Morning Commentary: Convertibles quiet; Nutanix slips; Vitamin Shoppe, Alteryx active

By Rebecca Melvin

New York, Oct. 7 – The convertibles market was mostly quiet early Monday as U.S. stock indices started the session weaker but turned positive by late morning.

The market was “really quiet,” a New York-based trader said.

A second trader said valuations were largely unchanged but noted that the 0% convertibles of Nutanix Inc. were “a touch lower” on a dollar-neutral basis, with shares up 73 cents, or nearly 3%, at $26.01.

In addition, Vitamin Shoppe Inc. and Alteryx Inc. were notable in terms of number of bonds that changed hands in a generally low volume session.

Vitamin Shoppe’s 2.25% convertibles due 2020 traded at 98.95, according to Trace data. Vitamin Shoppe shares were little changed at $6.52 at late morning.

Alteryx’s 1% convertibles due 2026 traded at 99.139, which was up 1.6 points on an outright basis. Shares of Alteryx were up $5.50, or 5%, to $116.19.

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