Athenahealth May Drop to $110 Without Elliott Bid Says RBC (TheStreet)
On Monday, Sept. 18, The New York Post reported that Elliott Management, Paul Singer‘s hedge fund, is backing away from its $160-per-share bid for Athenahealth (ATHN). RBC analyst George Hill wrote, “absent the bid, we suspect Athenahealth shares could fall back to the $110-$120 range where they traded prior to the activist bid.” On Tuesday, Athenahealth was down 5% to around $135 a share in morning trading. The bid for a total sum of $6.9 billion was first made in May. The Post reported that Elliott while backing away from the initial bid, may be interested in lowering the price.
Is Billionaire Ray Dalio Right About The U.S. Economy? (Forbes)
When Ray Dalio talks, people listen. The billionaire founder of Bridgewater Associates, the world’s largest hedge fund, recently grabbed headlines when he told CNBC he thinks the U.S. economy is in the seventh inning. Dalio warned that he sees risks increasing “as time progresses” and that investors should be “more defensive” in the stock market. If he’s correct, and the current economic cycle is in its latter innings, that will obviously have significant consequences for future market returns.
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Crispin Odey Denies Plan To Become Royal Lord High Commissioner For Landfowl (DealBreaker)
Odey, an outspoken right-winger who backed Brexit and has previously donated to the Tory Party, UKIP and the Vote Leave campaign, told Financial News he is so unimpressed with the performance of the current political class, he feels compelled to play a bigger part in public office. “You suddenly realise you’ve got to become politically involved again,” Odey said. “I’ve wasted my time making money for the last 30 years and watching the body politic getting worse and worse.”
Investing Lessons From the Top of a $7.3 Billion Quant Fund (Bloomberg)
Igor Tulchinsky laid the groundwork for WorldQuant LLC, a $7.3 billion quantitative hedge fund with more than 700 employees, while working for Izzy Englander’s Millennium Management LLC. The 52-year-old native of Belarus now provides a rare look at how he built WorldQuant in his book, The UnRules: Man, Machines and the Quest to Master Markets (Wiley, Sept. 24, 2018).
Hedge Fund Pushes Forward with Caesars Plan (SeekingAlpha.com)
Caesars Entertainment (CZR -0.5%) and HG Vora Special Opportunities Fund are in receipt of HSR early termination notices from the FTC. Hedge fund HG Vora Capital Management has accumulated a 4.9% stake in Caesars through the fund, and wants the casino operator to explore options that could include divestitures or an outright sale.
Insider Buying: Safety Income & Growth Inc (NYSE:SAFE) Major Shareholder Purchases 129,600 Shares of Stock (MareaInformativa.com)
Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. purchased 129,600 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were bought at an average price of $16.35 per share, for a total transaction of $2,118,960.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Sanofi SA (SNY) Major Shareholder Sells 104,552 Shares of Stock (XNewsPress.com)
Sanofi SA (NYSE:SNY) major shareholder Sanofi sold 104,552 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $406.68, for a total transaction of $42,519,207.36. The sale was disclosed in a document filed with the Securities & Exchange Commission.
Insider Buying: Fuel Tech Inc (FTEK) CEO Purchases 22,967 Shares of Stock (XNewsPress.com)
Fuel Tech Inc (NASDAQ:FTEK) CEO Vincent J. Arnone purchased 22,967 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were purchased at an average cost of $1.02 per share, with a total value of $23,426.34. Following the completion of the acquisition, the chief executive officer now directly owns 472,374 shares in the company, valued at $481,821.48. The transaction was disclosed in a document filed with the SEC.
Insider Buying: ProtoKinetix, Inc. (PKTX) CEO Acquires 150,000 Shares of Stock (MareaInformativa.com)
ProtoKinetix, Inc. (OTCMKTS:PKTX) CEO Clarence Edward Smith bought 150,000 shares of the stock in a transaction on Monday, September 17th. The shares were bought at an average price of $0.12 per share, for a total transaction of $18,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Buying: Independent Bank Group Inc (IBTX) Director Acquires 25,000 Shares of Stock (FairFieldCurrent.com)
Independent Bank Group Inc (NASDAQ:IBTX) Director G Stacy Smith acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were bought at an average cost of $65.90 per share, for a total transaction of $1,647,500.00. Following the acquisition, the director now owns 89,974 shares of the company’s stock, valued at approximately $5,929,286.60. The purchase was disclosed in a filing with the Securities & Exchange Commission.
