Elliott Stake Complicates Rocket Internet’s Plan to Delist (Bloomberg)
Elliott Management Corp. has taken a 15.1% stake in Germany’s Rocket Internet SE in a potential challenge to the startup factory’s plan to delist its shares. Rocket’s founding Samwer brothers decided in September to take the company private after recent investments failed to match earlier successes such as Zalando, now one of Europe’s largest fashion retailers, and Lazada, a Southeast Asia-focused consumer electronics company.
Activist Hedge Fund Third Point Calls for Big Changes at Intel (CNBC)
Dan Loeb and Third Point are urging Intel to explore strategic alternatives via a letter that points to the company’s diminishing market share. CNBC’s “Squawk on the Street” crew discuss.
Wednesday 12/30 Insider Buying Report: SPLP, NSYS (Nasdaq.com)
On Tuesday, Steel Partners Holdings’s Director, Eric P. Karros, made a $198,850 purchase of SPLP, buying 21,695 shares at a cost of $9.17 each. So far Karros is in the green, up about 27.4% on their purchase based on today’s trading high of $11.68. Steel Partners Holdings is trading up about 20.8% on the day Wednesday. And at Nortech Systems, there was insider buying on Monday, by CFO Christopher Dean Jones who bought 14,636 shares at a cost of $6.23 each, for a total investment of $91,188. Before this latest buy, Jones made one other purchase in the past year, buying $11,513 shares at a cost of $5.66 each. Nortech Systems is trading up about 26.6% on the day Wednesday. Jones was up about 32.1% on the purchase at the high point of today’s trading session, with NSYS trading as high as $8.23 in trading on Wednesday.
Bandwidth Inc (BAND) Chairman & CEO David A. Morken Sold $14.8 million of Shares (Guru Focus)
Chairman & CEO of Bandwidth Inc, David A. Morken, sold 82,909 shares of BAND on 12/24/2020 at an average price of $178.63 a share. The total sale was $14.8 million. Bandwidth Inc provides a cloud-based communications platform for enterprises in the United States. It offers solutions including software application programming interfaces for voice and text functionality.
A Director at ChemoCentryx (NASDAQ: CCXI) is Selling Shares (Analyst Ratings)
Yesterday, a Director at ChemoCentryx (CCXI), Thomas A. Edwards, sold shares of CCXI for $1.53M. Following Thomas A. Edwards’ last CCXI Sell transaction on May 18, 2016, the stock climbed by 57.0%. The company has a one-year high of $65.43 and a one-year low of $30.72. CCXI’s market cap is $4.29 billion and the company has a P/E ratio of -89.00. Currently, ChemoCentryx has an average volume of 296.65K.
SEC Charges Long Island City Man with Trading and Tipping Others as Part of Insider Trading Scheme (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Jason Peltz of Long Island City, New York with insider trading ahead of a media report about the potential acquisition of chemical manufacturer Ferro Corp. that caused the company’s stock price to climb. Peltz also tipped others to trade ahead of the news, for a collective total profit of approximately $1 million. According to the SEC’s complaint, Peltz used inside information to trade Ferro securities before a March 15, 2016 news media article that Ferro had received a takeover approach from a prominent private equity firm. The complaint alleges that Peltz placed his trades using accounts held in the names of others, including the account of a British Virgin Islands company. Peltz further leveraged the inside information by tipping several associates who all traded Ferro within days of Peltz.
