Hedge Fund Snow Park Pushes Japara on New Structure (AFR.com)
New York-based hedge fund Snow Park is actively pushing for aged care group Japara to hive off as much as $400 million in property assets in an attempt to realise better value for the stock price, which has been trading below book value. Aged care stocks have tumbled this year due to the announcement of a royal commission into the sector as well as uncertainty about property prices and government funding cuts. Snow Park’s Jeffrey Pierce flew into Australia this week and met with Japara management to pitch the plan of turning Japara back into an operating company with a separate property company that would sell and lease back the aged care real estate.
Sears Investors Claim Hedge Fund Cyrus Improperly Influencing Credit Market: Letter (Reuters)
NEW YORK (Reuters) – Investors who bought insurance meant to mitigate losses from Sears Holdings Corp’s (SHLDQ.PK) bankruptcy proceedings are claiming that a hedge fund that sold the insurance is improperly influencing market proceedings, according to a letter seen by Reuters. According to the letter, Cyrus Capital Partners LP worked to “torpedo” an auction planned for Tuesday for company bonds by getting Sears to include wording in a bankruptcy court order that would disqualify the bonds in credit proceedings.
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WorldQuant’s New Fund Said to Lose 9.5% as Chaos Smashes Algos (Bloomberg)
(Bloomberg) — WorldQuant’s first fund for outside investors lagged behind its target index in October and has underperformed the benchmark since it started, according to people who have been briefed on the returns. The $2.6 billion quant stock fund, a joint venture between Igor Tulchinsky’s WorldQuant and Izzy Englander’s Millennium Management, is designed to significantly outperform the MSCI World Index, said the people, asking not to be identified because the returns haven’t been publicly disclosed. The fund, which started in May, dropped 9.5 percent in October, compared with a 7.3 percent decline in the index.
Campbell Soup’s Activist Fight Going Down to the Wire Over Two Nominees (CNBC)
In a week, shareholders will vote on whether Campbell Soup’s board will face its most significant disruption in 64 years as a public company. Activist firm Third Point has been waging a proxy battle against Campbell, demanding that it put five of its nominees on its board. In this contest for Campbell, it is seemingly no longer a question of whether it will add Third Point nominees but how many. The number is significant. According to the bylaws, Campbell has 12 board members, with the ability to go to 14, with board approval. (Its bylaws could be amended to boost the board even more.)
Carney: Hedge Funds Are Manuevering to Loot Fannie and Freddie from the U.S Taxpayer (Breitbart.com)
Blackstone, the world’s largest private equity group, and the hedge fund Paulson & Co., run by Trump Wall Street supporter John Paulson, last year reportedly hired the investment bank Moelis & Co. to develop proposals to overhaul the two agencies. The plan went nowhere, in large part because it was dead on arrival in the House Financial Services committee, then run by conservative Republican stalwart Jeb Hensarling. Hensarling, however, chose not to run for re-election and the chair of the committee will now be occupied by leftwing Democrat Maxine Waters of California.
Insider Buying: Ballantyne Strong Inc (BTN) Director Acquires 698,459 Shares of Stock (FairFieldCurrent.com)
Ballantyne Strong Inc (NYSEAMERICAN:BTN) Director Global Investors Fundamental purchased 698,459 shares of Ballantyne Strong stock in a transaction dated Thursday, October 25th. The shares were purchased at an average price of $4.16 per share, with a total value of $2,905,589.44. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: National CineMedia, Inc. (NASDAQ:NCMI) Major Shareholder Buys 459,738 Shares of Stock (PressOracle.com)
National CineMedia, Inc. (NASDAQ:NCMI) major shareholder General L.P. Standard acquired 459,738 shares of the stock in a transaction that occurred on Friday, November 9th. The stock was acquired at an average cost of $7.49 per share, for a total transaction of $3,443,437.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Corvus Gold Inc (CORVF) CEO Sells 816,900 Shares of Stock (MaconDaily.com)
Corvus Gold Inc (OTCMKTS:CORVF) CEO Jeffrey A. Pontius sold 816,900 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $1.51, for a total value of $1,233,519.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Insider Buying: Unifi, Inc. (NYSE:UFI) Insider Acquires 27,909 Shares of Stock (MareaInformativa.com)
Unifi, Inc. (NYSE:UFI) insider Spring Master Fund L. Valueact bought 27,909 shares of the business’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average price of $26.81 per share, for a total transaction of $748,240.29. The transaction was disclosed in a document filed with the SEC.
Insider Buying: American Homes 4 Rent (AMH) Director Acquires 355,998 Shares of Stock (PressOracle.com)
American Homes 4 Rent (NYSE:AMH) Director Tamara Hughes Gustavson acquired 355,998 shares of American Homes 4 Rent stock in a transaction dated Tuesday, November 13th. The shares were purchased at an average cost of $20.48 per share, with a total value of $7,290,839.04. Following the completion of the transaction, the director now directly owns 16,869,998 shares of the company’s stock, valued at $345,497,559.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Cerecor Inc (CERC) Major Shareholder Buys 107,800 Shares of Stock (FairFieldCurrent.com)
Cerecor Inc (NASDAQ:CERC) major shareholder Armistice Capital Master Fund purchased 107,800 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were bought at an average cost of $3.95 per share, with a total value of $425,810.00. The acquisition was disclosed in a legal filing with the SEC.
