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Why Mannatech is up 21 Percent Friday (MTEX)

Graph With Stacks Of CoinsShares of Mannatech (NASDAQ: MTEX) are up 21 percent Friday after news of an insider purchase.

Larry Jobe, a director of Mannatech, purchased 7,500 shares at a price of $15.50 per share on August 15. He now owns 25,000 shares, according to the filing. According to Yahoo! Finance, 1.7 million shares are insider-owned with nearly 74 percent of shares owned by institutions.

Company Profile:

Mannatech, Incorporated, together with its subsidiaries, develops, markets, and sells nutritional supplements, topical and skin care products, and weight-management products. It offers health products, including daily nutritional supplements, health solutions for children, and additional nutrients for specific body systems; and weight and fitness products to curb appetite and burn fat, build lean muscle tissue, and support recovery from overexertion. The company sells its products through independent sales associates in 23 countries, including the United States, Canada, South Africa, Namibia, Australia, New Zealand, Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland, the Czech Republic, the Republic of Korea, Mexico and Hong Kong. Mannatech, Incorporated was founded in 1993 and is headquartered in Coppell, Texas.

from Yahoo! Finance

[stock-tools exchange="NASDAQ" symbol="MTEX" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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