Newspaper Publisher Lee Enterprises Enacts Plan to Prevent Takeover by Cost-Cutting Hedge Fund Alden Global Capital (The Wrap)
Lee Enterprises Inc. — one of few sizeable American newspaper chains not owned by hedge fund Alden Global Capital LLC — has adopted a limited duration shareholder rights plan that would prevent Alden from acquiring more than 10% of the company, as Lee Enterprises considers Alden’s hostile bid for the company. The rights plan, also known as a ‘poison pill,’ is effective immediately and will remain effective for one year, expiring on Nov. 23, 2022, Lee Enterprises said in a statement Wednesday.
US Billionaire Pays $43M for Rare First Print of US Constitution (Big News Network)
New York City, New York: Chicago hedge fund manager Kenneth Griffin bought a rare first printing of the U.S. Constitution for $43.2 million, a record price for a document or book sold at auction. The auction was held at Sotheby’s in New York City. Late last week, Sotheby’s announced that the document will be loaned by Griffin to the Crystal Bridges Museum of American Art in Bentonville, Arkansas.
One in Four Hedge Fund Managers to Increase Crypto Exposure, Says EY Survey (Hedge Week)
More than on-in-four hedge fund managers are expecting to increase their exposure to cryptocurrencies in the next one to two years, according to the 2021 EY Global Alternative Fund Survey. This compares with 20 per cent of institutional investors who say they intend to increase their exposure to crypto-related assets. EY says that alternative fund managers have become more active participants in the sector, drawn by uncorrelated return profiles and continued investment in institutional-grade infrastructure to support this evolving asset class.
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Who Makes More Hedge Fund Or Private Equity? (ICTSD.org)
The compensation for hedge fund managers is more variable than that for private equity managers, but at the junior level, you’ll likely earn more. A star hedge fund PM who has a great year can easily earn more than an MD in private equity – depending on the fund’s size and structure. Can You Get Rich In Private Equity? Investing in private equity. The $1 million-per-year compensation hurdle is easily passed by private equity firm principals and partners, with many making tens of millions of dollars annually. A wealth-creation process is carried out by private equity. Do Hedge Funds Pay More Than Investment Banks? You will earn millions of dollars if you stick with investment banking. Hedge funds, on the other hand, pay much more. It is possible that you will earn a billion dollars.
Hedge Funds on Par with Private Equity (Hedge Nordic)
Stockholm (HedgeNordic) – Allocations to hedge funds reversed a multi-year downward trend, with allocations to hedge funds (28 percent) and private equity (27 percent) almost on par after the proportion of investors’ assets invested in private equity exceeded hedge fund allocations in 2020. According to Ernst & Young’s 2021 EY Global Alternative Fund Survey, allocations to hedge funds decreased from 40 percent in 2018 – which outpaced private equity by a two to one margin – to 33 percent in 2019 and 23 percent in 2020, but the allocation increased to 28 percent this year “reflecting improved perceptions of performance and their ability to take advantage of opportunities as they arise.”
Wednesday 11/24 Insider Buying Report: DPW, W (Nasdaq.com)
On Tuesday, Ault Global Holdings’ Executive Chairman, Milton C. Ault III, made a $5.02M buy of DPW, purchasing 2,610,000 shares at a cost of $1.92 each. Ault Global Holdings is trading up about 3.7% on the day Wednesday. Before this latest buy, Ault III bought DPW on 16 other occasions during the past twelve months, for a total cost of $7.06M at an average of $2.53 per share. And at Wayfair, there was insider buying on Monday, by Director Michael W. Choe who bought 10,000 shares for a cost of $258.98 each, for a trade totaling $2.59M. This buy marks the first one filed by Choe in the past twelve months. Wayfair is trading up about 8.1% on the day Wednesday. Choe was up about 9.7% on the buy at the high point of today’s trading session, with W trading as high as $284.14 at last check today.
The EC of Tenet Healthcare (NYSE: THC) is Selling Shares (Analyst Ratings)
Yesterday, the EC of Tenet Healthcare (THC), Ronald Rittenmeyer, sold shares of THC for $2.34M. Following Ronald Rittenmeyer’s last THC Sell transaction on November 19, 2021, the stock climbed by 1.1%. In addition to Ronald Rittenmeyer, one other THC executive reported Sell trades in the last month. Based on Tenet Healthcare’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $4.89 billion and quarterly net profit of $449 million.
Cloudflare Inc (NET) CFO Thomas J Seifert Sold $3.7 million of Shares (Guru Focus)
CFO of Cloudflare Inc, Thomas J Seifert, sold 20,000 shares of NET on 11/23/2021 at an average price of $183.68 a share. The total sale was $3.7 million.
Iliad Exec’s Insider-Trading Fine Upheld by French Top Court (Bloomberg Quint)
(Bloomberg) — Iliad SA Vice Chairman Maxime Lombardini lost his bid to have France’s top court overturn an insider-trading fine over his sale of shares before a surprise 2014 takeover bid for T-Mobile US Inc. The Cour de Cassation dismissed on Wednesday Lombardini’s challenge against the 800,000-euro ($895,000) fine he got last year, after the Paris court of appeal decided the 600,000-euro penalty he’d initially got wasn’t dissuasive enough.
A Director at InspireMD (NASDAQ: NSPR) is Buying Shares (Analyst Ratings)
Yesterday, a Director at InspireMD (NSPR), Paul Stuka, bought shares of NSPR for $72.01K. This recent transaction increases Paul Stuka’s holding in the company by 49.56% to a total of $224.6K. In addition to Paul Stuka, one other NSPR executive reported Buy trades in the last month. Based on InspireMD’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.07 million and GAAP net loss of -$4,071,000.
Medpace Holdings Inc (MEDP) CEO August J. Troendle Sold $16.3 million of Shares (Guru Focus)
CEO of Medpace Holdings Inc, August J. Troendle, sold 74,185 shares of MEDP on 11/23/2021 at an average price of $220.22 a share. The total sale was $16.3 million.
