TriNet Group (TNET) : Traders are increasing their bearish positions on the stock, as is visible by the 24.8% jump in the outstanding short positions; a total addition of 257,922 shares on the sell side. On Jul 29, 2016, the total short positions were 1,041,803 shares, which went up to 1,299,725 shares by the close of trading on August 15, 2016. It will take 2 days for the bears to roll over or cover. An average of 614,155 shares exchange hands daily. 3.1% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
TriNet Group (NYSE:TNET): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $21.16 and $21.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $21.31. The buying momentum continued till the end and the stock did not give up its gains. It closed at $21.21, notching a gain of 0.28% for the day. The total traded volume was 341,415 . The stock had closed at $21.15 on the previous day.
In a related news,The director officer (PRESIDENT, CEO and DIRECTOR) of Trinet Group Inc, Goldfield Burton M. sold 55,000 shares at $22.5 on July 14, 2016. The Insider selling transaction had a total value worth of $1,237,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
TriNet Group, Inc. is a provider of a human resources solution for small to medium-sized businesses (SMBs). The Companys human resource solution includes services, such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Its services are delivered by HR professionals and enabled by its cloud-based technology platform, which allows its clients and employees of clients to conduct HR transactions anytime and anywhere. The Company serves thousands of clients in specific industry vertical markets, including technology, life sciences, property management, professional services, banking and financial services, retail, manufacturing and hospitality services, as well as non-profit entities. As of December 31, 2014, it served over 10,000 clients in all 50 states of the United States, the District of Columbia and Canada.