Activist Investor Elliott Pushes Shake-Up at GlaxoSmithKline (The Wall Street Journal)
Activist investor Elliott Management Corp. has intensified pressure on GlaxoSmithKline PLC, calling on the pharmaceutical giant to replace members of its board and launch a process to decide whether Chief Executive Emma Walmsley should continue to lead the group. The hedge fund, known for waging forceful campaigns for change at companies in which it invests, on Thursday said Glaxo had a poor record of execution, that its share price had underperformed for years and that its management lacked credibility.
Steve Cohen Group Buys Sports-Collectible Shop Goldin Auctions (Bloomberg)
An investment group led by hedge fund billionaire Steve Cohen is buying Goldin Auctions, the premier auction house for sports collectibles, adding to their growing empire in the collectibles and alternative investments industry. Collectors Holdings — owned by Cohen, D1 Capital Partners’ Dan Sundheim and health-care millionaire Nat Turner — is buying Goldin Auctions, which collectible-industry veteran Ken Goldin founded in 2012. Terms of the deal weren’t disclosed, though the current owners of Goldin Auctions will get equity in the acquiring firm, according to Chief Executive Officer Ross Hoffman.
Carlyle Takes Over Trans Maldivian Airways from Bain Capital (Reuters)
NEW YORK (Reuters) – Carlyle Group Inc said on Thursday it has taken a majority stake in Trans Maldivian Airways (TMA), the world’s largest seaplane operator, from buyout firm Bain Capital following a debt restructuring deal. TMA began negotiating debt relief with Carlyle and its other creditors after the airline grounded most of its fleet of 56 seaplanes last year, as the COVID-19 pandemic halted travel and tourism into the Maldives.
Alex Oakenman / shutterstock.com
SkyBridge Capital’s Anthony Scaramucci Says He’s Launching an Ethereum Fund and will File for an ETF as Well (Business Insider)
SkyBridge Capital’s CEO Anthony Scaramucci confirmed in a podcast published this week that his investment firm is launching a private ethereum fund on July 1st and will file for an ether exchange traded fund (ETF) as well, as they branch out from bitcoin. The investor spoke about SkyBridge Capital‘s crypto expansion plans in an episode of The Scoop podcast published on Tuesday.
Greenlight’s June Swoon (Institutional Investor)
David Einhorn’s hedge fund is back in the red despite successful long bets. David Einhorn’s Greenlight Capital is back in the red after an ugly June.The value-driven long-short fund suffered a sharp 7.6 percent decline last month and is now down 3 percent for the year, according to a person who has seen the performance data.
Hedge Funds on a High as New Launches Outweigh Liquidations (Hedge Week)
More hedge funds were launched in the first quarter of this year than at any other time since the end of 2017, with the number of new strategy roll-outs outstripping liquidations for the third consecutive quarter, amid further signs the industry is on track for another strong year. The total number of new hedge fund launches reached an estimated 189 in the first three months of 2021, according to new data published by Hedge Fund Research – up from 175 recorded in Q4 2020. HFR said Q1’s total – the largest amount of new launches since Q4 2017 – was the third consecutive month in which new launches outnumbered liquidations, following an earlier eight consecutive quarters of contraction.
Hedge Fund Startup Raises $1.3 Billion, Then Takes a Rare Step (Bloomberg)
Former Citadel money managers Niall O’Keeffe and Tio Charbaghi shut their startup hedge fund to new investors on the first day of business after raising $1.25 billion in Europe’s biggest launch this year. The duo’s London-based FIFTHDELTA fund that bets on rising and falling stocks commenced trading on Thursday, according to Chief Executive Officer Caroline Bradley. It’s now closed to new investors for the next year to control the amount of capital it runs, a rare step by hedge fund startups.
Soros Fund Management Is Trading Bitcoin – Sources (The Street)
George Soros‘ investment operation is also looking at other cryptocurrencies. Dawn Fitzpatrick said in March crypto was at “an inflection point.” A prescient comment, as it turns out. Fitzpatrick, chief investment officer for Soros Fund Management, in recent weeks gave the internal green light to actively trade Bitcoin and perhaps other cryptocurrencies, according to two people with knowledge of the matter.
Thursday 7/1 Insider Buying Report: VINC, FULC (Nasdaq.com)
At Vincerx Pharma, a filing with the SEC revealed that on Tuesday, Chief Executive Officer Ahmed Hamdy, M.D. bought 7,830 shares of VINC, for a cost of $12.77 each, for a total investment of $99,989. So far Hamdy, M.D. is in the green, up about 16.5% on their buy based on today’s trading high of $14.88. Vincerx Pharma Inc is trading up about 10.5% on the day Thursday. And on Monday, Director James A. Geraghty purchased $91,600 worth of Fulcrum Therapeutics, purchasing 10,000 shares at a cost of $9.16 a piece. Fulcrum Therapeutics Inc is trading up about 0.2% on the day Thursday. Geraghty was up about 14.7% on the buy at the high point of today’s trading session, with FULC trading as high as $10.51 at last check today.
The Senior Officer of Magnit PJSC (Other OTC: MGJNF) is Selling Shares (Analyst Ratings)
Today, the Senior Officer of Magnit PJSC (MGJNF), Dei Marya Viktorovna, sold shares of MGJNF for $40.11M. MGJNF’s market cap is $9.25 billion and the company has a P/E ratio of 25.10. Company insider trades are published daily on the SEC (Securities and Exchange Commission). DailyInsider’s proprietary algorithm analyzes these trades and selects the most attractive stocks based on influential insider trades each day.
Zoom Video Communications Inc (ZM) COO Aparna Bawa Sold $12.4 million of Shares (Guru Focus)
COO of Zoom Video Communications Inc, Aparna Bawa, sold 32,593 shares of ZM on 06/28/2021 at an average price of $381.37 a share. The total sale was $12.4 million.
Former CEO and Director of ASX-Listed Mining Company Pleads Guilty to Insider Trading (Investor Daily)
The former chief executive and director of Quantum Resources has pleaded guilty to market manipulation and insider trading. On Wednesday, Avrohom Kimelman pleaded guilty to one charge of conspiracy to manipulate the market in Quantum shares and one rolled up charge of procuring the acquisition of shares in Quantum while in possession of inside information before the County Court of Victoria.
Former Silicon Valley Bank Vice President Agrees To Plead Guilty To Insider Trading (SFGate.com)
A former vice president at Silicon Valley Bank agreed to plead guilty Wednesday to two counts of securities fraud the same day charges were filed by both the U.S. Attorney’s Office and the Securities and Exchange Commission. Mounir Gad, 34, of San Jose, was charged with a friend — Nathan Guido, 38, of San Jose — in separate criminal and civil cases, according to separate news releases from Acting U.S. Attorney Stephanie M. Hinds and the SEC.
