York Capital to Spin Off US$2.7b Asia Hedge Fund Firm (The Business Times)
[NEW YORK] York Capital Management‘s move to exit most of its hedge fund business will lead to the creation of a new Asia-based firm with US$2.7 billion of assets, according to a letter to investors. The Asia unit will be spun off next year and renamed MY Alpha Management. It will be led by Hong Kong-based regional chief investment officer Masahiko Yamaguchi, according to a letter from York’s chief executive officer Jamie Dinan and Mr Yamaguchi. Jonathan Gasthalter, a New York-based spokesman for the firm, declined to comment.
Hedge Funds Are Finally Beating the Market in 2020. Here Are Their Top Holdings. (Barron’s)
The most-owned stocks by hedge funds are handily topping the market’s performance this year, returning 32% from the start of 2020 through the end of last week. That compares with a roughly 12% gain for the S&P 500 in that period. That 20-point outperformance is the best showing by hedge funds since 2001, according to an analysis by Goldman Sachs. Within 45 days of the end of each quarter, hedge funds must report their holdings to the Securities and Exchange Commission on a regulatory form known as a 13F.
Ringcentral Inc (RNG) CEO & Chairman Vladimir Shmunis Sold $19.7 million of Shares (Guru Focus)
CEO & Chairman of Ringcentral Inc., Vladimir Shmunis, sold 66,340 shares of RNG on 11/23/2020 at an average price of $296.86 a share. The total sale was $19.7 million. RingCentral Inc provides software-as-a-service, or SaaS, solutions for business communications. Its solutions can be used in multiple devices including Smartphones, Tablets, PC’s and Desk Phones which allows for communication across multiple channels.
What Did This CEO Just Do with Personal Shares of LiveRamp Holdings (NYSE: RAMP)? (Analyst Ratings)
Yesterday, the CEO of LiveRamp Holdings (RAMP), Scott Howe, sold shares of RAMP for $19.66M. Following Scott Howe’s last RAMP Sell transaction on March 20, 2020, the stock climbed by 26.8%. This is Howe’s first Sell trade following 4 Buy transactions. Based on LiveRamp Holdings’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $105 million and GAAP net loss of -$23,968,000.
Wednesday 11/25 Insider Buying Report: CASI, CHMA (Nasdaq.com)
On Monday, CASI Pharmaceuticals’ CEO, Wei-wu He, made a $488,239 buy of CASI, purchasing 227,471 shares at a cost of $2.15 each. He was up about 38.4% on the buy at the high point of today’s trading session, with CASI trading as high as $2.97 in trading on Wednesday. CASI Pharmaceuticals, is trading up about 10.9% on the day Wednesday. Before this latest buy, He bought CASI at 4 other times during the past twelve months, for a total investment of $10.5M at an average of $1.85 per share. And also on Monday, Chief Executive Officer Raj Kannan purchased $480,492 worth of Chiasma, purchasing 120,000 shares at a cost of $4.00 a piece.
Insider Trading on Government Information (Law.com)
The federal government has always been a source of market-moving information, but its role in creating and distributing such information has been especially pronounced during the COVID-19 pandemic. Over the past 10 months, the government has made crucial decisions relating to partial economic shutdowns, the structure and size of stimulus programs, and the identification and promotion of testing, vaccines and treatments for COVID-19.
