Hedge Fund Pushes for Share Buyback at Gulfport to Boost Stock Price (Reuters)
BOSTON (Reuters) – Firefly Value Partners said on Thursday that it wants Gulfport Energy Corp. to buy back $500 million worth of shares, an action the hedge fund argues could help double the stock price of the natural gas and oil company. The New York-based hedge fund, in a public letter, criticized how Oklahoma City-based Gulfport, which has a market capitalization of $1.5 billion, has allocated capital and complained that current board members may not be committed to pushing for improvements.
Sears Announces Lampert’s Hedge Fund, ESL, as Winning Bid in Bankruptcy Court Auction (CNBC)
Sears said Thursday that Chairman Eddie Lampert’s hedge fund, ESL Investments, is the winning bidder in the company’s bankruptcy auction, keeping the company alive. “We are pleased to have reached a deal that would provide a path for Sears to emerge from the Chapter 11 process,” the board’s restructuring committee said in a press release. Subject to court approval, ESL will acquire substantially all of Sears’ remaining assets, which includes 425 stores, for about $5.2 billion. Sears’ other brands include its Home Services business and Kenmore and DieHard brands.
Pressmaster/Shutterstock.com
Hedge Fund Investor: ‘Stupidity Is Not Cyclical’ (TheStreet)
Some sectors of the economy are cyclical and some remain steady through peaks, valleys and troughs. But there’s one constant in financial markets, especially large and highly liquid ones like the stock market: stupidity. “We have a saying in our place, which is that stupidity is not cyclical,” said Keith Rosenbloom, Managing Member of Cruiser Capital, a New York based hedge fund.
Jeffrey Vinik Thinks He Can Beat the Stock-Picking Bots (Bloomberg)
Stock pickers are striking back. Jeffrey Vinik, who rose to fame as manager of the Fidelity Magellan Fund in the 1990s, told CNBC last week that he was getting back into the stock-picking game. He will resurrect Vinik Asset Management, a hedge fund he closed in 2013.
Insider Buying: Abraxas Petroleum Corp. (NASDAQ:AXAS) CEO Buys 174,652 Shares of Stock (FairFieldCurrent.com)
Abraxas Petroleum Corp. (NASDAQ:AXAS) CEO Robert L. G. Watson purchased 174,652 shares of the company’s stock in a transaction on Monday, December 31st. The shares were purchased at an average cost of $1.14 per share, with a total value of $199,103.28. The acquisition was disclosed in a legal filing with the SEC.
Insider Selling: Veritone Inc (VERI) Major Shareholder Sells $1,302,500.00 in Stock (MareaInformativa.com)
Veritone Inc (NASDAQ:VERI) major shareholder Research Corp Acacia sold 250,000 shares of the stock in a transaction dated Thursday, January 10th. The stock was sold at an average price of $5.21, for a total value of $1,302,500.00. Following the sale, the insider now owns 1,169,520 shares of the company’s stock, valued at $6,093,199.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Buying: Intersections Inc. (NASDAQ:INTX) Major Shareholder Buys 13,435,388 Shares of Stock (PressOracle.com)
Intersections Inc. (NASDAQ:INTX) major shareholder Wc Sacd One Parent, Inc. acquired 13,435,388 shares of Intersections stock in a transaction that occurred on Monday, January 7th. The stock was acquired at an average cost of $3.68 per share, with a total value of $49,442,227.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Insider Selling: MedEquities Realty Trust Inc (MRT) Director Sells 255,000 Shares of Stock (WeekHerald.com)
MedEquities Realty Trust Inc (NYSE:MRT) Director Bluemountain Capital Managemen sold 255,000 shares of the firm’s stock in a transaction dated Friday, January 11th. The shares were sold at an average price of $10.56, for a total transaction of $2,692,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Insider Buying: Retractable Technologies, Inc. (RVP) Insider Buys 75,000 Shares of Stock (FairFieldCurrent.com)
Retractable Technologies, Inc. (NYSEAMERICAN:RVP) insider Thomas J. Shaw purchased 75,000 shares of the business’s stock in a transaction on Monday, December 31st. The shares were purchased at an average price of $0.59 per share, with a total value of $44,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission.
