The Value of ESG: Why Box-Checking the ‘S’ Isn’t Enough (Preqin)
We asked our network how companies are actively creating more diverse workplaces. With much rhetoric around diversity and inclusion in the alternatives investment industry, managers are showing positive signs of making these efforts official policy. But there’s still room for improvement. Code of conduct policies and formal initiatives around broadening firm diversity are common among mid- to large-sized alternatives managers, while female board representation is less so.
Hedge Funds could be Staging a Comeback as Short Bets Post Best Month Since 2010 (CNBC)
Short selling is booming again after almost being left for dead due to the GameStop mania, reviving hope that hedge funds could turn things around in 2021. Hedge funds’ short book generated in July the best alpha since 2010, and now it’s outperforming the long side of their strategies, according to Morgan Stanley prime brokerage data.
Wolff, Stroll Cleared of Insider Trading Over Aston Shares (Racer)
Mercedes Formula 1 team principal Toto Wolff and Aston Martin Racing owner Lawrence Stroll were looked into regarding suspicions of insider trading but have been cleared without the need for an investigation. Wolff purchased a 0.95% stake in Aston Martin Lagonda — the car brand — from a Stroll-owned company in April 2020, joining Mercedes’ parent company Daimler as a shareholder. A month later, the former head of AMG, Tobias Moers, was appointed as Aston’s chief executive, and then Daimler increased its own stake in Aston Martin from less than 5% to 20% in late October.
Wednesday 8/25 Insider Buying Report: KTB, ONTF (Nasdaq.com)
At Kontoor Brands, a filing with the SEC revealed that on Friday, CEO Scott H. Baxter bought 10,000 shares of KTB, at a cost of $53.24 each, for a total investment of $532,400. Baxter was up about 7.8% on the purchase at the high point of today’s trading session, with KTB trading as high as $57.37 at last check today. Kontoor Brands is trading up about 3.8% on the day Wednesday. This buy marks the first one filed by Baxter in the past twelve months. And at ON24, there was insider buying on Friday, by Barry Zwarenstein who bought 25,000 shares at a cost of $20.45 each, for a total investment of $511,188. This buy marks the first one filed by Zwarenstein in the past year. ON24 is trading trading flat on the day Wednesday. Zwarenstein was up about 9.8% on the purchase at the high point of today’s trading session, with ONTF trading as high as $22.46 in trading on Wednesday.
The EC of TJX Companies (NYSE: TJX) is Selling Shares (Analyst Ratings)
Yesterday, the EC of TJX Companies (TJX), Carol Meyrowitz, sold shares of TJX for $5.37M. Following Carol Meyrowitz’s last TJX Sell transaction on November 23, 2020, the stock climbed by 14.2%. In addition to Carol Meyrowitz, one other TJX executive reported Sell trades in the last month. Based on TJX Companies’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $12.08 billion and quarterly net profit of $786 million.
