When This Hedge Fund Buys Local Newspapers, Democracy Suffers (WXXI News)
Have you heard of the hedge fund Alden Global Capital? If you’re a reader of local newspapers — particularly the Chicago Tribune, The Baltimore Sun or New York Daily News — you’re going to want to make sure the answer is yes. That’s because the fund is stepping in to buy — and then gut — newsrooms across the country. And that has consequences for democracy, as journalist McKay Coppins writes in The Atlantic. Below are highlights from his conversation with Morning Edition’s A Martínez.
Opalesque Roundup: Hedge Funds 2021 Momentum Halts, Slides in September: Hedge Fund News, Week 41 (Opalesque)
In the week ending October 15th 2021, eVestment released their September 2021 hedge fund performance figures. Aggregate performance for the global hedge fund business dipped into negative territory in September, at -0.55%. This is only the second month this year the industry posted negative aggregate returns and just under 40% of funds eVestment tracks posted positive returns last month, the lowest level since September of last year. Year to date (YTD) hedge fund industry performance stands at +8.85%.
Notable Apollo Global Management Insider Trades $12M In Company Stock (Benzinga)
Joshua Harris, Director at Apollo Global Management (NYSE:APO), made a large buy and sell of company shares on October 15, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Joshua Harris exercised options to purchase 192,246 Apollo Global Management shares for $0 on October 15. They then sold their shares on multiple transactions in the open market. They sold at prices ranging from $65.95 to $68.13 to raise a total of $12,902,312 from the stock sale.
The Senior Officer of Hill Street Beverage Co (Other OTC: HSEEF) is Buying Shares (Analyst Ratings)
Today, the Senior Officer of Hill Street Beverage Co (HSEEF), Rudy Sawatzky, bought shares of HSEEF for $350K. Following this transaction Rudy Sawatzky’s holding in the company was increased by 32% to a total of $1.76 million. Based on Hill Street Beverage Co’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $655.3K and GAAP net loss of -$660,387. In comparison, last year the company earned revenue of $388.5K and had a GAAP net loss of $796.4K. Currently, Hill Street Beverage Co has an average volume of 70. HSEEF’s market cap is $9.34 million and the company has a P/E ratio of -2.00.
C3.ai Inc (AI) CEO Thomas M Siebel Sold $22.4 million of Shares (Guru Focus)
CEO of C3.ai Inc, Thomas M Siebel, sold 484,149 shares of AI on 10/15/2021 at an average price of $46.17 a share. The total sale was $22.4 million.
SEC Awards $40 Million to Two Whistleblowers (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower, whose information caused the opening of the investigation and exposed difficult-to-detect violations, will receive an award of approximately $32 million. The first whistleblower also provided substantial assistance to the staff, including identifying witnesses and helping the staff to understand complex fact patterns. The second whistleblower, who submitted important new information during the course of the investigation but waited several years to report to the Commission, will receive an award of approximately $8 million.
