Sports Direct International (SDI) has slightly reduced its interest in Finish Line, the U.S. sports retailer. It previously amassed contracts amounting to an interest of 19.9 percent in Finish Line through 19 purchases, from May 6 to June 19, but the seven transactions thereafter were all sales and the latest stated position amounts to an interest of 19.4 percent. The purchases related to contracts for difference, which allow the owner to profit from a change in the stock price but do not include the right to actually purchase or sell the shares. The share price reached up to $14.73 when the contract sales were realized, while it was as low as $13.32 when some of the contracts were agreed.

Topics