They say Loral negotiated the stock sale with MHR even though it didn't need the money.
And he's president of MHR Fund Management, a New York fund that specializes in distressed assets.
Investors in Magnum Hunter Resources Corp ( NYSE: MHR) saw new options begin trading today, for the July expiration.
Other competitors in the energy sector include: EOG Resources (EOG), Magnum Hunter Resources Corp (MHR), and PrimeEnergy (PNRG).
Of Loral's eight directors, five work for Loral or MHR and another is the director of a company MHR controls.
Loral, which didn't return calls seeking comment, has said that a committee of unnamed directors, independent of MHR, negotiated the deal.
Rachesky is the president and primary owner of MHR Fund Management, a New York investment firm that manages his own money as well as outside client money.
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At Stock Options Channel, our YieldBoost formula has looked up and down the MHR options chain for the new July contracts and identified one put and one call contract of particular interest.
According to the ETF Finder at ETF Channel, MHR makes up 3.62% of the First Trust ISE-Revere Natural Gas Index Fund ETF ( AMEX: FCG) which is trading relatively unchanged on the day Tuesday.
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According to the ETF Finder at ETF Channel, MHR makes up 3.06% of the First Trust ISE-Revere Natural Gas Index Fund ETF ( AMEX: FCG )which is trading lower by about 1.3% on the day Monday.
According to the ETF Finder at ETF Channel, MHR makes up 2.74% of the First Trust ISE-Revere Natural Gas Index Fund ETF ( AMEX: FCG )which is trading lower by about 2.1% on the day Tuesday.
If course, a lot of upside could potentially be left on the table if MHR shares really soar, which is why looking at the trailing twelve month trading history for Magnum Hunter Resources Corp , as well as studying the business fundamentals becomes important.
Among the largest underlying components of XOP, in trading today Cobalt International Energy Inc. ( NYSE: CIE) is down about 1.1%, Magnum Hunter Resources Corp ( NYSE: MHR) is down about 1%, and Clean Energy Fuels Corp ( NASD: CLNE) is lower by about 0.6%.
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