The 10 Richest Hedge Fund Managers In The World Today (Celebrity Net Worth)
The past year and a half has been GREAT for hedge fund managers. After taking a temporary beating in the early days of the beginning of pandemic, hedge fund managers have bounced back in a big way. Today, the top 25 richest hedge fund managers are now worth a combined $220 billion. That’s up $35 billion from last year. The biggest gainer in this elite group, for the second year in a row, is Chase Coleman. The 45-year-old founder of Tiger Global Management saw his net worth surge by more than $6 billion over the past year. Tiger Global Management manages $65 billion and has had net average annual returns of more than 20% since it was founded in 2001. Renaissance Technologies‘ Jim Simons is the richest hedge fund manager in the U.S. for the fourth year in a row.
Detroit Biz Approved to Buy Half of Ocean Casino for $175M (NJBiz)
New Jersey gaming regulators approved the bid for a Detroit-based hedge fund to acquire half ownership of Ocean Casino Resort for $175 million. Holding company Ilitch organization will own 50% while Ocean’s current owners, New York hedge fund Luxury Capital Group, will retain the remaining half. The plans were approved following two days of meetings by state gaming regulators, first by the New Jersey Division of Gaming Enforcement on Oct. 13, and by the state’s Casino Control Commission the next day. The sale is expected to go through in the next 30 days.
Jana Partners Takes Stake in Macy’s, Urges E-Commerce Spinoff (The Wall Street Journal)
An activist shareholder has taken a stake in Macy’s Inc. and is urging the famed retailer to spin off its fast-growing e-commerce business, according to people familiar with the matter. Jana Partners LLC sent a letter Wednesday to the company’s board prodding it to separate the online unit, which has about $8 billion in annual revenue, the people said.
Photo by Austin Distel on Unsplash
Why Are Hedge Fund Managers Pouring Money into Uranium Stocks? 3 Things to Know (Moguldom)
Hedge fund managers are pouring money into stocks of uranium, a naturally radioactive element that powers nuclear reactors and atomic bombs, after the nuclear fuel saw a 37-percent rally in prices. Uranium is one of the cleanest ways to produce electricity and is mainly used in nuclear power plants. Demand is rising for the metal. At least 16 African countries have or produce uranium, with 18 percent of the global supply coming from Namibia, Niger and South Africa.
Health Care Funds Are Still Struggling (Institutional Investor)
Several life sciences hedge funds are down by double-digits this year. Hedge funds specializing in life sciences and health care stocks continue to have a rough time. While several of these funds generated small gains in the third quarter, most of them remain solidly in the red for the year.
Ex-Hedge Fund Manager From NY, FL Admits $6.8M COVID-19 Scam In NJ Federal Court (Daily Voice)
A dual New York/Florida resident admitted in federal court in Newark that he schemed to steal more than $6.8 million in COVID-19 payroll protection loans — $3 million of which the government said he flushed away in the stock market. Gregory J. Blotnick applied to 13 lenders for 21 loans over a period of nearly a year, beginning in March 21, 2020, lying about the number of employees at nine companies whom he supposedly needed to pay, federal authorities said.
The Executive of DLP Resources (Other OTC: DLPRF) is Buying Shares (Analyst Ratings)
Today, the Executive of DLP Resources (DLPRF), John James Stypula, bought shares of DLPRF for $9,900. Following this transaction John James Stypula’s holding in the company was increased by 2% to a total of $998.9K. In addition to John James Stypula, one other DLPRF executive reported Buy trades in the last month. DLPRF’s market cap is $11.25 million and the company has a P/E ratio of -4.30. Currently, DLP Resources has an average volume of.
Friday 10/15 Insider Buying Report: LTH, CGTX (Nasdaq.com)
At Life Time Group Holdings, a filing with the SEC revealed that on Tuesday, Director Stuart G. Lasher purchased 138,888 shares of LTH, at a cost of $18.00 each, for a total investment of $2.5M. Investors have the opportunity to bag LTH even cheaper than Lasher did, with the stock changing hands as low as $17.16 at last check today — that’s 4.7% under Lasher’s purchase price. Life Time Group Holdings is trading down about 0.2% on the day Friday. And at Cognition Therapeutics, there was insider buying on Wednesday, by CEO & President Lisa Ricciardi who bought 12,500 shares for a cost of $12.00 each, for a total investment of $150,000. Cognition Therapeutics is trading up about 1.6% on the day Friday. So far Ricciardi is in the green, up about 4.1% on their buy based on today’s trading high of $12.49.
The Executive of Hydro66 Holdings (Other OTC: HYHDF) is Buying Shares (Analyst Ratings)
Today, the Executive of Hydro66 Holdings (HYHDF), David Rowe, bought shares of HYHDF for $360.2K. Following this transaction David Rowe’s holding in the company was increased by 7% to a total of $5.48 million. HYHDF’s market cap is $13.06 million and the company has a P/E ratio of 0.50. Currently, Hydro66 Holdings has an average volume of 12.00K.
Thursday 10/14 Insider Buying Report: CLST, ASPU (Nasdaq.com)
On Tuesday, Catalyst Bancorp’s Director, Ted D. Bellard, made a $250,000 purchase of CLST, buying 25,000 shares at a cost of $10.00 each. So far Bellard is in the green, up about 38.5% on their buy based on today’s trading high of $13.85. Catalyst Bancorp is trading up about 1.3% on the day Thursday. This buy marks the first one filed by Bellard in the past year. And on Wednesday, Director Douglas Kass purchased $16,536 worth of Aspen Group, purchasing 3,000 shares at a cost of $5.51 a piece. Before this latest buy, Kass purchased ASPU at 6 other times during the past year, for a total cost of $203,232 at an average of $5.41 per share. Aspen Group Inc is trading up about 1.5% on the day Thursday.
Chief Executive Officer Of Zoom Video Communications Trades $25M In Company Stock (Benzinga)
Eric Yuan, Chief Executive Officer at Zoom Video Communications (NASDAQ:ZM), made a large buy and sell of company shares on October 13, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Eric Yuan exercised options to purchase 96,154 Zoom Video Communications shares for $0 on October 13. They then sold their shares on the same day in the open market. They sold at prices ranging from $257.77 to $267.68 to raise a total of $25,456,896 from the stock sale.
