Land & Buildings Spots a Chance to Build Value in a Real Estate Play with Six Flags (CNBC)
Company: Six Flags Entertainment (SIX): Business: Six Flags is the largest regional theme park operator in the world and the largest operator of water parks in North America. They generate revenue primarily from selling admission to their parks and from the sale of food, beverages, merchandise and other products and services within the parks. Stock Market Value: $1.9B ($23.25 per share). Activist: Land & Buildings Investment Management. Percentage Ownership: about 3.0%. Average Cost: n/a. Activist Commentary: Land & Buildings is a real estate focused long-short hedge fund that will try to engage with management on a friendly basis when it sees deep value.
Acacia Says It is Probing Former CEO’s ‘Apparent Misconduct’ (Reuters)
(Reuters) – Acacia Research, the acquisition platform backed by activist hedge fund Starboard Value, said on Friday it had been conducting an internal investigation into the “apparent misconduct” of former chief executive officer Clifford Press. The company said its preliminary findings showed that Press appeared to have misused corporate funds for personal use and for making charitable donations in his own name.
$915M Bet On This EV Maker Stock? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Lucid Group: The Trade: Lucid Group, Inc. (LCID) 10% owner Ayar Third Investment Co acquired a total of 85,712,679 shares an average price of $10.68. To acquire these shares, it cost around $915 million. Dave & Buster’s Entertainment: The Trade: Dave & Buster’s Entertainment, Inc. (PLAY) 10% owner Scott Ross acquired a total of 410,202 shares at an average price of $34.74. To acquire these shares, it cost around $14.25 million.
Thursday 12/29 Insider Buying Report: CET, TPL (Nasdaq.com)
At Central Securities, a filing with the SEC revealed that on Wednesday, Vice President Andrew J. O’neill bought 2,396 shares of CET, at a cost of $33.21 each, for a total investment of $79,571. Central Securities is trading up about 1.4% on the day Thursday. And also on Wednesday, Director Murray Stahl purchased $50,602 worth of Texas Pacific Land, purchasing 21 shares at a cost of $2409.62 a piece. Before this latest buy, Stahl purchased TPL at 248 other times during the past year, for a total investment of $7.89M at an average of $1653.75 per share. Texas Pacific Land is trading off about 0.4% on the day Thursday. Bargain hunters can pick up TPL even cheaper than Stahl did, with the stock changing hands as low as $2332.00 in trading on Thursday which is 3.2% below Stahl’s purchase price.
Sebi Dismisses Insider Trading Charges Against 11 Entities in WhatsApp Leak Case (LiveMint)
The market regulator Sebi on Monday abandoned insider trading allegations against 11 organisations for allegedly using WhatsApp to disseminate confidential information regarding Axis Bank’s financial performance. The market regulator Sebi on Monday abandoned insider trading allegations against 11 organisations for allegedly using WhatsApp to disseminate confidential information regarding Axis Bank’s financial performance.
