Restaurant Brands International (QSR) : The traders have covered their outstanding shorts in Restaurant Brands International (QSR) to the tune of -966,637 shares, a change of -15%. As on Jul 29, 2016, the outstanding shorts on the stock were 6,452,962 shares, however, by August 15, 2016, the shorts had reduced to 5,486,325 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 2.4% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 1,025,668 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Restaurant Brands International (NYSE:QSR): The stock opened at $47.67 on Wednesday but the bulls could not build on the opening and the stock topped out at $47.77 for the day. The stock traded down to $47.46 during the day, due to lack of any buying support eventually closed down at $47.51 with a loss of -0.34% for the day. The stock had closed at $47.67 on the previous day. The total traded volume was 492,656 shares.
In a related news, Hedayat Ali, director of Restaurant Brands International Inc., had purchased 5,000 shares on August 11, 2016. The total value of the transaction was $238,650. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Restaurant Brands International Inc is the parent company for Tim Hortons Inc. and Burger King Worldwide, Inc. The Company operates more than 18,000 restaurants operating in 100 countries under its two distinct brands. Tim Hortons operates restaurant chains in North America and Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons menu includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of September 28, 2014, Tim Hortons had 4,590 system wide restaurants, including 3,665 in Canada, 869 in the United States and 56 in the Gulf Cooperation Council. BURGER KING is a fast food hamburger chain. The BURGER KING system operates in approximately 14,000 locations serving more than 11 million guests daily in 100 countries and territories globally.