SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of assumptions used to determine the fair value of options as of the grant date

The following assumptions were used to determine the fair value as of the grant date:

	Nine months ended  September 30, 2016		Nine months ended  September 30, 2015
	Black-Scholes	Binomial	Black-Scholes	Binomial
Risk-free interest rate (%)	1.25 - 1.89	0.23 - 1.97	1.50 - 1.78	0.02 - 2.26
Expected stock price volatility (%)	59.75 - 62.14	59.76 - 62.14	55.06 - 58.58	55.06 - 57.60
Expected dividend yield	—	—	—	—
Expected option life (in years)	6.00 - 6.25	4.54 - 4.88	6.00 - 6.25	4.10 - 4.88
Fair value	$11.15 - $18.60	$11.06 - $19.27	$10.01 - $17.34	$9.91 - $16.13

Summary of the weighted average fair value of stock options granted, the total intrinsic value of stock options exercised and the fair value of options vested

The following table summarizes the weighted average grant date fair value of stock options granted per share, the total intrinsic value of stock options exercised and the grant date fair value of stock options that vested during the period presented:

	Nine months ended September 30,
(in thousands, except per share amounts)	2016		2015
Weighted average grant date fair value of stock options granted per share	$	16.85	$	12.62
Intrinsic value of options exercised	17,280		232
Grant date fair value of stock options that vested	2,372		1,195

Summary of the activity of the entity's stock options

The following table summarizes the activity related to our stock options:

	Number of options		Weighted average exercise price		Weighted average contractual term (in years)	Aggregate intrinsic value (in thousands)
Outstanding at December 31, 2015	3,163,125		$	20.13	4.94	$	35,842
Granted	142,654		29.22
Exercised	(1,110,193	)	9.57
Forfeited	(115,539	)	36.53
Outstanding at September 30, 2016	2,080,047		$	25.48	5.55	$	22,595
Exercisable at September 30, 2016	1,274,537		$	20.17	3.62	$	18,372

Schedule of share-based compensation, restricted stock and restricted stock units activity

The following table summarizes the activity related to our restricted shares:

	Number of restricted shares
Outstanding at December 31, 2015	272,326
Granted	12,878
Issued	(18,774	)
Forfeited	(15,400	)
Outstanding at September 30, 2016	251,030