Hedge Funds See Second Consecutive Month of Average Performance Decline (Hedge Week)
Hedge funds continued to face a difficult market environment in October as for a second consecutive month the majority of funds saw performance declines. The average return in the hedge fund industry came in at -0.21 per cent in October. The tough first quarter of the year leading up to the global pandemic and the past two months have left the industry at a just-barely-positive +0.74 per cent return year to date (YTD). This is a stark contrast to the +10.05 per cent return the industry put up for all of 2019.
The Estee Lauder Inc (EL) President and CEO Fabrizio Freda Sold $19.3 million of Shares (Guru Focus)
President and CEO of The Estee Lauder Inc., Fabrizio Freda, sold 77,530 shares of EL on 11/11/2020 at an average price of $248.85 a share. The total sale was $19.3 million. The Estee Lauder Companies Inc is a beauty products manufacturer providing Skin care, Makeup, Fragrance and Hair care services. The Estee Lauder Companies Inc has a market cap of $89.91 billion; its shares were traded at around $248.65 with a P/E ratio of 151.63 and P/S ratio of 6.50.
Thursday 11/12 Insider Buying Report: VRTX, VRAY (Nasdaq.com)
On Tuesday, Vertex Pharmaceuticals’ Director, Bruce I. Sachs, made a $3.26M purchase of VRTX, buying 15,000 shares at a cost of $217.36 a piece. Vertex Pharmaceuticals is trading up about 1.9% on the day Thursday. This buy marks the first one filed by Sachs in the past year. And at ViewRay, there was insider buying on Tuesday, by CEO Scott William Drake who purchased 155,000 shares at a cost of $3.23 each, for a total investment of $499,906. ViewRay is trading up about 8.5% on the day Thursday. So far Drake is in the green, up about 14.4% on their purchase based on today’s trading high of $3.69.
What Did This CEO Just Do with Personal Shares of CorVel (NASDAQ: CRVL)? (Analyst Ratings)
On November 9, the CEO & President of CorVel (CRVL), Michael Combs, sold shares of CRVL for $273.1K. Following Michael Combs’ last CRVL Sell transaction on August 25, 2020, the stock climbed by 10.9%. In addition to Michael Combs, 4 other CRVL executives reported Sell trades in the last month. The company has a one-year high of $96.45 and a one-year low of $44.67. CRVL’s market cap is $1.68 billion and the company has a P/E ratio of 39.90. Currently, CorVel has an average volume of 26.51K.
Pfizer CEO Sold Shares on Same Day as the Company’s Coronavirus Vaccine News: Should You Be Outraged? (The Motley Fool)
This seems like another story of the greed of corporate executives, at least at first glance. On Monday, Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) announced exciting news. Their coronavirus vaccine candidate BNT162b2 achieved efficacy of at least 90% — a lot better than expected. This revelation was so good that it sparked a major stock-market rally. Then came more news: Pfizer CEO Albert Bourla sold some of his shares in the company on the same day of the big announcement about BNT162b2. Should you be outraged? Or are objections to the timing of Bourla’s stock sale much ado about nothing?
Linde Plc (LIN) CEO Stephen F Angel Sold $14.7 million of Shares (Guru Focus)
CEO of Linde Plc, Stephen F Angel, sold 56,000 shares of LIN on 11/09/2020 at an average price of $262.91 a share. The total sale was $14.7 million. Praxair Inc is a supplier of gas in the United States. It produces, distributes and sells atmospheric and process gases and surface coatings in North America, Europe, South America, and Asia. Its products are oxygen, helium, nitrogen and specialty gases.
