Elliott Management Has a More Than $1 Billion Stake in Citrix Systems (The Wall Street Journal)
Activist hedge fund Elliott Management Corp. has a more than $1 billion stake in Citrix Systems Inc. and wants the software company to take action to boost its lagging stock price, according to people familiar with the matter. Elliott recently informed Citrix it has a stake of more than 10% in the company and would like to work with it to improve its valuation, the people said. A stake of that size would be valued at around $1.3 billion, based on Citrix’s market value of nearly $13 billion as of Tuesday.
Alan Howard-Backed 10T Raises $750 Million for Debut Crypto Fund (Bloomberg)
Private equity firm 10T Holdings raised $750 million for its first fund to pursue investments in fast-growing cryptocurrency companies. It started gathering money from investors at the end of last year and has already deployed about 80% in mid-to-late stage companies in the ecosystem for digital assets, according to founder Dan Tapiero, who started 10T in 2020 after more than two decades of macro investing. Billionaire hedge fund manager Alan Howard is among the fund’s biggest backers, along with public pensions including the Municipal Employees’ Retirement System of Michigan, Tapiero said in a phone interview.
Hedge Funds Slash Exposure to China Amid Ongoing Regulatory Crackdown (CNBC)
Hedge fund exposure to Chinese equities and indexes listed in the U.S. has dropped to a two-year low due to a sharp reduction in prices and selling of positions, according to a new client note by Credit Suisse. The firm showed a decline in so-called net exposure – a way of showing riskiness to swings in Chinese equities – from upwards of 2 percent at the end of last year to roughly 0.75 percent as of August 25.
Wednesday 9/8 Insider Buying Report: DPW, WOOF (Nasdaq.com)
At Ault Global Holdings, a filing with the SEC revealed that on Tuesday, Executive Chairman Milton C. Ault III purchased 507,400 shares of DPW, for a cost of $2.66 each, for a total investment of $1.35M. Ault III was up about 6.7% on the purchase at the high point of today’s trading session, with DPW trading as high as $2.84 at last check today. Ault Global Holdings is trading up about 1.7% on the day Wednesday. Before this latest buy, Ault III bought DPW at 12 other times during the past twelve months, for a total cost of $346,566 at an average of $2.48 per share. And at Petco Health & Wellness, there was insider buying on Tuesday, by CEO & Chairman Ron Coughlin who purchased 46,600 shares at a cost of $21.72 each, for a total investment of $1.01M.
The Divisional General Manager of Coca-Cola Europacific Partners (NYSE: CCEP) is Selling Shares (Analyst Ratings)
Today, the Divisional General Manager of Coca-Cola Europacific Partners (CCEP), Leendert Den Hollander, sold shares of CCEP for $122.3K. Following Leendert Den Hollander’s last CCEP Sell transaction on March 17, 2021, the stock climbed by 8.1%. The company has a one-year high of $63.04 and a one-year low of $33.15. CCEP’s market cap is $27.84 billion and the company has a P/E ratio of 37.30.
Former CFO of Drugmaker Aceto Going to Prison for Insider Trading (Newsday)
The former longtime chief financial officer of drugmaker Aceto Corp. in Port Washington has been sentenced to six months in prison for insider trading. Douglas Roth, 64, will begin serving the sentence next month at the Federal Correctional Institution in upstate Otisville, according to an order by U.S. District Court Judge Joan M. Azrack in Central Islip. After being released from prison, Roth will be confined to his East Northport home for six months. He also must pay a $150,000 fine.
