From end of April through June, they sold 420k shares ... http://goo.gl/wUSC7p
Over this period, they were responsible for 44% of ARIS total volume, which would be a big overhang on the stock ...
|Date||Wynn||Tot Vol||% of tot|
... they still own ~700,000 shares, which they may continue to sell.
What do they know that I don't? It's an important question given that one of their analysts is a former director at ARI and they also own shares in MAMS, a competitor to ARIS. But I've met Nelson Obus who runs Wynnfield - and while are both diehard Eagles fans - this might just be a simply situation where we disagree on a stock. For sure, the stock he's been accumulating based on his filings - GLYE - is one I have looked and see no interest in owning.
So even as ARIS floats around these levels and with overhang from selling there are questions and concerns for mgmt that still remain to answered ...
what is avg ticket / customer and how that's changing with the new products and services?
what's the avg rev / salesperson and how's that changing, etc.?
and what do they plan to do with the cash they raised selling shares below market value? that share sale should be extremely disappointing to all investors.