relatively flat, with the Dow Jones down 18 points, the NASDAQ index off by 0.12%, and the S&P 500 trading 0.04% in the green, shares of five companies, Inventergy Global Inc (NASDAQ:INVT), MGT Capital Investments Inc. (NYSEMKT:MGT), Buckle Inc (NYSE:BKE), Whole Foods Market, Inc. (NASDAQ:WFM), and Kroger Co (NYSE:KR) are each showing considerably more volatility than usual.

In this article, we will take a look at the latest developments surrounding each stock and will assess the hedge fund sentiment towards them.

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Nano-cap Inventergy Global Inc (NASDAQ:INVT) shares are off by 33% in afternoon trading after the company announced the pricing of its $6 million offering. According to a press release, Inventergy has priced the cost of one share and one warrant at $1, with the warrant having an exercisable period of five years and an exercise price of $1 per share. Inventergy intends to use the net proceeds to redeem a portion of its preferred stock and to fund its operations. Among the funds we track, Adam Wright and Gary Kohler’s Blue Clay Capital and Michael Novogratz’s Fortress Investment Group held 109,800 shares and 50,000 shares of Inventergy Global Inc (NASDAQ:INVT) at the end of June.

MGT Capital Investments Inc. (NYSEMKT:MGT) is 11% in the red as the sentiment around the stock remains bearish due to the lack of readily identifiable positive catalysts in the near term. In addition to the lack of catalysts, technical selling could also have something to do with today’s price action, as the stock recently failed to hold the key $2 per share mark. The number of funds from our database with holdings in MGT Capital Investments Inc. (NYSEMKT:MGT) rose by three quarter-over-quarter to four at the end of June.

On the next page, we are going to analyze the news surrounding Buckle Inc (NYSE:BKE), Whole Foods Market, Inc. (NASDAQ:WFM), and Kroger Co (NYSE:KR).

Buckle Inc (NYSE:BKE) shares have fallen by over 10% today after the retailer reported disappointing September sales results. During the 5-week period ended October 1, comparable store net sales for stores open for at least one year dropped by 15.5% year-over-year, while net sales decreased by 14.8% to $82.9 million. In terms of year-to-date sales, comparable net sales for the 35-week period ended October 1 declined by 12.1% year-over-year, while net sales for the period fell by 11.4% year-over-year. Some investors clearly did not like acceleration of sales decline and headed for the exits. Alexander Medina Seaver‘s Stadium Capital Management established a new position of 596,465 shares in Buckle Inc (NYSE:BKE) during the second quarter.

Last but certainly not least, Whole Foods Market, Inc. (NASDAQ:WFM) shares have bounced by around 4% on the back of speculation and rumors on the Street that Kroger Co (NYSE:KR) might be interested in buying or merging with the company. Due to its slowing growth, Whole Foods shares are down 15% year-to-date. As always, traders should take any M&A rumor or speculation with a grain of salt. Of the around 749 top funds we track, 26 funds held shares of Whole Foods Market, Inc. (NASDAQ:WFM) and 35 investors were long Kroger Co (NYSE:KR) at the end of June.

Disclosure: none