Carl Icahn Builds Stake in Caesars Entertainment: Sources (CNBC)
Billionaire activist investor Carl Icahn is building a stake in casino company Caesars Entertainment, sources familiar with the situation said. The size of Icahn’s stake is not immediately known. Caesars shares jumped more than 5.5 percent on Friday. The shares dropped 46 percent last year. Icahn did not immediately respond to a CNBC request for comment. Last year, another billionaire proposed to make a deal for shares of the casino operator. Tilman Fertitta and advisors offered $13 a share in cash and stock, CNBC reported in October.
Citigroup Allows Hedge Fund ValueAct More Access (Reuters)
NEW YORK (Reuters) – Citigroup Inc (C.N) will give ValueAct Capital more access to its books and board of directors, signaling that the bank and the activist investing firm are deepening their relationship roughly a year after ValueAct first invested in Citi. The two said on Friday that they had entered into an “information sharing and engagement agreement,” which will allow for a “deeper level of engagement and cooperation.”
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Brexiters Know a Bad Trade When They See One (Bloomberg)
Crispin Odey thinks Brexit will be canceled. He’s not alone. Capturing the mood of the public better than pollsters or politicians can win you big money. Prominent Brexit supporter Crispin Odey proved it when he correctly wagered that the U.K. would vote to leave the European Union. It matters that the hedge fund manager now says he’s betting that the pound will rebound on the basis that Brexit won’t actually happen after all. It suggests that even Brexiters know a bad trade when they see one.
$21 billion Hedge Fund BlueMountain Capital is Axing its Long-short Equity Fund After Only 2 Years and Firing Several Portfolio Managers (Business Insider)
$21 billion hedge fund BlueMountain Capital Management is closing its long-short equity fund in an effort to shift just two years after launching it, a source familiar with the situation tells Business Insider. As a result, four equity portfolio managers were fired this week, several sources tell Business Insider. BlueMountain recruited several money managers from other funds as it restructured its equity business in 2018, including Mahmood Reza from billionaire Leon Cooperman‘s Omega Advisors to make investments in financial companies and Sanket Patel from Citadel alum Anand Parekh‘s Alyeska Investment Group to manage energy investments.
Insider Buying: La Jolla Pharmaceutical (LJPC) Director Buys 1,300,000 Shares of Stock (MareaInformativa.com)
La Jolla Pharmaceutical (NASDAQ:LJPC) Director Kevin C. Tang purchased 1,300,000 shares of the firm’s stock in a transaction on Wednesday, January 9th. The shares were acquired at an average cost of $5.37 per share, for a total transaction of $6,981,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: New Mountain Finance Corp. (NMFC) Director Purchases 181,805 Shares of Stock (PressOracle.com)
New Mountain Finance Corp. (NYSE:NMFC) Director Steven B. Klinsky purchased 181,805 shares of New Mountain Finance stock in a transaction that occurred on Monday, December 17th. The stock was acquired at an average cost of $12.52 per share, with a total value of $2,276,198.60. Following the acquisition, the director now directly owns 56,009 shares in the company, valued at approximately $701,232.68. The acquisition was disclosed in a document filed with the SEC.
Insider Selling: Portola Pharmaceuticals Inc (PTLA) Director Sells 64,218 Shares of Stock (BaseballDailyDigest.com)
Portola Pharmaceuticals Inc (NASDAQ:PTLA) Director Charles J. Homcy sold 64,218 shares of the company’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $18.61, for a total transaction of $1,195,096.98. The sale was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: Genomic Health, Inc. (GHDX) CEO Sells 25,000 Shares of Stock (ModernReaders.com)
Genomic Health, Inc. (NASDAQ:GHDX) CEO Kimberly J. Popovits sold 25,000 shares of Genomic Health stock in a transaction that occurred on Monday, December 17th. The stock was sold at an average price of $66.89, for a total value of $1,672,250.00. The sale was disclosed in a document filed with the SEC.
Insider Buying: Meet Group Inc (MEET) Major Shareholder Acquires $284,477.34 in Stock (MareaInformativa.com)
Meet Group Inc (NASDAQ:MEET) major shareholder Luxor Capital Group, Lp bought 58,898 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were acquired at an average price of $4.83 per share, for a total transaction of $284,477.34. The purchase was disclosed in a legal filing with the SEC.
