Active-Management Alpha Now Key to Hedge Funds’ Success, as Economies Emerge from Covid Slump (Hedge Week)
K2 Advisors, the hedge fund investing unit of Franklin Templeton, says active-management alpha will be critical to hedge funds’ success this year, as the global economy mounts a tentative recovery from the coronavirus pandemic. Brooks Ritchey and Robert Christian, co-heads of investment research and management at K2, said the Covid-driven economic slowdown appears to be nearing an end, as individuals and corporations have been able to weather the economic storm partly due to “enormous stimulus” from governments.
More Traders Likely Face Charges in Danish Cum-Ex Probes (1) (Bloomberg Law)
Danish prosecutors who charged hedge-fund manager Sanjay Shah with running a $1.6 billion tax fraud say they’re looking at a “number of other suspects” in the case. Prosecutors said they’ll be in a position by March to decide whether to press charges against more members of a network that they say was set up to defraud the government in the biggest and most complex tax case in history. Prosecutors still need to finish some of their investigation, including interviewing “several people,” Per Fiig, acting head of the State Prosecutor’s Office, said in an interview.
Enlabs Shareholder Hedge Fund to Fight “Inadequate” Entain Takeover Bid (EGR)
Major Enlabs shareholders have joined forces to rebuff the acceptance of a £250m takeover bid from Entain. Alta Fox Capital Management, which owns a 3.34% stake in Enlabs, confirmed it would reject any overtures by the FTSE 100 operator to purchase its shareholding at the proposed offer price of SEK40 per share. “This offer materially…
Insider Trading: January 18, 2021 (BIV.com)
Insider Mans Johansson, officer. Company: Canfor Pulp Products Inc. (TSX:CFX). Shares owned: 108,000. Trade date: Jan 11. Trade total: $801,360. Trade: Acquisition of 108,000 shares at a price of $7.42 per share. Insider David Tokpay Kong, director. Company: New Pacific Metals Corp. (TSX:NUAG). Shares owned: 181,000. Trade date: Jan 7, 8. Trade total: $118,340. Trade: Sale of 14,000 shares at prices from $8.16 to $8.63 per share.
Notable Insider Buys Of The Past Week: Conagra Brands Plus Plenty Of Biotech Activity (Benzinga)
Clinical-stage biopharmaceutical company Fate Therapeutics Inc (FATE) had a 10% owner increase its stake at a time when the chief executive and other officers were selling shares. The more than 327,400 shares acquired, at a public offering price of $85.50 apiece, added up to nearly $28.00 million. That raised that owner’s stake to more than 12.95 million shares, compared to a total float of more than 85 million. Shares closed most recently at $113.59. Biotech company Aldeyra Therapeutics Inc (ALDX) saw a 10% owner recently add 1.05 million shares to their stake. At $7.49 to $10.43 per share, the transactions totaled more than $9.20 million. The stock closed most recently at $13.37, which is above the purchase price range. Note that this Lexington, Massachusetts-based company also announced a secondary offering of shares at $9.50 apiece.
An Insider at Canadian Railway (NYSE: CNI) is Selling Shares (Analyst Ratings)
Today, an Insider at Canadian Railway (CNI), William Henry Gates, sold shares of CNI for $87.06M. Over the last month, William Henry Gates has reported another 5 Sell trades on CNI for a total of $232.8M. The company has a one-year high of $116.16 and a one-year low of $65.13. Currently, Canadian Railway has an average volume of 494.13K. CNI’s market cap is $79.24 billion and the company has a P/E ratio of 31.00.
Cloudflare Inc (NET) President and COO Michelle Zatlyn Sold $11.7 million of Shares (Guru Focus)
President and COO of Cloudflare Inc, Michelle Zatlyn, sold 146,100 shares of NET on 01/15/2021 at an average price of $80.32 a share. The total sale was $11.7 million. Cloudflare Inc has a market cap of $23.92 billion; its shares were traded at around $77.850000 with and P/S ratio of 59.93.
Intelsat Chairman Being Sued for Alleged Insider Trading in Shareholder Lawsuit (Fox Business)
Legal papers claim David McGlade sold stock in satellite operator hours after finding out FCC ruling against proposal. The chairman of satellite operator Intelsat is being sued for insider trading in an explosive new shareholder lawsuit that also dings private-equity giants BC Partners and Silver Lake Partners, a New York Knicks shareholder.
