Ex-Hockey Player Steers Hedge Fund to Record Bullish Bet on Oil (Bloomberg)
It’s no secret oil and energy shares have lacked widespread support on Wall Street this year. But a professional hockey player-turned-hedge-fund manager in Canada is wagering on the contrary. Oil is becoming a better bet as demand rises from historic lows hit during early coronavirus shutdowns, while drillers continue to rein in spending, potentially causing a supply shortage, said Xavier Majic, founding partner and chief investment officer of Toronto-headquartered Maple Rock Capital Partners, which has about $700 million in assets under management.
Hedge Fund Managers Look to Outsource Work Amidst Covid Pandemic (Economic Times)
MUMBAI: Hedge funds that had seen their operational models being disrupted due to Covid pandemic have been relying on outsourcing part of their work to achieve greater efficiency. Many hedge fund managers that saw most of the executives being stranded at home due to the pandemic have been exploring the outsourcing model, especially some part of their work.
Insider Trading: November 23, 2020 (BIV.com)
Insider Eric Savics, 10% owner. Company: Rubicon Organics Inc. (TSX-V:ROMJ). Shares owned: 3,794,600. Trade date: Nov 16. Trade total: $1,600,000. Trade: Sale of 400,000 shares at a price of $4 per share. Insider Anthony Robert Guglielmin, officer. Company: Ballard Power Systems Inc. (TSX:BLDP). Shares owned: 16,718. Trade date: November 17. Trade total: $225,000. Trade: Sale of 10,000 shares at a price of $22.50 per share.
Monday 11/23 Insider Buying Report: TLS, FLXS (Nasdaq.com)
At Telos, a filing with the SEC revealed that on Thursday, Director John W. Maluda purchased 441 shares of TLS, for a cost of $7497.00 each, for a total investment of $3.31M. Investors can snag TLS at a price even lower than Maluda did, with shares trading as low as $19.50 at last check today which is 99.7% under Maluda’s purchase price. Telos is trading up about 6.1% on the day Monday. This buy marks the first one filed by Maluda in the past twelve months. And on Friday, Director Matthew Kaness bought $190,960 worth of Flexsteel Industries, buying 7,000 shares at a cost of $27.28 each. Before this latest buy, Kaness bought FLXS on 3 other occasions during the past twelve months, for a total cost of $342,290 at an average of $14.88 per share.
The EVP & CFO of United Airlines Holdings (NASDAQ: UAL) is Selling Shares (Analyst Ratings)
On November 20, the EVP & CFO of United Airlines Holdings (UAL), Gerald Laderman, sold shares of UAL for $404.4K. In addition to Gerald Laderman, 5 other UAL executives reported Sell trades in the last month.
Moderna’s CEO Sold Nearly $2 million of His Stock Ahead of the Company’s Emergency Use Vaccine Filing. He’s Now Worth $3 Billion. (Business Insider)
Moderna’s chief executive Stephane Bancel cashed out $1.74 million worth of his shares just as the company has sought to secure emergency use authorization by the end of this month, according to filings registered with the SEC. The company’s stock soared 10% last week after data showed its vaccine candidate is 94.5% effective. It was trading up 2.5% on Monday. The stock’s recent rally has lifted Bancel’s net worth to $3.1 billion, based on his 6% stake in the group, according to the Bloomberg Billionaires Index.
Agco Corp (AGCO) Chairman, President and CEO Martin Richenhagen Sold $14.5 million of Shares (Guru Focus)
Chairman, President and CEO of Agco Corp., Martin Richenhagen, sold 156,946 shares of AGCO on 11/20/2020 at an average price of $92.12 a share. The total sale was $14.5 million. AGCO Corp is a Georgia-based company which manufactures and distributes agricultural equipment and related replacement parts in various parts of the country. It sells a full range of agricultural equipment, including tractors, combines, among others.
Insider Weekends: CEO Of SuRo Capital Steps Up His Purchases (Seeking Alpha)
Summary: Insider buying declined significantly last week with insiders purchasing $49.91 million of stock. Notable Insider Buys: MultiPlan Corporation, GreenSky, Inc., Morgan Stanley, SuRo Capital Corp., PLx Pharma Inc. Notable Insider Sells: Walmart Inc., AGCO Corporation, The Charles Schwab Corporation, SolarWinds Corporation, IPG Photonics Corporation.
Last Week’s Notable Insider Buys: Avis, Biglari And More (Benzinga)
Four Organogenesis Holdings Inc (ORGO) directors and two beneficial owners altogether purchased about 6.14 million shares at $3.25 and $5.00 apiece last week. That totaled around $20.00 million. Note that these purchases included a common public share offering at $3.25 apiece. Multiplan Corp (MPLN) , a services provider to the health care industry, saw a director and an officer pick up less than 1.43 million shares altogether. At prices ranging from $6.88 to $7.60 per share, that totaled more than $10.10 million. That same director also bought 741,000 shares in the prior week.
