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Hedge Fund and Insider Trading News: Crispin Odey, Davidson Kempner, FACT Capital, Broadcom Inc (AVGO), S&P Global Inc (SPGI), and More

As Far As We (And Presumably Steve Cohen) Are Concerned, It Took Two-And-A-Half Years Longer Than It Should Have To Raise $10 Billion (Deal Breaker)
Shortly after his return to managing outside capital after an unpleasant two-year insider-trading time out, Steve Cohen modestly noted that raising it hadn’t required much of him. “It was really easy,” he said. By most people’s standard, sure: Cohen had managed to garner $5 billion in less than a year. But to get it, he’d had to humiliatingly prostrate himself, cutting fees and lockups periods. And even then, it was a far cry from the $10 billion he’d hoped would greet him on the lawn at 72 Cummings Point Road within minutes of midnight on Jan. 1, 2018.

From Mainstream to Niche: How Energy Specialist Hedge Fund HITE is Thriving with Bearish Carbon Outlook (Hedge Week)
Established in 2004, HITE Hedge Asset Management is an alpha-focused energy specialist hedge fund firm which trades a range of energy-related securities throughout the entire carbon value chain. The Quincy, Massachusetts-based outfit’s approach comprises two main strategies: a long-running market neutral, pure alpha-focused, relative value product, which represents around 80 per cent of the firm’s total AUM of USD500 million, and a newer thematic, its short carbon strategy, which launched in 2018.

Broadcom Inc (AVGO) President and CEO Hock E Tan Sold $17.6 million of Shares (Guru Focus)
President and CEO of Broadcom Inc., Hock E Tan, sold 57,171 shares of AVGO on 07/28/2020 at an average price of $308.49 a share. The total sale was $17.6 million. Broadcom Inc is engaged in designing, developing and supplying analog and digital semiconductor connectivity solutions. Its product portfolio serves wired infrastructure, wireless communications, enterprise storage and industrial and other end markets.

Friday 7/31 Insider Buying Report: SYF, TACO (Nasdaq.com)
At Synchrony Financial, a filing with the SEC revealed that on Tuesday, Director P.W. Parker bought 10,000 shares of SYF, for a cost of $23.32 each, for a total investment of $233,200. Bargain hunters can grab SYF at a price even lower than Parker did, with the stock changing hands as low as $22.78 in trading on Friday which is 2.3% below Parker’s purchase price. Synchrony Financial is trading off about 0.5% on the day Friday. This buy marks the first one filed by Parker in the past year. And on Wednesday, Director Ari B. Levy purchased $184,305 worth of Del Taco Restaurants, purchasing 24,900 shares at a cost of $7.40 each. Before this latest buy, Levy made one other purchase in the past year, buying $606,304 shares at a cost of $2.64 each. Del Taco Restaurants Inc is trading up about 1.4% on the day Friday.

What Did This CEO Just Do with Personal Shares of S&P Global (NYSE: SPGI)? (Analyst Ratings)
Yesterday, the CEO & President of S&P Global (SPGI), Douglas Peterson, sold shares of SPGI for $10.54M. Following Douglas Peterson’s last SPGI Sell transaction on November 16, 2017, the stock climbed by 196.6%. In addition to Douglas Peterson, one other SPGI executive reported Sell trades in the last month.

Autonation Inc (AN) Chairman and CEO Michael J Jackson Sold $5 million of Shares (Guru Focus)
Chairman and CEO of Autonation Inc., Michael J Jackson, sold 90,819 shares of AN on 07/28/2020 at an average price of $54.97 a share. The total sale was $5 million. AutoNation Inc is an automotive retailer in the United States. The company offers all types of automotive products and services, including new vehicles, used vehicles, parts and accessories, automotive services, automotive finance and insurance products.