Elliott Turns to Snail Mail in NXP Mom-and-Pop Investor Campaign (Reuters)
(Reuters) – Activist hedge fund Elliott Management Corp launched a campaign on Thursday to convince NXP Semiconductor NV (NXPI.O) mom-and-pop investors to shoot down a $38 billion deal to sell the semiconductor company to larger peer Qualcomm Inc (QCOM.O). The campaign involves posting glossy presentations to tens of thousands of individual NXP shareholders, as opposed to institutional investors such as mutual funds. Such mom-and-pop investors account for an estimated 11.6 percent of NXP’s shareholder base.
David Einhorn’s Greenlight Capital Lost 6% in January (The Wall Street Journal)
David Einhorn’s Greenlight Capital lost roughly 6% in January, extending a multiyear period of weakness for the hedge fund. The losses range from 5.8% to 6.6% depending on the fund, according to a letter sent to investors Wednesday, with Greenlight hurt by the portfolio of stocks it had bet against rising more than two times the S&P 500, Greenlight wrote.
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Steve Cohen Needs to Prove Himself to Wall Street All Over Again (Bloomberg)
There’s a low-slung glass and brick building in Stamford, Conn., steps from Long Island Sound, that once housed one of the most successful hedge funds ever. Inside, the halls are still adorned with works by Jeff Koons and Jasper Johns. The trading room—where phones blink instead of ring—is still kept at 69F to keep traders awake. And Steve Cohen still sits in the middle of it, watching the tape and making his bets. In February the billionaire trader will begin to rebuild his firm, taking in client capital after a two-year ban from managing money for other people. It’s not a banner day for regulators, given that the government spent the better part of a decade going after Cohen. One prosecutor called his former firm, SAC Capital Advisors, a “criminal enterprise” that produced some of its returns by trading on inside information.
Corvex’s Keith Meister Launches Energen Proxy War (TheStreet)
Corvex Management LP‘s Keith Meister on Wednesday escalated his effort to drive a sale of Energen Corp. (EGN – Get Report) by nominating a minority-slate of four dissident director candidates to the company’s nine-person board. “Today we are nominating four highly-qualified, independent director candidates who will bring fresh perspectives and relevant experience along with a simple mandate—to run the company in the best interests of all shareholders,” Meister said in a statement. The escalation comes after Meister, a 10% shareholder, had been urging Energen to hire a bank to explore strategic alternatives such as a sale. He said in October that the case for M&A is “simply too compelling to ignore” and he noted that significant benefits could be unlocked through consolidation.
Insider Buying: Opko Health Inc. (NASDAQ:OPK) CEO Purchases 100,000 Shares of Stock (The Ledger Gazette)
Opko Health Inc. (NASDAQ:OPK) CEO Phillip Md Et Al Frost acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were acquired at an average cost of $4.89 per share, with a total value of $489,000.00. Following the transaction, the chief executive officer now owns 3,068,951 shares in the company, valued at $15,007,170.39. The transaction was disclosed in a legal filing with the SEC.
Insider Buying: China Fund Inc (CHN) Major Shareholder Acquires 5,370 Shares of Stock (TheLincolnianOnline)
China Fund Inc (NYSE:CHN) major shareholder City Of London Investment Grou bought 5,370 shares of the stock in a transaction on Monday, January 22nd. The shares were bought at an average price of $23.65 per share, for a total transaction of $127,000.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Buying: Dorchester Minerals LP (DMLP) Insider Purchases $63,506.50 in Stock (Stock News Times)
Dorchester Minerals LP (NASDAQ:DMLP) insider Minerals Operating Dorchester acquired 3,925 shares of Dorchester Minerals stock in a transaction on Friday, January 26th. The shares were bought at an average cost of $16.18 per share, with a total value of $63,506.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Insider Selling: Herbalife Ltd. (NYSE:HLF) Insider Sells 2,618 Shares of Stock (Week Herald)
Herbalife Ltd. (NYSE:HLF) insider Shin-Shing Bosco Chiu sold 2,618 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $74.87, for a total value of $196,009.66. Following the transaction, the insider now owns 6,038 shares of the company’s stock, valued at approximately $452,065.06. The sale was disclosed in a document filed with the Securities & Exchange Commission.
Insider Buying: Galenfeha Inc (GLFH) CEO Purchases $11,600.00 in Stock (The Ledger Gazette)
Galenfeha Inc (OTCMKTS:GLFH) CEO James Ketner acquired 580,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was acquired at an average price of $0.02 per share, for a total transaction of $11,600.00. The transaction was disclosed in a filing with the SEC.
