Pershing Square Tontine Holdings Still Has Too Many Headwinds to Be Worthwhile Now (Investorplace)
If he can pull it off, successfully bringing a company to market through his Pershing Square Tontine Holdings (NYSE:PSTH) special purpose acquisition company (SPAC) might be hedge fund manager Bill Ackman’s greatest accomplishment yet. Whether PSTH is worth your money right now is a different story altogether. In 2020, Ackman delivered a 70% return to investors in his hedge fund, far better than the 16% return provided by the S&P 500 index last year.
How this Brevan Howard-backed Asset Manager is Trying to Tackle Crypto’s Carbon Emission Problem with Help from Ex-SEC chairman Clayton (Business Insider)
As interest in cryptocurrency has surged, so, too, has its associated energy use. Bitcoin, which consumes more energy than Argentina, now uses 80% more energy than it did at the start of 2020, a Cambridge study found. Asset managers are scrambling to reconcile investor appetite for crypto and sustainability, two trends that are at odds because of the environmental harm associated with mining cryptocurrency. One River Asset Management, a $2.5 billion hedge fund backed by Brevan Howard, believes it has found a way to bridge the gap.
Alternatives Managers Deliver Q1 Records (Preqin)
Dating apps, SPACs, and accounting shine as the big four release Q1 results. The biggest alternative asset fund managers had a record first quarter, with net income attributable to shareholders at the big four – Blackstone, KKR, Apollo, and Carlyle – reversed from a combined loss of $6.8bn in Q1 2020 to a gain of $7.4bn for Q1 2021. Performance was boosted by a strong fundraising market for managers with established relationships, healthy realizations (particularly from tech investments) and increased valuations of unrealized investments.
Wednesday 5/5 Insider Buying Report: APH, MASI (Nasdaq.com)
At Amphenol, a filing with the SEC revealed that on Tuesday, Director Robert Livingston purchased 20,000 shares of APH, for a cost of $65.92 each, for a total investment of $1.32M. So far Livingston is in the green, up about 2.0% on their purchase based on today’s trading high of $67.24. Amphenol is trading up about 0.6% on the day Wednesday. This buy marks the first one filed by Livingston in the past twelve months. And at Masimo, there was insider buying on Monday, by EVP, GEN COUNSEL & CORP SEC Thomas Samuel McClenahan who bought 1,000 shares for a cost of $231.62 each, for a total investment of $231,620. This buy marks the first one filed by McClenahan in the past twelve months. Masimo Corp. is trading off about 0.7% on the day Wednesday. Bargain hunters are able to snag MASI even cheaper than McClenahan did, with the stock trading as low as $221.94 at last check today — that’s 4.2% below McClenahan’s purchase price.
A Director at Conagra Brands (NYSE: CAG) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Conagra Brands (CAG), Thomas K. Brown, sold shares of CAG for $412.9K. Following Thomas K. Brown’s last CAG Sell transaction on April 10, 2020, the stock climbed by 6.2%. In addition to Thomas K. Brown, one other CAG executive reported Sell trades in the last month. Based on Conagra Brands’ latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $2.77 billion and quarterly net profit of $281 million.
Snap-on Inc (SNA) Chairman, President and CEO Nicholas T Pinchuk Sold $5.8 million of Shares (Guru Focus)
Chairman, President and CEO of Snap-on Inc, Nicholas T Pinchuk, sold 24,507 shares of SNA on 05/03/2021 at an average price of $238.12 a share. The total sale was $5.8 million.
