Shareholders Approve Hedge Fund Alden’s Seats on Tribune Publishing Board Amid Efforts to Break up Newspaper Chain (MSN)
Shareholders of Tribune Publishing formally elected two representatives of hedge fund Alden Global Capital to the newspaper chain’s board Thursday, as the man with the third-largest stake in the company seeks to break it up. Mason Slaine, who owns a 7.9% stake in the company, told the Tribune he voted against all six board nominees at Tribune Publishing’s annual shareholder meeting, and said that he now believes the company should sell all of its newspapers to local investors.
Activist Investors Slam GameStop’s Board for Destroying $2.5 Billion in Shareholder Value (The Motley Fool)
Hedge funds seeking to install two directors on the GameStop (NYSE:GME) board of directors allege that current members destroyed $2.5 billion in shareholder value over the past five years while causing the company to become larded with debt. Hestia Capital Partners and Permit Capital Enterprise Fund own 7.2% of the video game retailer’s stock and they allege seven board members are responsible for GameStop taking on $825 million in debt to finance stock buybacks at around $30 a share, all the while selling their own stock for about $48 a share. Now GameStop is scrambling to refinance some $420 million worth of that debt ahead of its March 2021 maturity date.
Friday 5/22 Insider Buying Report: NP, TRMK (Nasdaq.com)
On Wednesday, Neenah’s SVP, CFO & Treasurer, Paul F. Desantis, made a $299,520 buy of NP, purchasing 6,000 shares at a cost of $49.92 each. Neenah is trading up about 0.3% on the day Friday. And at Trustmark there was insider buying on Tuesday, by Director Richard H. Puckett who bought 5,000 shares at a cost of $22.70 each, for a total investment of $113,525. Trustmark is trading off about 1.2% on the day Friday.
Paycom Software Inc (PAYC) President and CEO Chad R. Richison Sold $174.2 million of Shares (Guru Focus)
President and CEO of Paycom Software Inc., Chad R. Richison, sold 650,000 shares of PAYC on 05/19/2020 at an average price of $268 a share. The total sale was $174.2 million. Paycom Software Inc is a provider of cloud-based HCM software solution delivered as Software-as-a-Services. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
The Non-Executive of New Pacific Metals (Other OTC: NUPMF) is Selling Shares (Analyst Ratings)
Today, the Non-Executive of New Pacific Metals (NUPMF), Martin Wafforn, sold shares of NUPMF for $47.2M. In addition to Martin Wafforn, 5 other NUPMF executives reported Sell trades in the last month.