Activist Investor Litt Renews Call for Saks Fifth Avenue Sale (Reuters)
Nov 28 (Reuters) – Activist investor Jonathan Litt on Wednesday renewed call for the sale of the Saks Fifth Avenue brand, while asking owner Hudson’s Bay Co to make new board appointments, saying the company’s shares were undervalued. Litt, the founder of hedge fund Land & Buildings Investment Management LLC, has criticized the Canadian department store owner in the past for underperformance and mismanagement.
Mike Novogratz’s Crypto Trading Desk Lost $136 Million in Nine Months (Bloomberg)
The bad year for traders at Mike Novogratz’s cryptocurrency merchant bank got even worse in the third quarter — and that was before the market fell out of bed this month. Net realized and unrealized losses on digital assets at Galaxy Digital Holdings LP’s trading operation totaled about $41 million in the third quarter, bringing losses for the first nine months of the year to $136 million, according to company filings this week. The latest hit was caused in large part by losing bets on Ether, Bitcoin and XRP, Galaxy Digital said.
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Sears Wins OK for Junior DIP Loan Provided by Cyrus Capital (The Wall Street Journal)
Sears Wins OK for Junior DIP Loan Provided by Cyrus Capital Sears Holdings Corp. won approval to tap a $350 million junior DIP loan from Cyrus Capital. Sears, in an eleventh-hour maneuver, chose the financing over a rival package from Great American Capital.
Hedge Funds Got What they Wanted, to Their Cost (Bloomberg)
(Bloomberg Opinion) — This is turning out to be a year most hedge fund managers would prefer to forget, with the asset class on track for its worst performance in seven years. And if it fails to prove its mettle in what should be more favorable market conditions next year, the industry may lose any remaining credibility for its claim to deliver sufficient alpha in any market weather to justify its out-sized fees. As the most animated members of the active management crowd, hedge funds should thrive when market volatility awakens. And in October, volatility jumped in the investment world’s three main asset classes.
Insider Buying: Checkpoint Therapeutics Inc (NASDAQ:CKPT) Director Buys 100,000 Shares of Stock (FairFieldCurrent.com)
Checkpoint Therapeutics Inc (NASDAQ:CKPT) Director Lindsay A. Md Rosenwald bought 100,000 shares of the firm’s stock in a transaction on Friday, November 9th. The shares were acquired at an average cost of $2.29 per share, with a total value of $229,000.00. The acquisition was disclosed in a filing with the SEC.
Insider Buying: The Medicines Company (NASDAQ:MDCO) EVP Buys 50,300 Shares of Stock (MareaInformativa.com)
The Medicines Company (NASDAQ:MDCO) EVP Christopher T. Cox acquired 50,300 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was bought at an average cost of $19.73 per share, for a total transaction of $992,419.00. Following the purchase, the executive vice president now directly owns 60,308 shares of the company’s stock, valued at $1,189,876.84. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Koppers Holdings Inc. (KOP) VP Purchases 50,000 Shares of Stock (PressOracle.com)
Koppers Holdings Inc. (NYSE:KOP) VP R. Michael Johnson acquired 50,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average cost of $20.16 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the vice president now owns 96,534 shares in the company, valued at approximately $1,946,125.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Insider Buying: Great Elm Capital Corp (GECC) Insider Purchases 61,500 Shares of Stock (MareaInformativa.com)
Great Elm Capital Corp (NASDAQ:GECC) insider Peter A. Reed purchased 61,500 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average cost of $8.08 per share, for a total transaction of $496,920.00. The purchase was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: Esperion Therapeutics Inc (NASDAQ:ESPR) Major Shareholder Sells $5,638,000.00 in Stock (FairFieldCurrent.com)
Esperion Therapeutics Inc (NASDAQ:ESPR) major shareholder Boxer Capital, Llc sold 100,000 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $56.38, for a total value of $5,638,000.00. The transaction was disclosed in a document filed with the SEC.
