Braced for Turbulence (Hedge Nordic)
Stockholm (HedgeNordic) – The sell-off in stocks across the globe has taken a pause after several days of heavy losses caused by investor concerns around the possible economic damage from the spread of the coronavirus. “The markets will be controlled by the news about the virus in the coming weeks,” Fredrik Tauson, Portfolio Manager and Founding Partner at Stockholm-based Nordic Cross Asset Management, tells Swedish newspaper Realtid. Tauson, a member of the Nordic Cross team mainly focusing on credit markets, tells Realtid that “based on what we know today, the coronavirus will impact operating and financial results for the first quarter and a bit into the second quarter.” He also reckons that “several companies will probably take the opportunity to blame weak figures on the virus effects.” Whereas markets are expected to be dominated by virus headlines and news, Tauson expects “a quick rebound in the world’s stock markets if we see a slowing rate of growth in the number of infections.”
Hedge Funds Off to a Weak 2020 Start as COVID-19 Outbreak Weighs on Global Growth Outlook (Hedge Week)
Hedge fund managers returned 0.07 per cent in January 2020, recording their weakest January since 2016, according to data released by Eurekahedge. The escalation of the COVID-19 outbreak which originated in China exerted pressure on the market risk sentiment throughout the latter half of the month, pushing the global equity market into negative territory. Returns were mixed across geographic mandates, with Asian fund managers bearing the brunt of the equity market sell-off, losing 0.56 per cent in January. Approximately 57.7 per cent of the hedge fund managers tracked by Eurekahedge have generated positive returns in January.
Thursday 2/27 Insider Buying Report: SIX, NREF (Nasdaq.com)
At Six Flags Entertainment, a filing with the SEC revealed that on Monday, President, CEO Mike Spanos bought 16,075 shares of SIX, at a cost of $31.27 each, for a total investment of $502,638. Investors have the opportunity to buy SIX at a price even lower than Spanos did, with the stock trading as low as $24.91 in trading on Thursday — that’s 20.3% below Spanos’s purchase price. Six Flags Entertainment is trading off about 0.1% on the day Thursday. Before this latest buy, Spanos made one other purchase in the past year, buying $500,742 shares for a cost of $45.73 each. And on Tuesday, See Remarks Matthew Goetz purchased $381,092 worth of NexPoint Real Estate Finance, purchasing 20,073 shares at a cost of $18.99 a piece. NexPoint Real Estate Finance is trading down about 0.7% on the day Thursday.
Southern National Bancorp Of Virginia Inc (SONA) President & CEO Dennis J Jr Zember Bought $227,100 of Shares (Guru Focus)
President & CEO of Southern National Bancorp Of Virginia Inc., Dennis J Jr Zember, bought 15,000 shares of SONA on 02/26/2020 at an average price of $15.14 a share. The total cost of this purchase was $227,100. Southern National Bancorp of Virginia Inc is the bank holding company for Sonabank. It offers savings accounts, money market accounts, commercial real estate loans, construction to permanent loans, development and builder loans, among others.
The CEO of Cinemark Holdings (NYSE: CNK) is Buying Shares (Analyst Ratings)
Today, the CEO of Cinemark Holdings (CNK), Mark Zoradi, bought shares of CNK for $541.9K. Following this transaction Mark Zoradi’s holding in the company was increased by 3.59% to a total of $14.97 million. In addition to Mark Zoradi, one other CNK executive reported Buy trades in the last month.
