BlueMountain Hedge Fund Recruits Financials Manager (FNLondon.com)
BlueMountain Capital Management, a $21bn New York hedge fund that is expanding its equities strategies, has recruited a portfolio manager from a rival to run its investments in financial stocks. Mahmood Reza, a partner at Omega Advisors who started out as a financials analyst at JPMorgan, joined BlueMountain on July 9, the firm said in a statement. He reports to Lance Rosen, who arrived as BlueMountain’s new head of equities last year. BlueMountain describes itself as a “diversified alternative asset management firm” and offers a range of investment funds, but most of its expertise is concentrated in long-short credit and various kinds of financial arbitrage, and a suite of “structured credit” strategies including mortgages, real estate and asset-backed securities.
Steve Cohen’s Hedge Fund Gains About 7% in First Half (Bloomberg)
Point72 Asset Management, the hedge fund run by Steve Cohen, returned about 7 percent in the first half of the year, according to people familiar with the matter. The Stamford, Connecticut-based firm was about flat in June, the people said. A spokesman for Point72 declined to comment.
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Scaramucci’s Path to $20 Billion Runs Through a Hot China Market (Bloomberg)
Anthony Scaramucci says he wants to double the size of SkyBridge Capital in five years. An investment offering that most of the world has shunned is suddenly all the rage in China, and money managers from UBS Group AG to SkyBridge Capital are moving to grab a slice of the bounty. Funds of hedge funds, which allocate client money across multiple managers, are opening at a record pace in Asia’s largest economy even as their numbers dwindle globally after 10 straight years of outflows. While investors in the U.S. and Europe have grown disillusioned with the funds’ fees and spotty performance, China’s rich are looking past those concerns as they hunt for alternatives to increasingly risky domestic asset-management products.
Och-Ziff A Little To Eager To Settle African Bribery Charges (DealBreaker)
Generally speaking, when a major hedge fund that is also a publicly-traded corporation finds itself on the wrong side of regulators for allegedly bribing an entire continent, it is best to nip things in the bud. This is what Och-Ziff Capital Management did when faced with accusations that its top men in Europe and Africa were liberally lubricating African officials in exchange for investment mandates, mining rights and more mining rights. In fact, the hedge fund couldn’t cut a deal fast enough, finally reaching a $400 million accord with the SEC and Justice Department in September of 2016.
Copart, Inc. (CPRT) Insider William E. Franklin Sells 90,000 Shares (FairFieldCurrent.com)
Copart, Inc. (NASDAQ:CPRT) insider William E. Franklin sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $58.94, for a total transaction of $5,304,600.00. Following the sale, the insider now directly owns 107,462 shares of the company’s stock, valued at approximately $6,333,810.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Insider Selling: Planet Fitness Inc (PLNT) CEO Sells 20,000 Shares of Stock (MareaInformativa.com)
Planet Fitness Inc (NYSE:PLNT) CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction dated Thursday, July 12th. The stock was sold at an average price of $46.65, for a total transaction of $933,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Insider Buying: IntelGenx Technologies Corp. (IGXT) CFO Buys $11,780.00 in Stock (LedgerGazette.com)
IntelGenx Technologies Corp. (OTCMKTS:IGXT) CFO Andre Godin acquired 15,500 shares of the business’s stock in a transaction that occurred on Thursday, July 12th. The shares were purchased at an average price of $0.76 per share, with a total value of $11,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: Delta Air Lines, Inc. (DAL) COO Sells 15,000 Shares of Stock (FairFieldCurrent.com)
Delta Air Lines, Inc. (NYSE:DAL) COO W Gilbert West sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $50.47, for a total value of $757,050.00. Following the completion of the transaction, the chief operating officer now owns 104,447 shares of the company’s stock, valued at approximately $5,271,440.09. The sale was disclosed in a document filed with the SEC.
Insider Selling: salesforce.com, inc. (CRM) Chairman Sells 10,000 Shares of Stock (BaseballDailyDigest.com)
salesforce.com, inc. (NYSE:CRM) Chairman Marc Benioff sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $147.34, for a total transaction of $1,473,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission.
Insider Selling: K12 Inc. (LRN) General Counsel Sells 18,838 Shares of Stock (FairFieldCurrent.com)
K12 Inc. (NYSE:LRN) General Counsel Howard D. Polsky sold 18,838 shares of the firm’s stock in a transaction dated Friday, July 13th. The stock was sold at an average price of $17.76, for a total transaction of $334,562.88. Following the completion of the sale, the general counsel now directly owns 100,842 shares of the company’s stock, valued at $1,790,953.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
