Crestbridge Named Best Regulatory Advisory and Compliance Firm at Hedgeweek Awards (Hedge Week)
Crestbridge has been recognised for its regulatory expertise and the quality of the support it provides to fund managers through its management company and regulatory services at a leading alternative fund awards initiative. The firm was named ‘Best Regulatory Advisory and Compliance Firm’ at this year’s Hedgeweek European Awards, which took place in London this week (26 February) and recognise performance and excellence amongst hedge fund managers and service providers across Europe. Winners for the annual Awards were selected following an online poll of Hedgeweek readers, which included investors, fund managers and service providers.
Hedge Funds’ Most-Owned Names Reveal Tech Is the Place to Be (The Street)
After breaking down the major investment moves of ten of the world’s most prominent hedge funds, we saw some clear trends. By analyzing the David Teppers, Berkshires and Bridgewaters of the world, we found no one was very fond of energy stocks, financials weren’t noticeable in most anyone’s core positions (Warren Buffett was the exception) and tech was the one sector most agreed on, though there wasn’t much consensus on specific companies.
Friday 2/28 Insider Buying Report: SLRC, MRC (Nasdaq.com)
At Solar Capital, a filing with the SEC revealed that on Thursday, See Remarks Michael S. Gross bought 41,000 shares of SLRC, at a cost of $19.41 each, for a total investment of $795,820. Bargain hunters are able to grab SLRC even cheaper than Gross did, with the stock trading as low as $18.35 in trading on Friday which is 5.5% under Gross’s purchase price. Solar Capital is trading off about 4.3% on the day Friday. Before this latest buy, Gross made one other buy in the past twelve months, purchasing $167,523 shares for a cost of $21.54 each. And at MRC Global, there was insider buying on Wednesday, by Director H. B. Wehrle III who bought 50,000 shares at a cost of $8.88 each, for a trade totaling $444,000. This purchase marks the first one filed by Wehrle III in the past year. MRC Global is trading up about 0.2% on the day Friday. Bargain hunters have the opportunity to snag MRC at a price even lower than Wehrle III did, with the stock trading as low as $8.45 at last check today — that’s 4.8% under Wehrle III’s purchase price.
A Director at Cheniere Energy (NYSE MKT: LNG) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Cheniere Energy (LNG), Andrea Botta, bought shares of LNG for $251.2K. This recent transaction increases Andrea Botta’s holding in the company by 10.79% to a total of $2.7 million. Following Andrea Botta’s last LNG Buy transaction on August 19, 2016, the stock climbed by 2.9%.
SEC Charges Wells Fargo In Connection With Investment Recommendation Practices (HedgeCo.Net)
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors. As noted in the SEC’s order and reflected in Wells Fargo’s internal guidance, when single-inverse ETFs are held for longer than a day, particularly in volatile markets, investors may experience large and unexpected losses.
The Chairman & CEO of US Concrete (NASDAQ: USCR) is Buying Shares (Analyst Ratings)
Yesterday, the Chairman & CEO of US Concrete (USCR), William Sandbrook, bought shares of USCR for $419.4K. This recent transaction increases William Sandbrook’s holding in the company by 3.72% to a total of $11.35 million.
