What’s Ailing Perceptive? (Institutional Investor)
The life sciences specialist’s hedge fund is down significantly this year — and its recently merged SPAC is also underwater. It has been a rough year for Perceptive Advisors. The life sciences specialist headed by Joseph Edelman posted nearly a 21 percent loss in its hedge fund in the first six months of the year, according to a private hedge fund database.
Ackman Drops Bid for $4 Billion Stake in Universal Music (Los Angeles Business Journal)
Billionaire Bill Ackman’s Pershing Square Tontine Holdings Ltd. scrapped plans to buy 10% of Santa Monica-based Universal Music Group for about $3.95 billion. But this isn’t the end of Ackman’s financial ties with Universal Music, the world’s largest music company owned by French conglomerate Vivendi. Though viewed as a setback for the activist hedge fund investor, Ackman said he plans to still become a long-term investor in Universal Music — though not through a SPAC, or special purpose acquisition company.
BlueBay Asset Management Expands ESG Investment Team (Hedge Week)
BlueBay Asset Management has expanded its Environmental, Social and Governance (ESG) investment team with the addition of Emma Whiteacre as a Senior ESG Analyst, and Elena Koycheva as ESG Institutional Portfolio Manager. Based in London, Whitecare reports to My-Linh Ngo, Head of ESG Investment, Portfolio Manager, and will contribute to BlueBay’s ongoing ESG investment management efforts, particularly in the area of climate change.
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Hedge Funds Seek the Amazon of Cryptocurrencies (Bloomberg)
During a gold rush, invest in shovel makers, goes the adage. That’s precisely what hedge funds looking to get in on the excitement around cryptocurrencies are doing with a flurry of investments in platforms created to buy, sell and store virtual currencies. At the same time, regulators around the world are asking more questions about how much protection any companies handling crypto assets should offer investors. Tighter rules look inevitable if the market for digital currencies is to become anything more than a sideshow in the world of finance.
Lordstown Motors Receives $400 mln Investment from Hedge Fund (Reuters)
July 26 (Reuters) – Lordstown Motors Corp (RIDE.O) said on Monday it received a $400 million equity investment from hedge fund YA II PN Ltd, at a time when the electric-truck maker is under regulatory scrutiny related to its SPAC merger and vehicle pre-orders. According to a regulatory filing, Mountainside, New Jersey-based fund YA, managed by investment management services provider Yorkville Advisors Global LP, has agreed not to engage in any short sales or hedging transactions on Lordstown stock.
Hedge Funds Hit $4 Trillion-Mark (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge fund assets surpassed the $4 trillion-mark to reach an all-time high of $4.15 trillion after three consecutive quarters of inflows and the best first-quarter performance since 2006, according to Preqin. Investors poured $10.9 billion into hedge funds in the first quarter, which, combined with the Preqin All-Strategies Hedge Fund benchmark’s return of 6.9 percent, resulted in a quarter-over-quarter increase in assets under management of $150 billion.
World’s Biggest Listed Hedge Fund Firm Chief Makes Bitcoin Noob Mistakes Too (Crypto News)
The Cryptoverse is seeing yet another traditional financial boss making the very same greenhorn Bitcoin (BTC) mistakes that had been debated and debunked numerous times before, continuing the cycle of misinformation. And this time too it’s about – you guessed it – value and scarcity. The focus of the ‘we’ve-been-here-before’ criticism this time around is Luke Ellis, the CEO of the world’s biggest publicly traded hedge fund firm Man Group.
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Insider Trading: July 26, 2021 (BIV.com)
Insider Eric S. Sprott, 10% owner. Company: New Found Gold Corp. (TSX:NFG). Shares owned: 28,301,200. Trade date: July 9, 12, 13. Trade total: $679,400. Trade: Acquisition of 60,000 shares at prices from $11.21 to $11.47 per share. Insider Patrick Cole, officer. Company: Amanda Mercantile Ltd. (CVE:AARM). Shares owned: 280,000. Trade date: July 13. Trade total: US$280,000. Trade: Sale of 1,000,000 shares at a price of US$0.28 per share.
The Past Week’s Most Notable Insider Buys: Blackstone, Cricut, Fast Acquisition And More (Benzinga)
Acutus Medical: Early last week, two Acutus Medical Inc (AFIB) directors took advantage of a public offering of common stock priced at $14 a share. The more than 2.14 million shares they indirectly purchased altogether totaled nearly $30.0 million. As one director has a stake of over 3.4 million shares and the other’s stake is more than 4.87 million, each is a beneficial owner as well. Fast Acquisition: Special purpose acquisition company (SPAC) Fast Acquisition Corp (FST) saw a beneficial owner return to the buy window last week. At $11.30 to $12.19 per share, the 532,000 shares most recently acquired totaled more than $6.20 million. Note that this owner has purchased more than $16 million worth of the stock since the beginning of July and has a stake of over 3.37 million shares.
Monday 7/26 Insider Buying Report: HCWB, PYCR (Nasdaq.com)
On Thursday, HCW Biologics’s Chief Executive Officer, Hing C. Wong, made a $5.02M purchase of HCWB, buying 627,500 shares at a cost of $8.00 each. Bargain hunters can grab HCWB at a price even lower than Wong did, with shares changing hands as low as $5.01 at last check today which is 37.4% below Wong’s purchase price. Hcw Biologics Inc is trading down about 0.4% on the day Monday. This purchase marks the first one filed by Wong in the past twelve months. And at Paycor, there was insider buying on Friday, by Chief Revenue Officer Charles Steven Mueller who purchased 55,000 shares at a cost of $23.00 each, for a trade totaling $1.27M. This buy marks the first one filed by Mueller in the past twelve months. Paycor is trading up about 0.3% on the day Monday. Mueller was up about 21.7% on the buy at the high point of today’s trading session, with PYCR trading as high as $27.99 in trading on Monday.
An Insider at Group 1 Automotive (NYSE: GPI) is Selling Shares (Analyst Ratings)
Yesterday, an Insider at Group 1 Automotive (GPI), Max Watson, sold shares of GPI for $2.25M. Following Max Watson’s last GPI Sell transaction on October 30, 2019, the stock climbed by 51.8%. Based on Group 1 Automotive’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.01 billion and quarterly net profit of $102 million.
