In Awful Year for Hedge Funds, Scaramucci’s SkyBridge Made Money (Bloomberg)
As disastrous as Anthony Scaramucci’s brief turn as White House communications director was, his rebooted career in hedge funds is going much better. SkyBridge Capital, the investment firm Scaramucci founded and now runs again, made money in one of the worst years ever for the hedge fund industry. Unaudited returns for 2018 were 3.6 percent and 4.5 percent after fees in SkyBridge’s two funds, Scaramucci said in a phone interview.
Hudson’s Bay Chairman’s Firm to Buy Ontario Pension Fund Stake in Retailer (Reuters)
(Reuters) – An entity controlled by Hudson’s Bay Co Chairman Richard Baker will buy the stake owned by a unit of Ontario Teachers’ Pension Plan Board in the Canadian retailer, according to L&T B Cayman Inc, a top shareholder in Hudson’s Bay and a joint buyer. The purchase of about 18 million shares at C$9.45 each by Baker’s entity Rupert of the Rhine LLC represents a premium of 28.6 percent to HBC’s Thursday close, L&T B Cayman said on Thursday.
Brevan Howard’s Payouts to Members Shrink 40% as Fee Income Dips (Bloomberg)
Brevan Howard Asset Management LLP’s U.K. unit paid its members an average of 2.3 million pounds ($2.9 million) in the 12 months through March, according to Bloomberg calculations based on a filing to Companies House. That’s a drop of about 40 percent from a year earlier as fee income declined.
Daniel Loeb’s Third Point Hedge Fund Lost 11% Last Year (BizJournals.com)
Activist investor Daniel Loeb and his Third Point hedge fund firm didn’t enjoy a stellar 2018, according to a report. Loeb was in the headlines last year when he battled the Campbell Soup Co. over the New Jersey soup company’s (NYSE: CPB) board makeup. Loeb and Third Point owned about 7 percent of Campbell’s at the time. The battle ended in November, the Philadelphia Business Journal reported, when Campbell said it would increase the number of seats in its board of directors from 12 to 14, adding two of the hedge fund’s five proposed board candidates.
Billionaire Pays the Price for His General Electric Ambush (Bloomberg)
For activist hedge funds like Elliott Management Corp, wading into a takeover situation and compelling the buyer to pay more is bread-and-butter stuff. The controversial tactic even has a silly name: “Bumpitrage” (translation: Buying a stake in a bid target to bump up the deal price, get it?) It’s especially common in Germany, where minority shareholder rights are sacrosanct.
Insider Buying: Windtree Therapeutics Inc (WINT) Major Shareholder Purchases 1,810,938 Shares of Stock (BaseballDailyDigest.com)
Windtree Therapeutics Inc (OTCMKTS:WINT) major shareholder Lph Ii Investments Ltd acquired 1,810,938 shares of the business’s stock in a transaction on Friday, December 21st. The stock was acquired at an average cost of $3.31 per share, with a total value of $5,994,204.78. The transaction was disclosed in a filing with the SEC.
Insider Selling: FS Investment Co. (FSK) CEO Sells 1,122,607 Shares of Stock (FairFieldCurrent.com)
FS Investment Co. (NYSE:FSK) CEO Michael C. Forman sold 1,122,607 shares of the firm’s stock in a transaction on Friday, December 21st. The shares were sold at an average price of $5.15, for a total transaction of $5,781,426.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Buying: ProtoKinetix, Inc. (PKTX) CEO Buys 1,833,333 Shares of Stock (MareaInformativa.com)
ProtoKinetix, Inc. (OTCMKTS:PKTX) CEO Clarence Edward Smith bought 1,833,333 shares of the business’s stock in a transaction on Monday, December 31st. The stock was purchased at an average price of $0.06 per share, for a total transaction of $109,999.98. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.
Insider Selling: Telaria Inc (NYSE:TLRA) Major Shareholder Sells 5,051,886 Shares of Stock (BaseballDailyDigest.com)
Telaria Inc (NYSE:TLRA) major shareholder W Capital Partners Ii L.P. sold 5,051,886 shares of the company’s stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $2.53, for a total transaction of $12,781,271.58. The sale was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: TETRA Technologies, Inc. (NYSE:TTI) Director Buys 100,000 Shares of Stock (FairFieldCurrent.com)
TETRA Technologies, Inc. (NYSE:TTI) Director Thomas R. Bates, Jr. purchased 100,000 shares of the stock in a transaction dated Wednesday, December 26th. The stock was bought at an average cost of $1.34 per share, with a total value of $134,000.00. Following the transaction, the director now owns 243,044 shares in the company, valued at $325,678.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.