Hedge Fund and Insider Trading News: Dan Loeb, ValueAct Capital Management, Oracle Corporation (ORCL), Carvana Co. (CVNA), and More

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Dan Loeb Adds Short Bets That Stocks May ‘Materially Underperform’ (Bloomberg)
Billionaire investor Dan Loeb said he’s increasing his short bets in anticipation of more market disruption. It’s a good time for us to “have more balance on the short side,” Loeb said Thursday on an earnings conference call for his Third Point Reinsurance Ltd., where he oversees investments. Loeb added that he sees more opportunities to find companies that will “go down or materially underperform the rest of the portfolio.” Hedge fund managers have been waiting for a return of volatility to exploit price movements after several years of calm markets. Loeb’s response has been to add to his hedge fund’s equity short portfolio, he said on the call.

Activist ValueAct Takes Stake in Wood Pellet Manufacturer Enviva (Bloomberg)
Jeff Ubben’s activist fund ValueAct Capital Management has built a $20 million stake in wood pellet manufacturer Enviva Partners LP. The San Francisco hedge fund made the investment through its new $250 million environmentally and socially focused fund, Ubben said in an interview. Enviva has a market value of about $772.1 million. “With Enviva, we think we’ve found a jewel because it’s still early days in using wood pellets to reduce coal plant emissions,” Ubben said.

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Citadel Vet Flees Into the Not-At-All Infuriating Arms Of George Soros (DealBreaker)
It turns out that Steve Cohen’s brother-in-law wasn’t the only person shown the door at Citadel’s Aptigon stock-picking unit. About a third of his co-workers also fulfilled their destiny in getting canned or otherwise driven away by Ken Griffin, one of Wall Street’s key rites of passage. And following them was one Lucy DeStefano, Aptigon’s former head of trading, last month. DeStefano, as custom and legal instruments dictate, will now take the better part of year to decompress and deGriffinify. And then, it’s off to Soros Fund Management to help finance the New World Order and duck the flying lamps.

Insider Selling: Oracle Co. (NYSE:ORCL) Insider Sells 57,155 Shares of Stock (LedgerGazette.com)
Oracle Corporation (NYSE:ORCL) insider Thomas Kurian sold 57,155 shares of Oracle stock in a transaction on Monday, April 30th. The shares were sold at an average price of $46.00, for a total value of $2,629,130.00. Following the completion of the transaction, the insider now owns 80,138 shares in the company, valued at $3,686,348. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Insider Selling: Carvana Co. (CVNA) COO Sells 110,000 Shares of Stock (WeekHerald.com)
Carvana Co. (NYSE:CVNA) COO Benjamin E. Huston sold 110,000 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $27.50, for a total transaction of $3,025,000.00. Following the transaction, the chief operating officer now owns 110,000 shares of the company’s stock, valued at $3,025,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission.

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