Luigi Conti Joins Axyon AI Board (Hedge Week)
Axyon AI, an AI provider for the asset management industry, has appointed Luigi Conti as an independent board member. Axyon AI provides deep learning solutions that help asset managers deliver more efficient and innovative investment products. The company, which includes UniCredit and ING Bank among its investors, operates in close partnership with the renowned AI and computer sciences faculty at the University of Modena and Reggio Emilia.
Jana Applies Pressure for Vonage to Sell (Barron’s)
Jana Partners is putting pressure on Vonage Holdings, telling the cloud-based telecom company that it should consider a full or partial sale. The activist hedge fund began buying Vonage stock (ticker: VG) in the first quarter of the year, according to quarterly regulatory filings, and now holds roughly 4% of the shares. Vonage rallied for much of the year, then fell in mid-August after a Morgan Stanley analyst cut his rating.
Confessions of a Hedge Fund Partner in 5 inch Stilettos (eFinancialCareers)
It’s not easy being a woman in hedge funds. As Dominique Mielle, a former partner at Canyon Capital, a fund with $25bn in AUM observes, most of the women who are said to be in the industry aren’t actually working for hedge funds at all – they’re bankers, accountants or lawyers on the periphery. And if they are in the industry, they typically occupy “soft” functions, like marketing or investor relations. Mielle wasn’t that kind of woman in hedge funds. She retired in 2018, but during her 20-year career she was always an investor and became a senior portfolio manager and a partner in a distressed bond fund.
Friday 9/3 Insider Buying Report: REE, DSGN (Nasdaq.com)
At Ree Automotive, a filing with the SEC revealed that on Thursday, Director Hans Thomas bought 222,000 shares of REE, for a cost of $5.77 each, for a total investment of $1.28M. Ree Automotive is trading up about 2.4% on the day Friday. And at Design Therapeutics, there was insider buying on Tuesday, by Director Arsani William who purchased 40,000 shares for a cost of $15.45 each, for a trade totaling $618,000. Before this latest buy, William made one other buy in the past twelve months, purchasing $14M shares at a cost of $20.00 each. Design Therapeutics is trading up about 4.8% on the day Friday. William was up about 23.0% on the buy at the high point of today’s trading session, with DSGN trading as high as $19.00 at last check today.
The EC of Xcel Energy (NASDAQ: XEL) is Selling Shares (Analyst Ratings)
Yesterday, the EC of Xcel Energy (XEL), Benjamin Fowke, sold shares of XEL for $3.79M. Following Benjamin Fowke’s last XEL Sell transaction on June 08, 2021, the stock climbed by 2.0%. In addition to Benjamin Fowke, one other XEL executive reported Sell trades in the last month. Based on Xcel Energy’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.07 billion and quarterly net profit of $311 million. In comparison, last year the company earned revenue of $2.59 billion and had a net profit of $287 million. The company has a one-year high of $76.44 and a one-year low of $57.23. XEL’s market cap is $37.86 billion and the company has a P/E ratio of 23.80.
