Starboard’s Newell Board Nominees Retreat After Icahn Swoop (Reuters)
(Reuters) – Four of Starboard Value’s nominees to Newell Brands Inc’s (NWL.N) board of directors withdrew their nominations, a day after the company rebuffed the activist hedge fund’s challenge by giving billionaire investor Carl Icahn four board seats. If Starboard does decide to contest board elections at Newell, it would reduce its slate of nominees to a minority of the board, the Jeffrey Smith-led hedge fund said on Tuesday. New Jersey-based Newell, known for its Sharpie pens and Rubbermaid household items, has over the past month wrangled with Starboard, which initially wanted to replace the company’s entire board with its own 12-member slate.
New York Hedge Fund Reveals Stake in Spencer’s NEX Group (FNLondon.com)
The hedge fund York Capital Management has revealed a stake in Michael Spencer’s NEX Group, as the market waits to see whether CME Group will bid for the financial trading and technology provider. The New York-based hedge fund, founded in 1991 by former investment banker Jamie Dinan, has taken a 3.39% holding in NEX, according to a notification to the London Stock Exchange on Tuesday. York crossed thresholds that require disclosure last Friday, the day after NEX confirmed it had received a preliminary approach from the CME. The futures exchange later said it was working with NEX to complete due diligence ahead of a potential offer.
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Marshall Wace Gets Keyed Up on Tech Kings: Micron Technology, Inc. (MU), Facebook Inc (FB) (SmarterAnalyst.com)
Marshall Wace first got its market legs 21 years ago, when founders Ian Wace and Paul Marshall leaned on risk management-minded thinking to bring this billions-making hedge fund machine to life. Now, this long/short equity firm is one of the biggest alternative asset management companies in the globe. If you’re following the recommendations of Wace and Marshall, whose firm landed first place among the yearly rating of Alpha’s leading hedge funds in 2016, Micron Technology, Inc. (NASDAQ:MU) and Facebook, Inc. (NASDAQ:FB) are two tech stocks worth the bet.
Doing Your Homework Does Lead to Better Investing Returns, Academic Study Suggests (CNBC)
By mapping hedge fund internet protocol (IP) addresses to those accessing financial filings at the SEC, the team identified public information acquisition by hedge funds such as Renaissance Technologies, PanAgora and AQR Capital Management. Perhaps most surprising, the researchers found the median fund-month download amount is only four filings while the mean was 672, suggesting that relatively few funds are accessing vastly more information.
Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) Insider Acquires 269,197 Shares of Stock (RegistrarJournal.com)
Prospect Capital Co. (NASDAQ:PSEC) insider John F. Barry purchased 269,197 shares of Prospect Capital stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $6.63 per share, for a total transaction of $1,784,776.11. The purchase was disclosed in a legal filing with the SEC.
Insider Selling: CytomX Therapeutics Inc (CTMX) CFO Sells 33,000 Shares of Stock (LedgerGazette.com)
CytomX Therapeutics Inc (NASDAQ:CTMX) CFO Debanjan Ray sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $29.99, for a total transaction of $989,670.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Insider Selling: Ichor Holdings Ltd (ICHR) Insider Sells 35,650 Shares of Stock (LedgerGazette.com)
Ichor Holdings Ltd (NASDAQ:ICHR) insider Philip Ryan Sr. Barros sold 35,650 shares of Ichor stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $25.47, for a total transaction of $908,005.50. The sale was disclosed in a document filed with the SEC.
Insider Selling: First Foundation Inc (FFWM) Director Sells 24,695 Shares of Stock (StockNewsTimes.com)
First Foundation Inc (NASDAQ:FFWM) Director Max Briggs sold 24,695 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $19.00, for a total transaction of $469,205.00. Following the completion of the transaction, the director now directly owns 11,101 shares of the company’s stock, valued at $210,919. The sale was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Buying: Energen Co. (EGN) Director Buys 17,500 Shares of Stock (StockNewsTimes.com)
Energen Co. (NYSE:EGN) Director Jonathan Z. Cohen acquired 17,500 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was bought at an average price of $57.36 per share, for a total transaction of $1,003,800.00. Following the completion of the transaction, the director now owns 17,500 shares of the company’s stock, valued at approximately $1,003,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Insider Buying: La Jolla Pharmaceutical (NASDAQ:LJPC) Director Buys 10,000 Shares of Stock (RegistrarJournal.com)
La Jolla Pharmaceutical (NASDAQ:LJPC) Director Kevin C. Tang acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average cost of $30.44 per share, for a total transaction of $304,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission.
