Amtek Lenders Close to Sealing Resolution with US Hedge Fund (The Economic Times)
Mumbai: Debt resolution at bankrupt auto parts maker Amtek Auto is finally moving forward as lenders and US-based hedge fund Deccan Value Investors LP (DVIL) are close to inking an agreement to complete the Rs 2,700-crore deal, four people familiar with the plan told ET. Bankers and officials from DVIL have been engaged in negotiations for the last 10 days to clarify covenants, clauses and timelines for the repayment after the fund submitted Rs 300 crore of bank guarantees as the first step to fulfil its commitment.
Glass Lewis Backs One of Starboard’s Three Nominees in Box Proxy Fight (Reuters)
NEW YORK, Aug 27 (Reuters) – Proxy advisory firm Glass Lewis on Friday recommended that investors in cloud storage vendor Box elect one of Starboard Value‘s three proposed nominees to the board, arguing change is needed after a “puzzling” capital raise and “reactive governance” changes. Glass Lewis is backing Peter Feld, a partner at Starboard, owner of an 8.4 stake in Box (BOX.N), to join the 10-person board. “We believe there remains sufficient cause to support the election of a direct shareholder representative at this time,” Glass Lewis wrote in its report, which was seen by Reuters.
The Simple Tricks That Turned One Investor’s $70,000 Retirement Account into a $264 Million Fortune (The Washington Post)
You can sometimes find fascinating information in footnotes — and that’s where I discovered the amazing investment returns of Ted Weschler, 60, a relatively low-profile money manager based in Charlottesville whose retirement account has outperformed the S&P 500 by hundreds to 1. Weschler, who operates out of a two-person shop located above a bookstore, has been one of Warren Buffett’s deputies at Berkshire Hathaway since 2012, where he manages billions of Berkshire bucks.
Hedge Fund Sentiment Shifts As Delta Fear Grows (Forbes)
According to Eurekahedge, global hedge funds were up 8.07% for the first six months of the year, following a return of 0.25% for June. Long/short equity loses momentum: HFM Insights reports that long/ short equity hedge funds lost momentum in June due to decelerating performance gains and increased outflows. The strategy returned 0.8% in June, bringing its return to 11.6% for the first six months of the year.
Hedge Fund Software Market is Booming Worldwide with Eze Software, FundCount, Northstar Risk (ReportedTimes.com)
Advance Market Analytics published a new research publication on “Hedge Fund Software Market Insights, to 2026” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Hedge Fund Software market was mainly driven by the increasing R&D spending across the world.
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.
