Hybrids in Tough Real Estate Market (Hedge Nordic)
HedgeNordic (Stockholm) – Swedish real estate companies have been active issuers of hybrids – notes subordinate to senior debt with both equity and debt characteristics. Regarded as partly equity by credit rating agencies, hybrids help issuers improve credit ratings and hence, reduce the cost of funding. The “real estate hybrids” space has experienced a tumultuous period since higher interest rates started eroding profitability and limiting options for debt refinancing.
Glenview Posts Mixed Results in 2022 (Institutional Investor)
One of the firm’s main funds made money, while the other lost less than half what the S&P 500 did. All things considered, 2022 wasn’t a bad year for Glenview Capital Management. Granted, the hedge fund firm headed by Larry Robbins suffered a 3.1 percent loss in December in its flagship Glenview Capital Partners fund, reducing its fourth-quarter gain to 4.1 percent, according to…
Binance Under Scrutiny as Prosecutors Probe Hedge Fund Connection (Investing.com)
The U.S. attorney’s office for the Western District of Washington has reportedly sent subpoenas to investment companies demanding documents of their conversations with Binance over the past several months. As reported by the Washington Post, Federal officials are still considering a potential settlement with Binance and analyzing whether the information they have is adequate to file charges. The subpoenas do not necessarily indicate that authorities will seek charges against Binance or its founder and CEO Changpeng Zhao aka CZ.
Hedge Funds Boost Dollar Shorts on Bets for Slower Fed Hikes (Bloomberg)
Hedge funds are growing ever more bearish on the dollar, underscoring speculation the Federal Reserve will slow the pace of its interest-rate hikes. Bets against the greenback swelled to 30,457 contracts last week, the most since August 2021, according to data from the Commodity Futures Trading Commission on eight currency pairs. Swap contracts show investors now expect the Fed funds effective rate to peak below 5%, down from 5.06% after data on Friday showed US wage growth cooled last month.
Monday 1/9 Insider Buying Report: COIN, VIR (Nasdaq.com)
At Coinbase Global, a filing with the SEC revealed that on Wednesday, Director Tobias Lutke purchased 11,012 shares of COIN, for a cost of $34.62 each, for a total investment of $381,235. Lutke was up about 9.6% on the purchase at the high point of today’s trading session, with COIN trading as high as $37.93 in trading on Monday. Coinbase Global is trading up about 13.1% on the day Monday. Before this latest buy, Lutke bought COIN on 20 other occasions during the past twelve months, for a total investment of $7.85M at an average of $57.04 per share. And also on Wednesday, Director Charles Elliott Sigal bought $127,129 worth of Vir Biotechnology, buying 5,000 shares at a cost of $25.43 a piece. Vir Biotechnology is trading off about 1.5% on the day Monday. Sigal was up about 3.8% on the purchase at the high point of today’s trading session, with VIR trading as high as $26.38 at last check today.
Insiders Selling Qualcomm, Skechers And 2 Other Stocks (Benzinga)
HP: The Trade: HP Inc. (HPQ) President and CEO Enrique Lores sold a total of 34,000 shares at an average price of $27.13. The insider received around $922.42 thousand from selling those shares. Skechers U.S.A.: The Trade: Skechers U.S.A., Inc. (SKX) President Michael Greenberg sold a total of 20,833 shares at an average price of $42.12. The insider received around $877.52 thousand as a result of the transaction.
