Third Point and Moore Among Top Alibaba Buyers in Q1 (Hedge Week)
Moore Capital Management and Third Point were among the hedge funds to make bullish bets on Alibaba Group Holding Ltd in the first quarter of this year, along with money manager Michael “Big Short” Burry, according to a report by Bloomberg. The report cites analysis of 13F filings as revealing that the funds were among the biggest buyers of the Chinese e-commerce giant’s stock in Q1, with six Asia-based hedge firms accounting for nearly half of Alibaba ADRs offloaded by hedge fund sellers over the quarter.
Insider Trades & Hedge Fund Moves: Carl Icahn Tosses Out Illumina Chair (Investing.com)
Illumina board chair voted out, but CEO survives vote: Illumina (NASDAQ:ILMN) shares plunged nearly 9% on Thursday after activist investor Carl Icahn successfully ousted Illumina’s board chairman, John Thompson, with shareholder support, while his efforts to remove the company’s CEO Francis deSouza from the board failed, surviving the vote. Icahn’s board nominees Vincent Intrieri and Jesse Lynn failed to secure enough votes. Shareholders voted for one of Icahn’s three nominees, Andrew Teno, to join Illumina’s board. The company plans to select a new chair in the coming weeks.
Prosecutors Argue Against Dismissing Sam Bankman-Fried’s Criminal Charges (Fox Business)
Prosecutors on Monday asked a Manhattan federal court judge to deny FTX founder Sam Bankman-Fried’s request to dismiss criminal charges stemming from allegations he stole billions of dollars from his company’s customers to make up for losses at his hedge fund. Bankman-Fried, 31, has pleaded not guilty to 13 counts of fraud, conspiracy, making illegal campaign contributions and foreign bribery.
Tuesday 5/30 Insider Buying Report: RNR, UBSI (Nasdaq.com)
At RenaissanceRe Holdings, a filing with the SEC revealed that on Friday, Pres & Chief Executive Officer Kevin Odonnell purchased 13,020 shares of RNR, at a cost of $192.00 each, for a total investment of $2.5M. RenaissanceRe Holdings is trading up about 1% on the day Tuesday. This buy marks the first one filed by Odonnell in the past twelve months. And on Thursday, Director Lacy I. Rice III bought $294,348 worth of United Bankshare, buying 10,000 shares at a cost of $29.43 a piece. This buy marks the first one filed by Rice III in the past year. United Bankshares is trading down about 0.6% on the day Tuesday.
Over $5M Bet On Southwest Gas? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Southwest Gas Holdings: The Trade: Southwest Gas Holdings, Inc. (SWX) 10% owner Icahn Partners Master Fund LP acquired a total 89,617 shares an average price of $57.93. To acquire these shares, it cost around $5.19 million. ACADIA Pharmaceuticals: The Trade: ACADIA Pharmaceuticals Inc. (ACAD) 10% owner Baker Brothers Life Sciences LP acquired a total of 921,522 shares at an average price of $25.10. To acquire these shares, it cost around $23.13 million.
