2 Picks from Expert Hedge Fund Manager Edgar Wachenheim’s Chest (Nasdaq.com)
Today, in our “Expert Spotlight,” we will look at Edgar Wachenheim, the founder, CEO, and Chairman of Greenhaven Associates. Greenhaven is a long-term, long-only value investment management firm with $4.63 billion in assets under management (AUM). We will look at two of Wachenheim’s top picks for 2022 – global financial services behemoth Goldman Sachs Group (GS) and homebuilder company Lennar Corp. (LEN). Global markets are witnessing unprecedented events. At such times, it is prudent to follow the views of experts who are in a better position to gauge the markets and the company’s performance. Notably, TipRanks aggregates the recommendations of several top experts, which can be considered while making investment choices to maximize returns.
Is Billionaire David Shaw Losing Faith in Tesla (TSLA) Stock? (InvestorPlace)
Tesla (NASDAQ:TSLA) stock is in focus after David Shaw’s D.E. Shaw & Company reported selling 30% of its stake during Q2. The acclaimed hedge fund manages over $128 billion in assets, of which $85.3 million is attributed to 13F securities. Shaw has now trimmed his stake in TSLA stock for four consecutive quarters. He first purchased shares of the electric vehicle (EV) company during Q4 of 2019 and holds each stock in his portfolio for an average of 12.88 quarters. Back in 2019, shares of Tesla traded for less than $100, accounting for stock splits.
Jim Simons’ Firm Enters Microsoft Position, Boosts Berkshire and Chevron (Guru Focus)
Renaissance Technologies, the hedge fund founded by Jim Simons disclosed in a regulatory filing that its top trades during the second quarter included new positions in Microsoft Corp. (MSFT) and Shopify Inc. (SHOP), boosts to its holdings of Berkshire Hathaway Inc. (BRK.B) and Chevron Corp. (CVX), a reduction to its stake in Tesla Inc. (TSLA) and the closure of its positions in Amazon.com Inc. (AMZN) and Alphabet Inc. (GOOGL). The New York-based firm applies complex mathematical models to analyze and execute trades, most of them automated. Renaissance predicts price changes using computer-based models that first gather as much data as possible and then look for non-random movements.
Friday 8/19 Insider Buying Report: TCBI, RM (Nasdaq.com)
On Wednesday, Texas Capital Bancshares (TCBI)’s Director, Robert W. Stallings, made a $1.23M buy of TCBI, purchasing 19,000 shares at a cost of $64.79 a piece. Texas Capital Bancshares is trading off about 1.2% on the day Friday. Before this latest buy, Stallings bought TCBI on 7 other occasions during the past year, for a total investment of $6.79M at an average of $57.38 per share. And also on Wednesday, Director Philip V. Bancroft bought $508,768 worth of Regional Management Corp (RM), buying 13,000 shares at a cost of $39.14 each. Regional Management Corp is trading down about 0.6% on the day Friday. Bargain hunters have the opportunity to buy RM even cheaper than Bancroft did, with shares changing hands as low as $38.51 at last check today which is 1.6% below Bancroft’s purchase price.
$3.9 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying (Benzinga)
Rubicon Technologies: The Trade: Rubicon Technologies, Inc. (RBT) 10% owner Atalaya Capital Management LP acquired a total 381,781 shares at an average price of $10.15. To acquire these shares, it cost around $3.88 million.
Insiders Selling Bed Bath & Beyond And 3 Other Stocks (Business Insider)
Snap: The Trade: Snap Inc. (NYSE: SNAP) Chief Business Officer Jeremi Gorman sold a total of 34,986 shares at an average price of $12.28. The insider received around $429.61 thousand from selling those shares. Bed Bath & Beyond: The Trade: Bed Bath & Beyond Inc. (NASDAQ: BBBY) EVP, CFO Gustavo Arnal sold a total of 55,013 shares at an average price of $25.52. The insider received around $1.4 million as a result of the transaction. Dell Technologies: The Trade: Dell Technologies Inc. (NYSE: DELL) Co-Chief Operating Officer Charles Anthony Whitten sold a total of 177,747 shares at an average price of $47.93. The insider received around $8.52 million from selling those shares.
