McDonald’s: We May Be Liars, But Carl Icahn’s A Hypocrite (Deal Breaker)
If you doubted the seriousness of Carl Icahn’s concern for the suffering of sows wh ose sons are destined to become McDonalds’s sausage patties, well, doubt no more: He’s doubled his stake in the fast-food chain (to a staggering 200 shares) and is doing what he does best, taking this fight to the schoolyard of the annual general meeting.
EXCLUSIVE: This Top Hedge Fund Manager Is Bullish On US Cannabis Stocks, Here’s Why (Benzinga)
Investment expert and former hedge fund manager Whitney Tilson, current president and CEO of Empire Financial Research, recently stopped by Benzinga Cannabis Hour to discuss his investment thesis including his 2022 outlook as it pertains to the booming cannabis industry.
Hedge Funds Slash Tech In Pivot To Other Strategies, Goldman Report Says (FA.Mag.com)
U.S. hedge funds have been slashing positions in technology stocks, and started 2022 more tilted toward cheaper shares than at any time in over a decade, according to Goldman Sachs Group Inc. “Filings show hedge funds positioning for a different equity market environment than the one that has characterized most of the last several years,” strategists led by Ben Snider wrote in a note to clients. Funds with $2.6 trillion of gross equity holdings have reduced positions in more expensive growth sectors in favor of energy and financials, according to the note.
Cohen-Backed Sports Collectibles Firm Signs N.J. Office Lease (Bloomberg)
Collectors Holdings, owned by hedge fund billionaire Steve Cohen and partners, signed a major office lease in New Jersey as it expands on the East Coast. The Santa Ana, California-based firm, the parent of Professional Sports Authenticator, is renting roughly 130,000 square feet (12,100 square meters) of offices at Harborside 3 on the Jersey City waterfront, according to a statement Wednesday.
Wednesday 2/23 Insider Buying Report: IAA, GWRS (Nasdaq.com)
On Friday, IAA (IAA)’s Director, Peter Kamin, made a $5.05M buy of IAA, purchasing 142,100 shares at a cost of $35.56 each. IAA is trading up about 1% on the day Wednesday. Before this latest buy, Kamin made one other buy in the past twelve months, purchasing $3.93M shares for a cost of $35.76 each. And on Monday, Director Andrew M. Cohn bought $440,000 worth of Global Water Resources (GWRS), buying 27,500 shares at a cost of $16.00 each. Before this latest buy, Cohn bought GWRS on 7 other occasions during the past year, for a total investment of $512,396 at an average of $16.49 per share. Global Water Resources is trading up about 2.1% on the day Wednesday. Investors are able to pick up GWRS even cheaper than Cohn did, with the stock trading as low as $15.18 at last check today which is 5.1% below Cohn’s purchase price.
SEC Charges Director of Investor Relations with Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged John-Michael Havrilla, a former employee of medical device company PAVmed Inc., for insider trading in advance of the company’s April 2020 positive earnings announcement. To settle the charges against him, Havrilla agreed to pay more than $160,000 in civil penalties and consented to a five-year officer-and director-bar and injunctive relief. The SEC’s complaint, filed in federal court in Manhattan, alleges that three days before the April 9, 2020 earnings release, Havrilla, then Director of Investor Relations for PAVmed, received a draft copy of the company’s earnings results for the fourth quarter and full year of 2019.
