Och-Ziff to Change Structure, Looking to Future Beyond Founder (The Wall Street Journal)
Daniel Och is ceding some of the chips in his hedge-fund empire as he hands over the reigns to the next generation of leaders. Och-Ziff Capital Management Group OZM 14.87% LLC on Thursday revealed sweeping strategic changes designed to distribute power among a wider range of shareholders and help ensure the largest U.S. publicly traded hedge fund remains on firm financial footing. Och-Ziff said Mr. Och and several former managing directors would reallocate roughly 35% of their shares to Och-Ziff’s current directors in a new share class.
Cryptocurrency Index Fund Follows Warren Buffett’s Playbook, But with a $1 million Bet Against the S&P (CNBC)
A cryptocurrency asset manager is mimicking the playbook of one of the industry’s most notable critics: Warren Buffett. Morgan Creek Digital is recreating Buffett’s famous $1 million wager pitting the performance of the S&P 500 against a group of hedge funds. But unlike the famous value-investor, Morgan Creek is betting against the S&P and placing its faith in the 10-year performance of cryptocurrencies.
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Lampert’s Hedge Fund Makes Bid for Sears Stores and Assets (The Wall Street Journal)
Edward Lampert, the chairman and biggest creditor of Sears Holdings Corp. SHLDQ 5.77% , has made an offer to buy the retailer’s stores and other assets out of bankruptcy court in a bid to keep control of the struggling chain. Mr. Lampert’s hedge fund ESL Investments Inc. is proposing to buy Sears, its real estate and brands like Kenmore in a deal that wouldn’t rely heavily on cash, and would instead use new borrowings, forgive Sears’s existing debts and roll over the company’s other debts.
Hedge Fund Titan Keith Meister on the Market Sell-off (CNBC)
Keith Meister, Corvex Management founder, joins ‘Squawk Box’ to discuss the volatility in the markets and if he sees a economic slowdown in the forecast.
Exclusive: Siris, Elliott Near Travelport Acquisition – Sources (Reuters)
(Reuters) – A consortium of buyout firm Siris Capital Group LLC and hedge fund Elliott Management is nearing an agreement to acquire travel software company Travelport Worldwide Ltd (TVPT.N), people familiar with the matter said on Thursday. The acquisition would mark the culmination of an eight-month-long effort by Elliott to clinch a deal for Travelport. The New York-based fund disclosed a 12 percent stake in the company in March and pushed it to explore a sale.
Insider Buying: Front Yard Residential Corp (RESI) Major Shareholder Acquires $2,577,000.00 in Stock (PressOracle.com)
Front Yard Residential Corp (NYSE:RESI) major shareholder Deer Park Road Management Comp bought 300,000 shares of Front Yard Residential stock in a transaction dated Thursday, November 29th. The stock was purchased at an average cost of $8.59 per share, for a total transaction of $2,577,000.00. The acquisition was disclosed in a filing with the SEC.
Insider Buying: Innodata Inc (INOD) Major Shareholder Buys 60,105 Shares of Stock (MareaInformativa.com)
Innodata Inc (NASDAQ:INOD) major shareholder Nauman Sabeeh Toor purchased 60,105 shares of the stock in a transaction dated Friday, November 9th. The shares were acquired at an average price of $1.44 per share, with a total value of $86,551.20. Following the transaction, the insider now owns 500,000 shares in the company, valued at $720,000. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Qumu Corp (QUMU) Major Shareholder Buys 47,193 Shares of Stock (FairFieldCurrent.com)
Qumu Corp (NASDAQ:QUMU) major shareholder Harbert Discovery Fund Gp, Llc acquired 47,193 shares of the company’s stock in a transaction on Friday, November 9th. The shares were bought at an average price of $2.52 per share, for a total transaction of $118,926.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Insider Buying: Summer Infant, Inc. (SUMR) Major Shareholder Purchases 30,000 Shares of Stock (MaconDaily.com)
Summer Infant, Inc. (NASDAQ:SUMR) major shareholder Wynnefield Partners Small Cap bought 30,000 shares of Summer Infant stock in a transaction on Monday, December 3rd. The stock was acquired at an average price of $1.01 per share, with a total value of $30,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission.
Insider Selling: Ollie’s Bargain Outlet Holdings Inc (OLLI) COO Sells 48,000 Shares of Stock (FairFieldCurrent.com)
Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) COO John W. Swygert sold 48,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $88.84, for a total transaction of $4,264,320.00. Following the sale, the chief operating officer now owns 77,193 shares of the company’s stock, valued at $6,857,826.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
