Allianz Fires Two Managers in Wake of Investment Fund Collapse (Reuters)
FRANKFURT, Feb 21 (Reuters) – Allianz (ALVG.DE) has dismissed two asset managers who oversaw a group of investment funds that collapsed after racking up massive losses when the spread of coronavirus triggered wild market swings, according to regulatory filings.
Tuesday 2/22 Insider Buying Report: CROX, ECL (Nasdaq.com)
At Crocs, a filing with the SEC revealed that on Thursday, Director Thomas J. Smach bought 12,356 shares of CROX, for a cost of $86.35 each, for a total investment of $1.07M. Investors are able to pick up CROX at a price even lower than Smach did, with shares trading as low as $78.15 in trading on Tuesday — that’s 9.5% below Smach’s purchase price. Crocs is trading up about 4.5% on the day Tuesday. And also on Thursday, Jeffrey M. Ettinger bought $896,955 worth of Ecolab, buying 5,000 shares at a cost of $179.39 a piece. Ecolab is trading down about 0.2% on the day Tuesday. Bargain hunters have the opportunity to snag ECL even cheaper than Ettinger did, with the stock changing hands as low as $176.24 at last check today which is 1.8% below Ettinger’s purchase price.
Insiders Buy More Than $170M Of 4 Stocks (Benzinga)
Republic Services: The Trade: Republic Services, Inc. (NYSE:RSG) 10% owner William Gates III acquired a total of 362,747 shares at an average price of $117.17. To acquire these shares, it cost around $42.5 million. Asana: The Trade: Asana, Inc (NYSE:ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 1,250,000 shares at an average price of $70.42. To acquire these shares, it cost around $88.03 million. Albemarle: The Trade: Albemarle Corporation (NYSE:ALB) Chairman, President and CEO Kent Masters bought a total of 5,241 shares at an average price of $190.80. To acquire these shares, it cost around $1 million.
SEC Settles Charges Against Silicon Valley Insider Trading Ring (HedgeCo.net)
(HedgeCo.Net) A federal district court judge has entered final consent judgments against Nathaniel Brown and Benjamin Wylam, which concluded the Securities and Exchange Commission’s case against a Silicon Valley insider trading ring whose members generated nearly $1.7 million in illegal profits and losses avoided by trading on the confidential earnings information of two local technology companies.
Money Unites: Republicans and Democrats Find Rare Bipartisanship Over Trading Stocks (The Guardian)
Nancy Pelosi likely did not expect to set off such a firestorm with her use of three words: free market economy. When the House speaker was asked in December whether she supports proposals to ban members and their spouses from trading individual stocks, she said no. “We’re a free market economy,” Pelosi said. “They should be able to participate in that.”
Tuesday’s Insider Report: CEO Invests Nearly $700,000 in This Financial Stock Yielding 5% (The Globe and Mail)
Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over. The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts. CAE Inc. (CAE-T): In a relatively small transaction, on Feb. 17, director Mary Lou Maher invested over $66,000 in shares of CAE. She acquired 2,000 shares at a cost per share of $33.12, lifting this specific account’s holdings to 4,500 shares. IGM Financial Inc. (IGM-T): On Feb. 15, president and chief executive officer James O’Sullivan bought 15,000 shares at an average price per share of approximately $45.73, increasing this particular account’s position to 30,763 shares. The cost of this purchase totaled nearly $686,000, not including trading fees.
