Commvault Faces Proxy Battle with Activist Hedge Fund Elliott Management (CNBC)
Commvault, a provider of backup and recovery software, will soon find itself in a proxy battle with Elliott Management. Elliott plans to nominate four directors for Commvault’s 11 member board. The hedge fund controls 10.3 percent of Commvault’s shares, making it one of the largest shareholders, according to a letter to management that was made public on Monday. The nominating window for Commvault directors closes later this week. Elliott is said to be frustrated with Commvault’s margins and will wage the proxy fight in an effort to either have management improve margins or have the company sold.
HG Vora Capital Urges LaSalle for Sale After Buying 7 percent Stake (Reuters)
(Reuters) – Hedge fund HG Vora Capital Management LLC on Monday urged LaSalle Hotel Properties Inc (LHO.N) to negotiate with fellow U.S. hotel owner Pebblebrook Hotel Trust (PEB.N) for a better offer after taking about 7.1 percent stake in LaSalle. Pebblebrook had last week disclosed that it had offered to buy LaSalle in an all-stock deal that valued the company at more than $3 billion. The offer was rejected by LaSalle’s board. Shares of LaSalle rose about 1 percent to $29.28 in premarket trading, giving the company a market capitalization of about $3.31 billion. In a letter to LaSalle’s management, founder of the hedge fund, Parag Vora, said Pebblebrook’s initial offer was “inadequate”, but presents a “compelling” opportunity for a more efficient cost of capital and stronger cash flows.
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General Electric Company (GE): Ripe for the Wizard of Omaha’s Picking? (SmarterAnalyst.com)
Wall Street buzz is pointing to Berkshire Hathaway, the hedge fund firm steered by legendary guru Warren Buffett handpicking General Electric Company (NYSE:GE) as its next financial Cinderella story. RBC Capital analyst Deane Dray comments from the sidelines, musing that in more ways than one, “GE’s current situation fits the profile of an ideal Warren Buffett investment.” “Berkshire Hathaway has a history of investing in storied businesses struggling at steep valuation dislocations,” Dray highlights, aware that this industrial company has built an empire on legacy: “GE is a 125-year-old iconic industrial brand with strong assets, market leadership in many industries, and a business model that Mr. Buffett understands.”
Wharton’s Adam Grant: How to Receive Criticism Without Being Left Crushed and Unmotivated (CNBC)
Dealing with criticism productively was the topic of the first episode of Grant’s new podcast, which launched in February. For the episode, Grant talks to Ray Dalio, the billionaire founder of the hedge fund Bridgewater Associates, which currently has $160 billion in assets under management. Bridgewater Associates has a trademark policy of radical transparency. Everyone at the company speaks their minds. “One of the biggest tragedies of mankind is people holding in their opinions in their heads. And it’s such a tragedy,” says Dalio on the podcast. If people shared their ideas bad ones could be fixed and good ones could become better, which he calls “stress-testing” ideas. “They would so raise their probability of making a better decision,” he adds.
Insider Buying: OncoCyte (OCX) Major Shareholder Acquires $5,000,000.04 in Stock (TheLincolnianOnline.com)
OncoCyte (NYSEAMERICAN:OCX) major shareholder Broadwood Partners, L.P. bought 3,968,254 shares of the firm’s stock in a transaction that occurred on Wednesday, March 28th. The stock was acquired at an average price of $1.26 per share, for a total transaction of $5,000,000.04. The purchase was disclosed in a legal filing with the SEC.
Insider Buying: Adaptimmune Therapeutics (NASDAQ:ADAP) Major Shareholder Buys 104,844 Shares of Stock (RegistrarJournal.com)
Adaptimmune Therapeutics (NASDAQ:ADAP) major shareholder Ravi Viswanathan bought 104,844 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average price of $1.81 per share, for a total transaction of $189,767.64. The acquisition was disclosed in a filing with the SEC.
Insider Selling: Solaredge Technologies Inc (SEDG) VP Sells 28,000 Shares of Stock (LedgerGazette.com)
Solaredge Technologies Inc (NASDAQ:SEDG) VP Meir Adest sold 28,000 shares of Solaredge Technologies stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $56.44, for a total value of $1,580,320.00. Following the completion of the sale, the vice president now directly owns 13,750 shares of the company’s stock, valued at $776,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Autodesk (ADSK) Insider Sells $2,570,369.61 in Stock (TheLincolnianOnline.com)
Autodesk (NASDAQ:ADSK) insider Andrew Anagnost sold 20,499 shares of Autodesk stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $125.39, for a total transaction of $2,570,369.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Insider Buying: Aberdeen Latin America Equity Fund, Inc. (LAQ) Major Shareholder Acquires 15,000 Shares of Stock (RegistrarJournal.com)
Aberdeen Latin America Equity Fund, Inc. (NYSEAMERICAN:LAQ) major shareholder City Of London Investment Grou bought 15,000 shares of the stock in a transaction on Thursday, March 22nd. The stock was purchased at an average price of $27.54 per share, for a total transaction of $413,100.00. The purchase was disclosed in a document filed with the SEC.
Insider Buying: First Acceptance Co. (NYSE:FAC) Director Purchases 14,950 Shares of Stock (StockNewsTimes.com)
First Acceptance Co. (NYSE:FAC) Director Rhodes R. Bobbitt purchased 14,950 shares of First Acceptance stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average cost of $0.85 per share, for a total transaction of $12,707.50. Following the purchase, the director now directly owns 479,661 shares in the company, valued at $407,711.85. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
Insider Buying: J.Jill Inc (JILL) Director Purchases 10,000 Shares of Stock (LedgerGazette.com)
J.Jill Inc (NYSE:JILL) Director Michael A. Eck purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average cost of $4.53 per share, for a total transaction of $45,300.00. Following the completion of the purchase, the director now owns 22,707 shares of the company’s stock, valued at approximately $102,862.71. The acquisition was disclosed in a filing with the SEC.
