Point.360 (PTSX) Surges After DG FastChannel (DGIT) Buys 1.1M Shares

Point.360 (Nasdaq: PTSX) is soaring higher this morning following a 13D disclosure after the close Wednesday that large holder Midwood Capital sold its entire 1,108,674 shares to DG FastChannel (Nasdaq: DGIT) on 12/22 for $3.25 in a privately negotiated transaction. The shares represent over 11% of Point.360. Shares of Point.360 closed at $2.40 per share the day of the transaction. The stock is current at $3.24, up 37% on the session.