Summer is Fading. But Performance in August was Hot at Hedge Funds Including Citadel, D.E. Shaw, Millennium, and Sculptor (Business Insider)
Multi-strategy hedge funds had a strong August, while the broader stock market fell. Most managers posted positive performance, Sculptor and Citadel led the way. Millennium (+1.9%) and D.E. Shaw (+1.3%) also had strong performance. Multi-strategy fund managers remain as popular as ever. That isn’t necessarily a good thing, according to the industry’s top player.
The Raleigh Hedge Fund Manager Who Still Bets on Oil and Gas (BizJournals)
A longtime investor is sticking with oil and gas with his new Raleigh hedge fund, despite an increase in industry attention – and dollars – on renewable energy. Mark Corigliano, an eight-year veteran at DUMAC (formerly Duke Management Company), started Corigliano Investment Advisors last year with ambitions of a $100 million vehicle, to be called Energy Security Fund L.P.
Weinstein Group Revises Sculptor Bid After Board’s Concerns (Bloomberg)
Boaz Weinstein and his group of bidders revised their offer to buy Sculptor Capital Management Inc., seeking to address some of the concerns the board’s special committee outlined in a proxy filing last week, according to people familiar with the matter. While Weinstein’s bid remains at $12.76 a share, it has beefed up its equity commitments, eliminated risks associated with debt financing and increased the damages it would pay if it fails to consummate the transaction, the people said.
Wednesday 9/6 Insider Buying Report: BHRB, SR (Nasdaq.com)
At Burke Herbert Financial Services, a filing with the SEC revealed that on Friday, Director Shawn Patrick McLaughlin purchased 1,400 shares of BHRB, at a cost of $49.85 each, for a total investment of $69,794. McLaughlin was up about 3.8% on the purchase at the high point of today’s trading session, with BHRB trading as high as $51.75 at last check today. Burke Herbert Financial Services is trading trading flat on the day Wednesday. And at Spire, there was insider buying on Friday, by Treasurer Adam W. Woodard who purchased 1,000 shares at a cost of $58.70 each, for a total investment of $58,700. This purchase marks the first one filed by Woodard in the past year. Spire is trading up about 1.1% on the day Wednesday. Investors have the opportunity to grab SR at a price even lower than Woodard did, with shares trading as low as $57.29 at last check today — that’s 2.4% under Woodard’s purchase price.
McDonald’s, Moderna And 2 Other Stocks Insiders Are Selling (Benzinga)
Moderna: The Trade: Moderna, Inc. (MRNA) Director Noubar B. Afeyan sold a total of 15,000 shares at an average price of $115.46. The insider received around $1.73 million from selling those shares. McDonald’s: The Trade: McDonald’s Corporation (MCD) EVP – Chief People Officer Heidi Capozzi sold a total of 1,042 shares at an average price of $282.54. The insider received around $194,388 from selling those shares.
