Atlantic Investment Pushes Owens Illinois to Sell European Business (Reuters)
NEW YORK (Reuters) – Atlantic Investment Management on Friday urged glass container maker Owens Illinois to sell its European business and use the proceeds to buy back shares and pay down debt. The New York-based hedge fund, which owns a 5.93 percent stake, warned that the company is vulnerable to an unwanted takeover bid and said management should hire a financial advisor to “explore the sale of the European business.” “We expect the proceeds should be in the $3.2 billion to $3.8 billion range,” Alexander Roepers, Atlantic’s president and chief investment officer wrote in a letter to the board. The letter was released in a public filing.
Billionaire Ray Dalio Remembers the Moment he Saw the Financial Crisis Coming: ‘This is the Big One’ (CNBC)
On July 17, 2007, investment bank Bear Stearns revealed that two of its hedge funds, which held significant investments in subprime mortgages, had “very little value” left. By August, the billionaire founder of hedge fund Bridgewater Associates, Ray Dalio, realized the U.S. was in a dire situation. So bad in fact, he sent out a memo to clients and policy makers on August 10, 2007 titled, “This is the Big One.” “That was when it really dawned on me,” Dalio tells CNBC Make It. “We’re going to be headed over a waterfall, and how do I handle that responsibly?”
David Tepper: I was at a Jets Game When Lehman Went Under, Thinking ‘World was Going to End’ (CNBC)
Appaloosa Management‘s David Tepper thought the banking system would implode during the financial crisis a decade ago. This week marks the 10th anniversary of Lehman Brothers’ bankruptcy, which many investors regard as the seminal event of the financial crisis. “I was at a Jets game … Lehman just went down and then I was just trying to figure it out, I thought it would domino out … Merrill would go, then just going down the line, Morgan Stanley would go, then Goldman would go,” he said in an interview with CNBC’s “Halftime Report” aired on Friday. “That was when I thought the world was going to end.”
Citadel Adds to Surveyor Long/Short Equity Team (PIOnline.com)
Andrew Liebeskind joined hedge fund manager Citadel as a senior trader on the firm’s Surveyor Capital long/short market-neutral equity team. He will report to Carl Simon, head of trading for Surveyor Capital, company spokesman Zia Ahmed said in an email. Mr. Liebeskind’s position is new. The Surveyor team’s strategies are used in Citadel’s multistrategy hedge funds, including its flagship Wellington fund.
Insider Buying: Ballantyne Strong Inc (BTN) Director Purchases $2,735,509.30 in Stock (FairFieldCurrent.com)
Ballantyne Strong Inc (NYSEAMERICAN:BTN) Director Global Investors Fundamental acquired 692,534 shares of Ballantyne Strong stock in a transaction on Sunday, September 9th. The stock was acquired at an average cost of $3.95 per share, for a total transaction of $2,735,509.30. The purchase was disclosed in a filing with the SEC.
Insider Buying: Sigma Labs Inc. Common Stock (SGLB) Major Shareholder Buys 500,000 Shares of Stock (XNewsPress.com)
Sigma Labs Inc. Common Stock (NASDAQ:SGLB) major shareholder Carl I. Schwartz bought 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was purchased at an average price of $1.00 per share, for a total transaction of $500,000.00. The purchase was disclosed in a document filed with the SEC.
Insider Selling: Vonage Holdings Corp. (VG) Director Sells 233,332 Shares of Stock (WeekHerald.com)
Vonage Holdings Corp. (NYSE:VG) Director Jeffrey A. Citron sold 233,332 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $14.43, for a total value of $3,366,980.76. Following the sale, the director now directly owns 10,650,784 shares in the company, valued at approximately $153,690,813.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Buying: Bridge Bancorp, Inc. (BDGE) Insider Buys 49,891 Shares of Stock (MaconDaily.com)
Bridge Bancorp, Inc. (NASDAQ:BDGE) insider Basswood Capital Management, L bought 49,891 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was acquired at an average price of $35.75 per share, for a total transaction of $1,783,603.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Alta Mesa Resources Inc (NASDAQ:AMR) Director Buys 3,400,800 Shares of Stock (XNewsPress.com)
Alta Mesa Resources Inc (NASDAQ:AMR) Director Bayou City Energy Management L bought 3,400,800 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was acquired at an average cost of $4.34 per share, for a total transaction of $14,759,472.00. The acquisition was disclosed in a legal filing with the SEC.
Insider Buying: Keurig Dr Pepper Inc (KDP) Insider Purchases 49,638 Shares of Stock (FairFieldCurrent.com)
Keurig Dr Pepper Inc (NYSE:KDP) insider Maria A. Sceppaguercio-Gever bought 49,638 shares of Keurig Dr Pepper stock in a transaction that occurred on Thursday, September 13th. The shares were bought at an average cost of $23.91 per share, with a total value of $1,186,844.58. The purchase was disclosed in a legal filing with the SEC.