Citadel’s Annual Data Open Goes Virtual in 2020 (Pensions&Investments)
Who better than teams of college data scientists to ace — remotely — a contest for cash and the chance to work at one of the world’s best-known hedge funds? Because of the COVID-19 crisis, Chicago-based hedge fund manager Citadel LLC and sister company Citadel Securities LLC held their third-annual Data Open Championship virtually. Nearly 1,000 undergraduate and graduate college students from the U.S., U.K. and France competed in 11 regional competitions during the 2019-2020 academic year, a Citadel news release said.
FCA’s Stark Warning: Insider Traders will be Caught During Covid-19 Crisis (FNLondon.com)
The City’s top market watchdog has warned insider traders that it will catch them, even during the coronavirus outbreak. Mark Steward, the Financial Conduct Authority’s executive director of enforcement and market oversight, told Financial News that the regulator was bracing for an uptick in market abuse cases in the coming months.
Monday 5/4 Insider Buying Report: UNTY, CINF (Nasdaq.com)
On Thursday, Unity Bancorp’s , David D. Dallas, made a $305,550 buy of UNTY, purchasing 20,000 shares at a cost of $15.28 a piece. Unity Bancorp is trading off about 7.2% on the day Monday. This purchase marks the first one filed by Dallas in the past year. And on Wednesday, Dirk J. Debbink purchased $144,500 worth of Cincinnati Financial, purchasing 2,000 shares at a cost of $72.25 each. Before this latest buy, Debbink bought CINF on 4 other occasions during the past twelve months, for a total cost of $182,865 at an average of $92.63 per share. Cincinnati Financial is trading off about 2.7% on the day Monday. Bargain hunters can snag CINF at a price even lower than Debbink did, with shares changing hands as low as $58.67 at last check today — that’s 18.8% below Debbink’s purchase price.
Top Insider Buys Highlight for the Week of May 1 (Guru Focus)
The largest Insider Buys this week were for AT&T Inc. (NYSE:T), Coca-Cola Co. (NYSE:KO), Charles Schwab Corp. (NYSE:SCHW) and Delta Air Lines Inc. (NYSE:DAL). AT&T director bought 36,000 shares. Director Stephen J. Luczo bought 36,000 shares on April 22 for an average price of $29.38. The share price has increased by 1.77% since then. AT&T is a multinational telecommunications conglomerate that is the second-largest provider of mobile telephone services and the largest provider of fixed telephone services in the U.S. It also provides broadband subscription television services through DirecTV. The company has a market capitalization of $213.04 billion; as of May 1, it traded at $29.90.
The COO of Ford Motor (NYSE: F) is Buying Shares (Analyst Ratings)
Today, the COO of Ford Motor (F), James D. Farley, bought shares of F for $998.1K. Following this transaction James D. Farley’s holding in the company was increased by 30.75% to a total of $4.08 million. This is Farley’s first Buy trade following 10 Sell transactions.
Notable Insider Buys This Past Week: Immunomedics, Simply Good Foods And More (Benzinga)
Insiders continued to add shares despite overall market volatility and global economic gloom. Here are some of the most noteworthy insider purchases reported in the past week. Immunomedics: An Immunomedics, Inc. (IMMU) director took advantage of a common stock offering to add 1.75 million shares. At the offering price of $28.50 per share, that cost the director almost $49.88 million and raised the stake to 26.25 million shares. Shares outstanding number fewer and 180 million. Immunomedics stock ended last week’s trading at $30.38 per share, so the purchase seems well timed. The share price is up more than 157% since its year-to-date low last month. Myovant Sciences: Myovant Sciences Ltd (MYOV) saw 10% owner Sumitomo Chemical purchase about 190,500 shares of this London-based biopharmaceutical company last week at prices averaging about $12.05 apiece. That totaled almost $2.30 million. Note that Myovant’s parent is a subsidiary of Sumitomo, which frequently has been buying shares since establishing a Rule 10b5-1 stock trading plan during the market’s pandemic selling panic in mid-March. Myovant stock ended the week trading at $11.15, below the above purchase price. However, shares are still up more than 68% from their year-to-date low in March.
