Why a $2 Billion Foundation Scrapped Its Entire Hedge Fund Portfolio (Institutional Investor)
After years of lagging returns, some asset owners have cut back their hedge fund exposure in favor of better-performing private assets. But the University of Nebraska Foundation has gone a step further. In 2020, the $2 billion foundation completely jettisoned its hedge fund portfolio, which made up roughly 15 percent of its endowment. Even though hedge fund returns are bouncing back — a PivotalPath index showed that last year the industry posted its best performance since 2013 — the foundation’s investment chief Brian Neale said the decision is working out well so far.
The Executive Board Chairman of Patrick Industries (NASDAQ: PATK) is Selling Shares (Analyst Ratings)
Yesterday, the Executive Board Chairman of Patrick Industries (PATK), Todd Cleveland, sold shares of PATK for $1.8M. Following Todd Cleveland’s last PATK Sell transaction on December 19, 2019, the stock climbed by 34.4%. Based on Patrick Industries’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.02 billion and quarterly net profit of $58.99 million. In comparison, last year the company earned revenue of $424 million and had a net profit of $714K. The company has a one-year high of $98.83 and a one-year low of $47.74. PATK’s market cap is $2 billion and the company has a P/E ratio of 11.00.
Friday 8/27 Insider Buying Report: NLTX, CYXT (Nasdaq.com)
On Wednesday, Neoleukin Therapeutics’ CEO, Jonathan G. Drachman, made a $933,550 purchase of NLTX, buying 150,000 shares at a cost of $6.22 a piece. So far Drachman is in the green, up about 22.1% on their purchase based on today’s trading high of $7.60. Neoleukin Therapeutics Inc is trading up about 18.6% on the day Friday. And at Cyxtera Technologies, there was insider buying on Wednesday, by Director Gregory L. Waters who bought 93,570 shares at a cost of $8.39 each, for a total investment of $785,464. Cyxtera Technologies is trading trading flat on the day Friday.
Don’t Take Coercive Steps Against NDTV Promoters Till Their Pleas are Heard: SC to SEBI (The Print)
New Delhi: The Supreme Court Friday asked markets regulator Sebi not to take any coercive steps against NDTV promoters Prannoy Roy and Radhika Roy till it hears their pleas on September 3 against the penalty proceedings related to alleged violation of securities norms by concealing information from shareholders on certain loan agreements. A bench headed by Chief Justice N V Ramana was requested by the Securities and Exchange Board of India (Sebi) that the hearing on the pleas of the NDTV promoters be adjourned till next Friday.
What Did This CEO Just Do with Personal Shares of Stag Industrial (NYSE: STAG)? (Analyst Ratings)
Yesterday, the COB, CEO & Pres of Stag Industrial (STAG), Benjamin Butcher, sold shares of STAG for $1.44M. Following Benjamin Butcher’s last STAG Sell transaction on July 31, 2020, the stock climbed by 9.9%. Based on Stag Industrial’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $138 million and quarterly net profit of $32.65 million. In comparison, last year the company earned revenue of $118 million and had a net profit of $18.91 million. The company has a one-year high of $42.30 and a one-year low of $29.34. Currently, Stag Industrial has an average volume of 634.17K.
