Credit Suisse Gave Archegos Big Leverage for Collateral (Bloomberg)
Credit Suisse Group AG’s business with Archegos Capital Management enabled the family office to undertake highly-leveraged stock bets with only minimal collateral posted, a strategy that exposed the lender to losses far exceeding its peers when the firm collapsed. Credit Suisse lent the family office of Bill Hwang funds allowing bets with leverage of up to ten times, and only asked for collateral worth 10% of the sums borrowed, according to a person familiar with the business.
Consultant and Board Member Charged with Insider Trading (HedgeCo.net)
(HedgeCo.Net) The U.S. District Court for the District of Massachusetts has Entered a Partial Judgment in a Previously-Filed SEC Case Charging Oregon Resident Mark Ahn with Engaging in Insider Trading in the Securities of a Massachusetts-Based Pharmaceutical Company, Dimension Therapeutics, Inc., in Advance of an August 2017 Merger Announcement. The SEC’s complaint, filed on February 5, 2021, charged Ahn with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Ahn consented to the partial judgment entered by the court, which enjoins him from violating the above statutes and bars him from serving as an officer or director of any SEC reporting company. Any civil penalty in the SEC matter will be determined by the court at a later date.
Monday 5/3 Insider Buying Report: CSTR, PQG (Nasdaq.com)
On Wednesday, CapStar Financial Holdings’s Chief Financial Officer, Denis J. Duncan, made a $379,600 buy of CSTR, purchasing 20,000 shares at a cost of $18.98 each. Duncan was up about 4.0% on the buy at the high point of today’s trading session, with CSTR trading as high as $19.73 in trading on Monday. CapStar Financial Holdings is trading up about 2.1% on the day Monday. Before this latest buy, Duncan purchased CSTR at 2 other times during the past twelve months, for a total investment of $300,427 at an average of $12.11 per share. And on Thursday, Director Kyle D. Vann purchased $140,050 worth of PQ Group Holdings, purchasing 10,000 shares at a cost of $14.01 each. PQ Group Holdings is trading up about 1.8% on the day Monday. Vann was up about 2.9% on the buy at the high point of today’s trading session, with PQG trading as high as $14.41 in trading on Monday.
Insider Trading: May 3, 2021 (BIV.com)
Insider Elaine Sanders, director. Company: Alexco Resources Corp. (TSX:AXU). Shares owned: 215,239. Trade date: Apr 20, 21. Trade total: $513,335. Trade: Sale of 150,000 shares at prices from $3.39 to $3.44 per share. Insider Clayton Donald Allan, Director. Company: Cielo Waste Solutions Corp. (CNSX:CMC). Shares owned: 23,343,322. Trade date: Apr 16. Trade total: $280,500. Trade: Sale of 300,000 shares at prices from $0.93 to $0.94 per share.
Last Week’s Notable Insider Buys: Beacon Roofing, Chipotle, IPOs, Latham And More (Benzinga)
The combined 3.52 million or so Impel Neuropharma Inc (IMPL) shares that five beneficial owners purchased had an initial public offering price of $15.00 per share. These transactions cost them more than $52.87 million. The stock has traded as high as $15.89 a share since the offering but ended the week at $15.20. Rain Therapeutics Inc (RAIN) 0.49% saw two beneficial owners and a former 10% owner buy into the IPO. The more than 2.02 million shares of this oncology company acquired altogether, at $17.00 apiece, added up to over $34.42 million. The stock ended the week trading at $16.37 per share.
A Director at PotlatchDeltic (NASDAQ: PCH) is Selling Shares (Analyst Ratings)
Yesterday, a Director at PotlatchDeltic (PCH), Michael Covey, sold shares of PCH for $4.79M. Following Michael Covey’s last PCH Sell transaction on March 08, 2018, the stock climbed by 17.6%. In addition to Michael Covey, 2 other PCH executives reported Sell trades in the last month. Based on PotlatchDeltic’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $354 million and quarterly net profit of $131 million.
First Horizon Corp (FHN) President and CEO D Bryan Jordan Sold $4.3 million of Shares (Guru Focus)
President and CEO of First Horizon Corp, D Bryan Jordan, sold 230,642 shares of FHN on 04/29/2021 at an average price of $18.56 a share. The total sale was $4.3 million.
