Glenview Suffers an August Setback (Institutional Investor)
Larry Robbins’ Glenview Capital Management posted losses in its three main funds in August. However, the losses were much smaller than those suffered by the major market indices, which lost between 4 percent and 5 percent for the month. Glenview Capital Partners, the firm’s flagship, lost 2.9 percent in August…
Archer Capital Management Group, the Archer Growth Fund and Related Entities Charged with Defrauding Investors (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Archer Capital Management Group, the Archer Growth Fund, and two related entities, HDR Management LLC and Silvermoon Group LLC, with operating a fraudulent scheme from December 2019 through December 2020 that raised approximately $2.6 million from at least 20 investors by using misrepresentations disseminated via Archer Capital’s website and other internet outlets. The SEC alleges that the defendants acted through unidentified agents using fraudulent identities to engage in an internet offering fraud.
Friday 9/2 Insider Buying Report: SEAS, WEST (Nasdaq.com)
At SeaWorld Entertainment, a filing with the SEC revealed that on Tuesday, See Remarks Michelle F. Adams bought 39,000 shares of SEAS, for a cost of $51.03 each, for a total investment of $1.99M. SeaWorld Entertainment is trading up about 3.1% on the day Friday. And at Westrock Coffee, there was insider buying on Tuesday, by Director Joe T. Ford who bought 107,000 shares at a cost of $12.15 each, for a trade totaling $1.30M. This buy marks the first one filed by Ford in the past year. Westrock Coffee is trading up about 0.5% on the day Friday. Investors are able to bag WEST even cheaper than Ford did, with the stock trading as low as $10.87 at last check today — that’s 10.5% under Ford’s purchase price.
President and CEO Of Lancaster Colony Makes $2.47M Sale (Benzinga)
David Alan Ciesinski, President and CEO at Lancaster Colony (LANC), reported a large insider sell on August 31, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Ciesinski sold 14,431 shares of Lancaster Colony. The total transaction amounted to $2,467,955. Lancaster Colony shares are trading down 1.61% at $165.83 at the time of this writing on Thursday morning.
Hedge Fund Trends Show Tilt Back to Growth (Guru Focus)
The weak performance of most hedge funds compared to the S&P 500 has been no secret, and data on the most popular hedge fund positions based on 13F data has shown why. Most hedge funds’ favorite stocks have been underperforming, causing fund managers to generate lower returns versus the general market. As a result, investors who followed the so-called “smart money” may have seen their stocks plummet. Although a two-month relief rally suggested that hedge fund favorites would make a comeback, returning to their typical position of outperformance, the last two weeks of August have brought another reversal.
