Friday 3/4 Insider Buying Report: JRVR, GLPI (Nasdaq.com)
On Thursday, James River Group Holdings’ Director, J. Adam Abram, made a $489,463 buy of JRVR, purchasing 24,000 shares at a cost of $20.39 a piece. James River Group Holdings is trading off about 3.2% on the day Friday. This buy marks the first one filed by Abram in the past twelve months. And at Gaming & Leisure Properties, there was insider buying on Tuesday, by Urdang E. Scott who purchased 5,516 shares at a cost of $45.37 each, for a total investment of $250,261. Before this latest buy, Scott purchased GLPI at 2 other times during the past year, for a total investment of $183,340 at an average of $45.84 per share. Gaming & Leisure Properties is trading down about 0.2% on the day Friday. Scorr was up about 1.6% on the buy at the high point of today’s trading session, with GLPI trading as high as $46.11 in trading on Friday.
Hedge Fund H2O Holds On to Ruble Bets as Exiting Would be a ‘Gift’ to Putin (Bloomberg)
H2O Asset Management said it is maintaining its exposure to the Russian ruble in part because exiting its positions would be a gift to Vladimir Putin. “We consider that selling Russian assets, among which currencies, at such discounted rates is a counterproductive ‘gift’ to buyers, among whom the Russian government,” London-based H2O said in a letter to investors seen by Bloomberg News.
Infinity Q Capital Faces Investor Lawsuit Against Firm (Pensions&Investments)
A class-action suit has been filed against troubled hedge fund and mutual fund manager Infinity Q Capital Management, some of its employees, affiliated companies and service providers. The suit was filed on Feb. 17 in U.S. District Court for the Eastern District of New York by Schiavi & Co., SBA Schiavi + Dattani, Dominus Multimanager Fund and individual investors and alleges that the defendants violated federal securities laws, manipulated the firm’s pricing methodology and overstated the value of the firm’s hedge fund and mutual funds.
Energy Hedge Fund Eyes $200 Oil on Potential Russia Export Ban (Bloomberg Quint)
(Bloomberg) — The prospect of restrictions on Russian energy exports could send oil prices above $200 per barrel, according to Westbeck Capital Management. The London-based hedge fund is among a cadre of commodities-focused funds betting on an extended rally for crude after Russia’s invasion of Ukraine, even as a potential Iran nuclear deal paves the way for Tehran to return to international markets. In a letter to investors, Westbeck said a lasting impairment to Russian oil exports coupled with demand destruction will probably drive prices into the $150 to $175 range, and could overshoot above $200 — nearly double its current price. It said that spike might in turn fuel rampant inflation, potentially forcing the Federal Reserve to slam the brakes on rate rises.
Insiders Sell Around $92M Of 4 Stocks (Benzinga)
Upstart Holdings: The Trade: Upstart Holdings, Inc. (UPST) CEO Dave Girouard disposed a total of around 133,038 shares at an average price of $158.33. The insider received around $21.06 million as a result of the transaction. Centennial Resource Development: The Trade: Centennial Resource Development, Inc. (CDEV) Director Riverstone/Gower Mgmt Co Holdings, L.P. sold a total of 5,075,191 shares at an average price of $8.73. The insider received around $44.29 million from selling those shares.
