Hedge Funds Down 2.81 per cent in February, Says Backstop BarclayHedge (Hedge Week)
Hedge fund losses picked up in February with the industry down 2.81 per cent for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P Total Return Index was down 8.2 per cent for the month. For the year-to-date the hedge fund industry was down 3.00 per cent through the end of February. The S&P Total Return Index was down almost 8.3 per cent over the same period. All but a handful of hedge fund sectors were in negative territory for February, as what little good economic news to be found in the month was offset by the impact of the spreading coronavirus.
First Hedge Fund Dies Of Coronavirus (Deal Breaker)
We’ve written a lot of hedge fund obituaries in our time, both for the industry (premature) and for individual funds (usually not). There are, of course, all sorts of ways for a hedge fund to die: quantitative easing, manager boredom, confused political and economic outlooks, low volatility, frustration, Brian Hunter. But now we have a novel cause of death, specifically the 2019 Novel Coronavirus, which has claimed more than 5,000 human lives and, now, one limited partnership. Hedge-fund manager Solus Alternative Asset Management LP, known for its investment in retail chain Toys “R” Us, told investors this week that it is shutting its flagship fund and will restrict redemptions as it works to sell off holdings… The firm in the letter told investors it has received unexpected withdrawal requests this year and that the turbulence caused by the coronavirus has made it difficult to raise cash as it normally would to fulfill those requests by selling holdings.
Insider Buying Hits Nine-Year High as Stocks Sink to Bear Market (Bloomberg)
(Bloomberg) — At least one group of investors has gone bargain hunting during the wildest stretch on Wall Street in over a decade. Corporate executives and officers have been scooping up shares of their own companies at a breakneck pace in the first two weeks of March, exceeding the total of the prior two months. Insider buys are outstripping sales by the most since 2011, data compiled by The Washington Service showed.
The President & CEO of Live Nation Entertainment (NYSE: LYV) is Buying Shares (Analyst Ratings)
Yesterday, the President & CEO of Live Nation Entertainment (LYV), Michael Rapino, bought shares of LYV for $999.8K. This is Rapino’s first Buy trade following 5 Sell transactions. In addition to Michael Rapino, 3 other LYV executives reported Buy trades in the last month. Based on Live Nation Entertainment’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.89 billion and GAAP net loss of $185 million.
Ducommun Inc (DCO) Chairman, President & CEO Stephen G Oswald Bought $508,950 of Shares (Guru Focus)
Chairman, President & CEO of Ducommun Inc., Stephen G Oswald, bought 15,000 shares of DCO on 03/11/2020 at an average price of $33.93 a share. The total cost of this purchase was $508,950. Ducommun Inc through its subsidiaries provides engineering and manufacturing services for high-performance products and high-cost-of failure applications used in the aerospace, defense, industrial, natural resources, medical and other industries.
