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Hedge Fund and Insider Trading News: David Tepper, Nelson Peltz, Jana Partners, O’Reilly Automotive Inc (ORLY), Famous Dave’s of America, Inc. (DAVE), American Homes 4 Rent (AMH), and More

Billionaire Hedge Fund Manager David Tepper Reportedly Close to Finalizing Deal for Carolina Panthers at Record Price (CNBC)
Billionaire hedge fund manager David Tepper is close to finalizing a deal for the NFL’s Carolina Panthers, according to the NFL Network and ESPN. The deal would transfer ownership from Jerry Richardson, who put the Panthers up for sale following accusations of sexual misconduct and using racial language at work. Tepper is founder and president of Appaloosa Management. The hedge fund has earned Tepper billions, with Forbes estimating his net worth at more than $11 billion.

Nelson Peltz Is In a League of His Own When it Comes to Activist Investing (TheStreet)
When it comes to activist investing, Nelson Peltz, and Trian Fund Management LLC have managed to set themselves apart from the pack. Peltz, who will keynote at The Deal’s 2018 Corporate Governance conference on June 7, gained credibility among the institutional investor class following his acquisition and turnaround of Snapple Beverage Group in the late 1990s. The move has imprinted Peltz, and Trian with the ‘operational activist’ moniker and set the investor apart from ‘financial activist’ funds, often hedge funds without operational backgrounds which focus on balance sheet initiatives such as hiking leverage and making capital distributions.

Insider Trading Wall Street Trader Panic

Luis Louro / shutterstock.com

Hedge Fund Focused on Fighting Tech Addiction Dumps $80 million Worth of Facebook (CNBC)
A hedge fund that’s spoken out against iPhone addiction sold all its holdings of Facebook shares in the first quarter, while taking a new stake in Apple. Jana Partners sold 474,000 shares of Facebook, according to a required quarterly filing with the U.S. Securities and Exchange Commission on Tuesday. The data reflects changes made at some point in the first quarter. It is not known whether Jana sold out before Facebook dropped more than 20 percent after revealing a consumer data scandal affected 87 million accounts. As of the end of December, Jana’s Facebook stake was worth $84 million.

Bill Ackman’s Big Deals Don’t Look Better in Hindsight (Bloomberg)
Scott Wapner is an on-air personality for CNBC who, in addition to hosting a midday show, makes it a point to be in constant touch with the big shareholder activists who bestride Wall Street. To judge from the evidence in his newly published book, “When the Wolves Bite,” 1 Wapner has their phone numbers at his fingertips, and can get a near instantaneous reaction from them when something newsworthy takes place. Most important for a CNBC journalist, he can get them to appear on his show from time to time. All of which is to say that it’s not in Wapner’s best interest to say anything unflattering about the hedge-fund big shots he covers. He needs them a lot more than they need him. Yet I don’t think I’ve ever read as devastating a portrait of a professional investor as Wapner’s portrayal of Bill Ackman in “When the Wolves Bite.” It’s completely unwitting – which makes it all the more powerful.

NYC Hedge Fund Eyes Its Next Distressed-Debt Target: Bahrain (Bloomberg)
Greylock Capital Management LLC, a hedge fund that holds the distressed bonds of Mozambique and Venezuela, says Bahrain is its next potential target. The cash-strapped Gulf nation has been slow to implement reforms compared with its richer neighbors, including Saudi Arabia, after the slide in oil prices that began in 2014 eroded their wealth. Bahrain will have to revive its financial fortunes to prevent its debt from slumping to distressed levels, according to Bashar Zakaria at the California Public Employees’ Retirement System, the largest U.S. pension fund.

Insider Selling: O’Reilly Auto Parts (NASDAQ:ORLY) CEO Sells 46,524 Shares of Stock (LedgerGazette.com)
O’Reilly Automotive Inc (NASDAQ:ORLY) CEO Gregory L. Henslee sold 46,524 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $261.01, for a total value of $12,143,229.24. Following the transaction, the chief executive officer now owns 55,326 shares of the company’s stock, valued at approximately $14,440,639.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Insider Buying: Famous Dave’s (DAVE) Insider Acquires 20,309 Shares of Stock (RegistrarJournal.com)
Famous Dave’s of America, Inc. (NASDAQ:DAVE) insider David Kanen purchased 20,309 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was acquired at an average cost of $7.71 per share, with a total value of $156,582.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Insider Buying: American Homes 4 Rent (AMH) Director Buys 242,223 Shares of Stock (TheLincolnianOnline.com)
American Homes 4 Rent (NYSE:AMH) Director B Wayne Et Al Hughes purchased 242,223 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $20.64 per share, with a total value of $4,999,482.72. The transaction was disclosed in a document filed with the SEC.

Insider Selling: Moelis & Company (MC) CEO Sells 20,870 Shares of Stock (LedgerGazette.com)
Moelis & Co (NYSE:MC) CEO Kenneth Moelis sold 20,870 shares of the business’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $54.02, for a total transaction of $1,127,397.40. Following the transaction, the chief executive officer now directly owns 26,609 shares in the company, valued at approximately $1,437,418.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Insider Buying: Danielson Holding Co. (CVA) Insider Purchases 15,000 Shares of Stock (RegistrarJournal.com)
Danielson Holding Co. (NYSE:CVA) insider Stephen J. Jones bought 15,000 shares of the stock in a transaction on Thursday, May 3rd. The shares were bought at an average price of $15.20 per share, for a total transaction of $228,000.00. Following the acquisition, the insider now owns 241,057 shares in the company, valued at approximately $3,664,066.40. The purchase was disclosed in a filing with the Securities & Exchange Commission.

Insider Selling: Sirius XM Holdings (NASDAQ:SIRI) CFO Sells 725,350 Shares of Stock (StockNewsTimes.com)
Sirius XM Holdings Inc (NASDAQ:SIRI) CFO David J. Frear sold 725,350 shares of Sirius XM stock in a transaction on Friday, May 4th. The shares were sold at an average price of $6.56, for a total value of $4,758,296.00. Following the transaction, the chief financial officer now owns 1,508,371 shares in the company, valued at $9,894,913.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.