Hedge Fund Anchorage to Place Key Order in Casino Debt Refinancing (Bloomberg)
Anchorage Capital Group is throwing its weight behind Casino Guichard-Perrachon SA as the French retailer seeks to bolster its finances with a 3.5 billion-euros ($3.9 billion) refinancing plan. The New York-based hedge fund placed one of the largest orders for the 750 million euro loan portion of Casino’s refinancing package set to price this week, according to three people familiar with the transaction, who asked not to be named because the matter is private. The supermarket chain received commitments for about half of the total loan amount shortly after the launch last month, the people said.
Elliott Says Chemical Company Owners Overcharged for Debt (The Wall Street Journal)
Hedge-fund manager Elliott Management Corp. is accusing Black Diamond Capital Management LLC, Brightwood Capital Advisors LLC and BlackRock Inc. of gouging specialty chemicals maker Vertellus Holdings LLC with high-interest debt after they took control of the company through a bankruptcy. Elliott sued the board of Vertellus and the three investment firms in the New York Supreme Court on Oct. 30, saying they prevented the chemical manufacturer from taking advantage of a favorable debt refinancing proposed by Elliot and credit.
‘I Care’ – Billionaire Investor Tears Up Talking About America, Elizabeth Warren and Donald Trump (CNBC)
“I care,” the hedge fund manager answered while tearing up when asked why he has been so vocal about the 2020 election. Cooperman’s response came in the midst of a political battle between the longtime investor and presidential hopeful Elizabeth Warren. “I don’t need Elizabeth Warren telling me that I’m a deadbeat and that billionaires are deadbeats. The vilification of billionaires makes no sense to me,” he said. Billionaire investor Leon Cooperman teared up on Monday as he discussed the political divide in the U.S. and his concerns about the American dream.
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Sachem Head to Push For Sale of Education Company 2U (Bloomberg)
Activist investor Sachem Head Capital Management LP has built a position in education software provider 2U Inc. and plans to push the company to explore strategic alternatives, including a sale, according to people familiar with the matter. The New York hedge fund, run by Scott Ferguson, is now one of the 2U’s top shareholders, the people said, asking not to be identified because the matter is private. The exact size of Sachem Head’s stake could not be learned.
Real Assets, Real Growth in Australia: A Preqin & Perpetual Study (Preqin.com)
Investors across real assets (comprising real estate, infrastructure and natural resources) are finding attractive deals in Australia’s key markets, which offer all the right conditions for investment in today’s low interest rate environment. With one of the largest pools of alternative assets under management, Australia is widely seen as a global leader in infrastructure and is recognized for its expertise in financial advisory services.
Here’s What Hedge Funds Should Really Be Worried About (Institutional Investor)
Staring down a ten-year-old bull market, institutional investors are increasing their allocations to alternatives to help steady their portfolios. But instead of investing in hedge funds, private equity, and other private market assets, they’re buying lower-cost exchange-traded funds that seek to provide similar returns through rules-based strategies, new research shows.
Hedge Funds Buy Oil in Anticipation of Short-covering Rally: Kemp (Reuters)
LONDON (Reuters) – Hedge funds have started to become more optimistic about the outlook for oil prices amid hopes that the United States and China will reach a trade truce and the global economy will avert recession in 2019/20. From a fundamental perspective, hedge funds are rebuilding long positions in crude and fuels because the news flow about the economy is no longer deteriorating, even if it is not yet improving much.
Mobileye Insider Trading Defendant to Sign Settlement With SEC (Calcalistech.com)
James Shaoul, a Jerusalem resident accused by the U.S. Securities and Exchange Commission of using insider information about the 2017 acquisition of Mobileye by Intel, is nearing a settlement, according to a recent court document filed in Israel and reviewed by Calcalist.
Zebra Technologies Corp (ZBRA) CEO Anders Gustafsson Sold $7.1 million of Shares (Guru Focus)
CEO of Zebra Technologies Corp., Anders Gustafsson, sold 30,000 shares of ZBRA on 11/01/2019 at an average price of $238.23 a share. The total sale was $7.1 million. Zebra Technologies Corp develops products for the automatic identification and data capture market. Its products find use in mobiles, computers, barcode scanners, RFID readers, specialty printers. Zebra Technologies Corp has a market cap of $13.3 billion; its shares were traded at around $246.64 with a P/E ratio of 27.44 and P/S ratio of 3.03.
SEBI Issues Clarifications On Insider Trading Regulations (Bloomberg Quint)
The Securities and Exchange Board of India has issued frequently asked questions to clarify on certain aspects of the SEBI (Prohibition of Insider Trading) Regulations, 2015, with respect to selling of employee stock options, trade in depository receipts of companies by employees who are foreign nationals and maintenance as well as retention of information relating to designated persons by a listed company. The FAQ aims to streamline existing ambiguities in interpretation of certain aspects of the insider trading regulations and provides clarity on aspects which the regulations are silent about.
Notable Insider Buys In The Past Week: FedEx, Kinder Morgan, Trinity Industries (Benzinga)
Trinity Industries: A Trinity Industries Inc (TRN) director stepped up to the buy window this past week. That director indirectly picked up 1.65 million shares of this transportation products and services company at $19.67 to $20.49 apiece. Those transactions totaled more than $32.91 million and brought the director’s stake to more than 24.1 million shares.
The EVP* of Chubb (NYSE: CB) is Selling Shares (Analyst Ratings)
Today, the EVP* of Chubb (CB), Timothy Alan Boroughs, sold shares of CB for $261.8K. Following Timothy Alan Boroughs’ last CB Sell transaction on June 10, 2019, the stock climbed by 2.2%. The company has a one-year high of $162.44 and a one-year low of $119.54. Currently, Chubb has an average volume of 540.45K. CB’s market cap is $68.56B and the company has a P/E ratio of 19.06.
Mohawk Industries Inc (MHK) Chairman and CEO Jeffrey S Lorberbaum Sold $1.5 million of Shares (Guru Focus)
Chairman and CEO of Mohawk Industries Inc., Jeffrey S Lorberbaum, sold 10,600 shares of MHK on 11/01/2019 at an average price of $142.64 a share. The total sale was $1.5 million. Mohawk Industries Inc is a flooring manufacturer that creates products to enhance residential and commercial spaces around the world. The company’s business segments are Global Ceramic, Flooring North America and Flooring Rest of the World.
