Hedge-Fund Billionaire Bill Ackman Wants to Build a Glass Penthouse that His Angry NYC Neighbors Call a ‘Flying Saucer’ and an ‘Olympian Temple.’ It Looks Like He’ll Get his Way. (Business Insider)
The billionaire hedge-fund manager Bill Ackman wants to build a controversial glass penthouse atop a historic apartment building on New York’s Upper West Side. On Tuesday night, he got one step closer to getting his construction project approved despite outcry from many of his would-be neighbors. After a contentious five-hour public hearing, the Landmarks Preservation Commission told Ackman to come back with revised plans to make the penthouse slightly shorter so it’s less visible from the street, but it indicated that the proposal was “in the right direction.” It was a big win from an agency that requires residents of historic buildings to get permits to change even a window frame.
Opalesque Video: Hedge Fund Star to Launch Authentic Impact Fund (Opalesque)
A London-based provider of ESG data and analytics run by partners who have decades of investment experience is to launch a hedge fund with a negative footprint. Originally created in 2004 by Larry Abele – then co-founder of hedge fund Auriel Capital Management and once named among Institutional Investor’s 20 rising stars in hedge funds – the firm was first known as Auriel Equities. Abele moved on to create Impact Cubed in 2010 while Aspect Capital acquired Auriel Capital Management in 2016. Since inception, Impact Cubed has been focusing on building long-term models based on environmental, social and governance (ESG) data, with special attention to alignment with the United Nations Sustainable Development Goals for 2030.
Hedge Fund IsZo Says Jefferies ‘Hijacked’ Its Brokerage Account (Bloomberg)
Jefferies Group LLC overcharged and then “hijacked” the prime brokerage account of its client IsZo Capital Management, the activist hedge fund claimed in an arbitration filing. The investment bank held back $5 million of IsZo’s money, later reduced to $2.5 million, to secure seven short positions in securities that are now worthless, IsZo claimed in an arbitration claim filed this week with the Financial Industry Regulatory Authority, or Finra.
Thursday 11/18 Insider Buying Report: SRPT, DKNG (Nasdaq.com)
On Wednesday, Sarepta Therapeutics’ CEO, Douglas S. Ingram, made a $2.00M buy of SRPT, purchasing 25,026 shares at a cost of $79.94 a piece. Ingram was up about 3.1% on the buy at the high point of today’s trading session, with SRPT trading as high as $82.44 in trading on Thursday. Sarepta Therapeutics is trading up about 1.9% on the day Thursday. This buy marks the first one filed by Ingram in the past year. And on Tuesday, Director Harry Sloan bought $1.98M worth of DraftKings, buying 50,000 shares at a cost of $39.52 a piece. DraftKings is trading off about 1.7% on the day Thursday. Bargain hunters have the opportunity to buy DKNG even cheaper than Sloan did, with shares changing hands as low as $37.21 at last check today which is 5.8% below Sloan’s purchase price.
Tabula Rasa Healthcare Insider Trades $3.0M In Company Stock (Benzinga)
Orsula Knowlton V, Insider at Tabula Rasa Healthcare (NASDAQ:TRHC), made a large insider sell on November 17, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that V sold 230,000 shares of Tabula Rasa Healthcare at prices ranging from $12.63 to $13.54. The total transaction amounted to $2,982,950.
A Director at Standex International (NYSE: SXI) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Standex International (SXI), Charles Cannon, sold shares of SXI for $1.08M. Following Charles Cannon’s last SXI Sell transaction on September 10, 2018, the stock climbed by 9.9%. In addition to Charles Cannon, 5 other SXI executives reported Sell trades in the last month. Based on Standex International’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $176 million and quarterly net profit of $15.82 million.
