Virgin Galactic Falls as Billionaire Branson Sells Stake Worth $300 Million (Reuters)
Aug 13 (Reuters) – Shares of Virgin Galactic Holdings Inc (SPCE.N) fell nearly 3% on Friday after its founder and British billionaire Richard Branson sold a portion of his stake for nearly $300 million. Branson sold more than 10 million shares between Aug. 10 and 12, according to a regulatory filing from late Thursday.
Hedge Fund Element Has 2.5% July Gain by Avoiding Volatile Rates (Bloomberg)
Element Capital Management climbed 2.5% in July by avoiding wagers on interest rates that burned the macro hedge fund in February — and some of its peers more recently. The $15 billion firm, founded by Jeff Talpins, is still down 5.7% this year after losing 7% in February, according to people familiar with its performance. It gained 1% in June.
A New Kind Of GP Stake Deal: Billionaire-Backed Nile Capital Takes Minority Stake In VC Firm Wilshire Lane Capital (Forbes)
In the booming private equity and venture capital industries, fast-growing firms like Clearlake Capital and New Enterprise Associates have been able to turn to funds built to buy minority stakes in investment firms, giving them new capital for growth. Now, the market for staking these general partnerships is expanding to include newer firms, often with founders from diverse backgrounds looking for early-stage capital to build the infrastructure necessary to win the confidence of large pensions and endowments.
The EC of DTE Energy (NYSE: DTE) is Selling Shares (Analyst Ratings)
Yesterday, the EC of DTE Energy (DTE), Gerard Anderson, sold shares of DTE for $1.21M. Following Gerard Anderson’s last DTE Sell transaction on August 14, 2019, the stock climbed by 19.9%. Based on DTE Energy’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.23 billion and quarterly net profit of $179 million. In comparison, last year the company earned revenue of $2.58 billion and had a net profit of $277 million. The company has a one-year high of $145.43 and a one-year low of $109.65. Currently, DTE Energy has an average volume of 491.70K.
Thursday 8/12 Insider Buying Report: HFC, ATVI (Nasdaq.com)
At HollyFrontier, a filing with the SEC revealed that on Tuesday, Director Michael E. Rose bought 13,500 shares of HFC, at a cost of $28.92 each, for a total investment of $390,420. So far Rose is in the green, up about 6.0% on their purchase based on today’s trading high of $30.66. HollyFrontier is trading up about 0.7% on the day Thursday. This purchase marks the first one filed by Rose in the past year. And at Activision Blizzard, there was insider buying on Monday, by Director Peter J. Nolan who purchased 3,950 shares at a cost of $81.93 each, for a total investment of $323,608. Before this latest buy, Nolan purchased ATVI at 2 other times during the past twelve months, for a total investment of $2.09M at an average of $94.96 per share. Activision Blizzard is trading trading flat on the day Thursday. So far Nolan is in the green, up about 4.3% on their buy based on today’s trading high of $85.46.
