Hedge Fund Behind AMC Rescue Loan Made Hundreds of Millions in Gains (The Wall Street Journal)
Mudrick Capital Management LP, the hedge fund that provided a much-needed lifeline to AMC Entertainment Holdings Inc. in December, is sitting on hundreds of millions of dollars in gains following last week’s rally in the price of AMC’s shares. The New York-based firm made $200 million in profit, mostly from its holdings in AMC debt, according to a person familiar with the matter.
Apollo Takes in $13 Billion Even With Leon Black Under Microscope (Bloomberg)
Apollo Global Management Inc. plans to overhaul its board in the wake of the fallout from co-founder Leon Black’s business connections. The firm will appoint a lead independent director who will engage directly with management and the board, co-founder Marc Rowan said on an earnings conference call Wednesday. Apollo is also moving toward a two-thirds independent board and is looking to add diversity to bring in different views.
Wednesday 2/3 Insider Buying Report: ARAY, TRIN (Nasdaq.com)
At Accuray, a filing with the SEC revealed that on Monday, Joseph E. Whitters purchased 20,000 shares of ARAY, for a cost of $5.02 each, for a total investment of $100,400. Whitters was up about 7.6% on the purchase at the high point of today’s trading session, with ARAY trading as high as $5.40 at last check today. Accuray is trading up about 8.3% on the day Wednesday. Before this latest buy, Whitters made one other buy in the past twelve months, purchasing $173,135 shares at a cost of $3.46 a piece. And at Trinity Capital, there was insider buying on Friday, by CIO Kyle Steven Brown who purchased 6,800 shares for a cost of $14.00 each, for a trade totaling $95,200. Trinity Capital is trading up about 0.6% on the day Wednesday. So far Brown is in the green, up about 5.0% on their buy based on today’s trading high of $14.70.
Leslies Inc (LESL) CEO Michael R. Egeck Sold $2.5 million of Shares (Guru Focus)
CEO of Leslies Inc, Michael R. Egeck, sold 90,915 shares of LESL on 02/01/2021 at an average price of $27.95 a share. The total sale was $2.5 million. Leslies Inc has a market cap of $5.48 billion; its shares were traded at around $29.370000 with a P/E ratio of 91.50 and P/S ratio of 8.07. GuruFocus has detected 1 severe warning sign with Leslies Inc.
Blackrock (NYSE: BLK) Executives are Making Moves with Their Shares (Analyst Ratings)
Yesterday, the Senior MD of Blackrock (BLK), Mark Mccombe, sold shares of BLK for $1.07M. Following Mark Mccombe’s last BLK Sell transaction on July 22, 2020, the stock climbed by 153.4%. In addition to Mark Mccombe, 2 other BLK executives reported Sell trades in the last month.
SEBI Bars Future Group’s CEO From Securities Market In Insider Trading Case (NDTV.com)
The country’s market regulator on Wednesday barred Future Group Chief Executive Kishore Biyani and his brother Anil from accessing the securities market for a year after investigating insider trading in shares of its retail firm Future Retail in 2017. The Securities and Exchange Board of India (SEBI) said the two brothers traded in shares of Future Retail through a group company on the basis of unpublished price sensitive information before a demerger of certain businesses of Future Retail that pushed its share price higher.
