What Hedge Funds Have Been Buying—and Selling (Barron’s)
Hedge funds tilted toward growth sectors and away from cyclical and value-oriented areas of the market during last year’s fourth quarter, setting them up for a strong start to 2023. The Russell 3000 GrowthRAG –1.76% index has added more than 7% year to date, versus a 2% rise for the value subset of the index. “Funds increased their net tilt to Consumer Discretionary by [3.3 percentage points], the largest change in any sector, and also lifted exposures to Communication Services and Info Tech” in the fourth quarter, Goldman Sachs strategist Ben Snider wrote this past week. “In contrast, hedge funds cut net tilts to Energy, Industrials, Materials, and Financials.”
Hedge Fund Schonfeld Doubles Miami Footprint (Commercial Observer)
Schonfeld Strategic Advisors is doubling its Miami office. The New York-based hedge fund finalized a 10-year-long lease to add a second floor at The Dorsey, a mixed-use property in Wynwood, bringing its full footprint to 37,000 square feet, according to the building’s developers. The investment firm, which has $22 billion in assets, first inked a deal at the property in 2021, taking 18,000 square feet. The second floor is scheduled to open by the end of the year.
Hedge Fund Executive Ozer Pays $32 Million for Miami Beach Mansion (Photos) (BizJournals.com)
A trust in the name of Ron Ozer, the chief investment officer of Miami-based hedge fund Statar Capital, paid $32 million for a new spec mansion in Miami Beach. According to the brokers, the sale was a record price for Palm Island, which is located just north of the MacArthur Causeway. Spec home developer William Campbell sold the 14,000-square-foot home at 158 Palm Ave. Lourdes Alatriste with Douglas Elliman represented the seller in the deal, while David Pullman with the Waterfront Team at One Sotheby’s International Realty worked with the buyer.
Friday 2/24 Insider Buying Report: LNKB, VNRX (Nasdaq.com)
On Tuesday, LINKBANCORP’s Director, David H. Koppenhaver, made a $800,023 buy of LNKB, purchasing 102,567 shares at a cost of $7.80 each. So far Koppenhaver is in the green, up about 3.8% on their purchase based on today’s trading high of $8.10. LINKBANCORP is trading up about 1.7% on the day Friday. Before this latest buy, Koppenhaver made one other buy in the past twelve months, purchasing $750,000 shares at a cost of $7.50 a piece. And at VolitionRx, there was insider buying on Wednesday, by Guy Archibald Innes who bought 234,000 shares at a cost of $1.75 each, for a trade totaling $409,500. Before this latest buy, Innes made one other purchase in the past year, buying $23,700 shares at a cost of $2.37 each. VolitionRx is trading down about 1.1% on the day Friday. So far Innes is in the green, up about 6.9% on their purchase based on today’s trading high of $1.87.
Walmart, Amazon And 2 Other Stocks Insiders Are Selling (Benzinga)
Walmart: The Trade: Walmart Inc (WMT) President and CEO Douglas McMillon sold a total of 9,708 shares at an average price of $142.37. The insider received around $1.38 million from selling those shares. Henry Schein: The Trade: Henry Schein, Inc. (HSIC) Director Bradley T Sheares sold a total of 11,243 shares at an average price of $82.07. The insider received around $922.71 thousand from selling those shares.
