Soros Joined by D1, Soroban in Timely Exit of Chinese Stakes (Bloomberg)
More funds joined George Soros’s investment firm in lightening their exposure to U.S.-listed Chinese companies in the second quarter, dodging a selloff prompted by a state crackdown on everything from ride-hailing to education companies. D1 Capital Partners, the investment firm run by Dan Sundheim, sold its 25 million shares in New Oriental Education & Technology Group Inc., while Soroban Capital Partners, the hedge fund firm co-founded by Eric Mandelblatt, exited its 2.06-million-share stake in Alibaba Group Holding Ltd., according to filings with the U.S. Securities and Exchange Commission.
A Retired Hedge Funder Wants $160 Million for His 22-Acre California Compound (The Wall Street Journal)
Retired hedge-fund manager Bruce Kovner spent 14 years developing, renovating and building a sprawling family compound on a bluff near Santa Barbara. “It started at 3½ acres and, with a great deal of fertilizer, it grew to 22,” he quipped. Now, he and his wife Suzie Kovner are looking to sell the California retreat for $160 million. If it sells for its asking price, it would be one of the priciest deals ever transacted in California. The current record was set last year, when Amazon CEO Jeff Bezos purchased the Warner Estate from media mogul David Geffen for $165 million.
The Hedge Fund Winners and Losers of China’s Sell-Off: Tiger Global and Appaloosa Trimmed Exposure While D1, Rokos, and Coatue Made Big Bets (Business Insider)
Chinese stocks continued to tumble this week on new data showing the slowdown from COVID-19 was worse than expected in July. Shares of Chinese companies, mostly in tech, began plunging in mid-July as local regulators threatened a crackdown on US-listed Chinese companies. Some hedge funds who went into the second quarter with large positions in Chinese companies were left holding the bag while others sold off their stakes at a prescient moment.
Tuesday 8/17 Insider Buying Report: VPG, NGL (Nasdaq.com)
On Thursday, Vishay Precision Group (VPG)’s Director, Wes Cummins, made a $388,112 purchase of VPG, buying 10,000 shares at a cost of $38.81 each. Investors are able to pick up VPG at a price even lower than Cummins did, with the stock trading as low as $38.32 in trading on Tuesday — that’s 1.3% below Cummins’s purchase price. Vishay Precision Group is trading up about 0.5% on the day Tuesday. Before this latest buy, Cummins made one other purchase in the past twelve months, buying $341,600 shares at a cost of $34.16 a piece. And on Friday, Chief Executive Officer H. Michael Krimbill bought $304,540 worth of NGL Energy Partners LP (NGL), buying 200,000 shares at a cost of $1.52 a piece.
The Executive of GlobeX Data Ltd (Other OTC: SWISF) is Selling Shares (Analyst Ratings)
Today, the Executive of GlobeX Data Ltd (SWISF), Chamlou Alain Mehdi Ghiai, sold shares of SWISF for $742.5K. This is Ghiai’s first Sell trade following 3 Buy transactions. Based on GlobeX Data Ltd’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $8,722 and GAAP net loss of -$1,284,919. In comparison, last year the company earned revenue of $7,374 and had a GAAP net loss of $256.6K. Currently, GlobeX Data Ltd has an average volume of 37.78K. The Company has a Price to Book ratio of 9.30.
Bristol-myers Squibb Company (BMY) EVP, CFO David V Elkins Sold $6.7 million of Shares (Guru Focus)
EVP, CFO of Bristol-myers Squibb Company, David V Elkins, sold 99,691 shares of BMY on 08/12/2021 at an average price of $66.95 a share. The total sale was $6.7 million.
