Buffett Accumulates More of Occidental Petroleum. What does Wall Street Say? (TipRanks)
Legendary investor Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) continues to ramp up its stake in oil and gas giant Occidental Petroleum (NYSE: OXY). As per TipRanks Insider Trading Tool, in an SEC filing, Berkshire disclosed its purchase of over 1.94 million additional shares of Occidental in multiple transactions between July 14 and July 16. These transactions were made at prices ranging from $56.1425 to $59.6733, for an aggregate price of $112.1 million. While the Oracle of Omaha is clearly betting on the oil major, Wall Street analysts seem to be cautiously optimistic on Occidental stock.
Genesis Lent $2.4 Billion to Hedge Fund Three Arrows Capital (The Wall Street Journal)
Digital Currency Group Inc., the cryptocurrency conglomerate that owns Genesis Global Trading Inc., is the biggest creditor of the beleaguered hedge fund Three Arrows Capital Ltd., according to court documents compiled by Three Arrows’s liquidator. DCG’s Genesis Asia Pacific Ltd. lent Three Arrows $2.4 billion, the court document said. The hedge fund put down the equivalent of $1.2 billion in crypto and other collateral as of last month.
Scaramucci Halts Withdrawals in a Fund After Stock, Crypto Swoon (Bloomberg)
Anthony Scaramucci’s Skybridge Capital suspended redemptions in one of its funds after sharp declines in stocks and cryptocurrencies, according to people familiar with the decision. The Legion Strategies fund suspended redemptions because private companies, which are harder to sell, now make up about 20% of the portfolio, one of the people said. The fund is one of Skybridge’s smaller offerings, farming out most of its roughly $230 million of assets to hedge fund managers.
Tuesday 7/19 Insider Buying Report: ET, CMTL (Nasdaq.com)
At Energy Transfer, a filing with the SEC revealed that on Friday, Director Richard D. Brannon bought 137,680 shares of ET, for a cost of $9.69 each, for a total investment of $1.33M. So far Brannon is in the green, up about 5.9% on their buy based on today’s trading high of $10.27. Energy Transfer is trading up about 1.4% on the day Tuesday. Before this latest buy, Brannon purchased ET on 2 other occasions during the past year, for a total investment of $632,465 at an average of $9.23 per share. And at Comtech Telecommunications , there was insider buying on Monday, by Chief Financial Officer Michael Bondi who bought 4,000 shares at a cost of $9.33 each, for a total investment of $37,320.
$1.7 Million Bet On This Biotechnology Stock? 3 Penny Stocks Insiders Are Buying (Benzinga)
BitNile: The Trade: BitNile Holdings, Inc. (NILE) Executive Chairman Milton C. Ault III acquired a total of 150,000 shares at an average price of $0.33. To acquire these shares, it cost around $49.01 thousand. ESSA Pharma: The Trade: ESSA Pharma Inc. (EPIX) 10% owner BB Biotech AG acquired a total of 588,869 shares at an average price of $2.93. The insider spent around $1.73 million to buy those shares.
