Hedge Funds Outperform Broader Equity Markets in September as Value Rebounds (Opalesque)
Hedge funds outperformed broader equity markets in September, rising against a backdrop where the S&P 500 (SP500) declined 4.6%. The PivotalPath Hedge Fund Composite rose 0.1% in September, resulting in a 7.4% YTD increase. This was against a backdrop of widely declining markets where the S&P 500 dropped 4.6%. The Composite outperformance of 4.7% vs. the S&P 500 ranks in the top 10% of monthly relative performance since January 1998. In addition, the Composite continues to produce significant alpha (8.2%) relative to the S&P 500 over the last year.
Is Whistleblowing Really Worth $200 Million? (Bloomberg Quint)
(Bloomberg Opinion) — Good incentives for blowing the whistle on bad behavior are great. But $200 million is a hell of a big prize. That’s the amount awarded to a single source of critical information that led to nearly $2.5 billion in fines for Deutsche Bank AG in 2015 for manipulating the discredited and soon-to-be-defunct Libor interest rate, according to reports. The Commodity Futures Trading Commission announced the award last week. It is a record payment to a whistleblower.
Monday 10/25 Insider Buying Report: MLI, HPK (Nasdaq.com)
At Mueller Industries, a filing with the SEC revealed that on Thursday, Director Gary S. Gladstein purchased 11,399 shares of MLI, at a cost of $47.71 each, for a total investment of $543,846. Gladstein was up about 6.6% on the buy at the high point of today’s trading session, with MLI trading as high as $50.88 in trading on Monday. Mueller Industries is trading up about 2.7% on the day Monday. And on Wednesday, President Michael L. Hollis bought $454,540 worth of HighPeak Energy, buying 45,454 shares at a cost of $10.00 each. This purchase marks the first one filed by Hollis in the past year. HighPeak Energy is trading up about 14.8% on the day Monday. So far Hollis is in the green, up about 28.0% on their buy based on today’s trading high of $12.80.
CEO And Chairman Of Snowflake Trades $21M In Company Stock (Benzinga)
Frank Slootman, CEO And Chairman at Snowflake (NYSE:SNOW), made a large buy and sell of company shares on October 20, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Frank Slootman exercised options to purchase 63,093 Snowflake shares at a price of $8.88 per share for a total of $560,266 on October 20. They then sold their shares on succeeding transactions in the open market. They sold at prices ranging from ($0.00) to $339.24 to raise a total of $21,164,925 from the stock sale.
The CAO of Prothena (NASDAQ: PRTA) is Buying Shares (Analyst Ratings)
Yesterday, the CAO of Prothena (PRTA), Karin Walker, bought shares of PRTA for $390.2K. In addition to Karin Walker, 2 other PRTA executives reported Buy trades in the last month. Based on Prothena’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $60.07 million and quarterly net profit of $27.64 million. In comparison, last year the company earned revenue of $195K and had a GAAP net loss of $26.28 million. The company has a one-year high of $79.75 and a one-year low of $10.72. PRTA’s market cap is $2.75 billion and the company has a P/E ratio of -32.90.
1-800-flowers.com Inc (FLWS) CEO and President Christopher G Mccann Sold $1.1 million of Shares (Guru Focus)
CEO and President of 1-800-flowers.com Inc, Christopher G Mccann, sold 36,100 shares of FLWS on 10/22/2021 at an average price of $29.47 a share. The total sale was $1.1 million.
