Elliott Builds Stake in Capgemini’s Takeover Target Altran (Bloomberg)
Elliott Management Corp. has built a position in Altran Technologies SA, the French software company that agreed last month to be acquired by Capgemini SE for 3.6 billion euros ($4 billion). The New York-based hedge fund has bought about 5.1 million equity swaps in Altran through its European subsidiary, Elliott Capital Advisors, according to a regulatory filing on Friday. Elliott doesn’t have any immediate plans to tender the shares that it could acquire via the swaps, it said in the filing.
Real Hedge-Fund Managers Have Some Thoughts on What Epstein Was Actually Doing (NYMag.com)
Long before Jeffrey Epstein pleaded guilty to prostitution charges in Florida more than a decade ago, his fellow Palm Beach resident and hedge-fund manager Douglas Kass was intrigued by the local gossip about his neighbor. “I’m hearing about the parties, hearing about a guy who’s throwing money around,” says Kass, president of Seabreeze Partners Management. While stories about young girls swarming Epstein’s waterfront mansion and the sex parties he hosted for the rich and powerful were the talk of the town, Kass was more focused on how this obscure person, rumored to be managing billions of dollars, had become so wealthy without much of a track record.
US Hedge Fund Amongst Potential Four Seasons Bidders (Care Home Professional)
US hedge fund, Davidson Kempner Capital Management, is among a clutch of investors considering a bid for Four Seasons Healthcare. Sky News revealed the hedge fund was amongst the parties interesting in buying the leading care home provider. The report said the hedge fund, which is the landlord of some Four Seasons properties, would be competing with current Four Seasons creditor H/2 Capital Partners for the bid.
Hedge fund Falcon Edge commits $50 Mn round in Stanza Living (EnTrackr.com)
Student accommodation platform Stanza Living has received a commitment of $50 million in an equity round led by New York-based hedge fund Falcon Edge Capital. As per a Mint report, the startup has received capital commitments from the hedge fund as well as its existing investors driving up its valuation to $300 million. The growing market of student accommodation sees millions of youngsters moving cities every year for education and job opportunities in India. With this investment, the New Delhi based startup yearns to tap this market and reach 1 lakh beds by 2021 as part of its expansion plans.
Some Hedge Funds are Paying Their Interns Massive Salaries (efinancialcareers.com)
If you’re a student with an interest in finance who wants to make some serious money this summer, it seems you should have been interning at a hedge fund. So says Wall Street Oasis’s updated report on hedge fund intern pay. While Wall Street banks pay a ‘mere’ $82k max (pro-rated) for a couple of months over the summer, some of the best known hedge funds are paying six figures, and more. The most generous of them all appears to be D.E. Shaw, which runs a 10-12 week internship program and pays its summer analysts a pro-rated salary of $114k according to WSO. It’s closely followed by Two Sigma, which offers graduate internships across software engineering, quantitative research, business development, strategy, human resources, and its legal teams, and seemingly pays an average of $113k. Citadel‘s interns are on an average of $101k.
United States: Hong Kong Hedge Fund Settles Charges For Exceeding Spot Month Position Limit In Wheat Futures Contracts (Mondaq.com)
A Hong Kong-based hedge fund settled CFTC charges for exceeding the spot month speculative position limit for soft red winter wheat futures contracts. In a related action, the Chicago Mercantile Exchange (“CME”) Business Conduct Committee ordered the hedge fund to pay $166,590 for failing to adequately supervise its employees and agencies. The CFTC recognized the CME’s fine when determining its penalty and settled with the hedge fund for $160,000.
Hedge Fund Execs Convicted of Fraud (Institutional Investor)
Anilesh Ahuja, the founder, chief executive, and chief investment officer of hedge fund Premium Point Investments, and former Premium Point trader Jeremy Shor were convicted on Thursday of charges that they fraudulently inflated the value of investments by more than $100 million. Authorities arrested Ahuja and Shor last May, along with portfolio manager Amin Majidi.
Ares Management Corp (ARES) Co-Founder, CEO & President Michael J Arougheti Sold $7.6 million of Shares (Guru Focus)
Co-Founder, CEO & President of Ares Management Corp (NYSE:ARES) Michael J Arougheti (insider trades) sold 274,712 shares of ARES on 07/11/2019 at an average price of $27.67 a share. The total sale was $7.6 million. Ares Management LP is a global alternative asset manager. It offers its investor a range of investment strategies and seeks to deliver attractive performance to a growing investor base. Ares Management Corp has a market cap of $6.17 billion; its shares were traded at around $28.00 with a P/E ratio of 93.37 and P/S ratio of 2.43. The dividend yield of Ares Management Corp stocks is 4.29%. GuruFocus has detected 2 severe warning signs with Ares Management Corp.
Friday 7/12 Insider Buying Report: PBHC, APVO (Nasdaq.com)
On Wednesday, Pathfinder Bancorp (PBHC)’s First Vice President, Robert G. Butkowski Jr., made a $65,780 purchase of PBHC, buying 4,600 shares at a cost of $14.30 a piece. Pathfinder Bancorp is trading up about 0.3% on the day Friday. Before this latest buy, Butkowski Jr. made one other purchase in the past twelve months, buying $5,754 shares for a cost of $14.00 each. And also on Wednesday, Director Fuad El-hibri bought $16,058 worth of Aptevo Therapeutics (APVO), buying 18,919 shares at a cost of $0.85 a piece. This buy marks the first one filed by El-hibri in the past twelve months. Aptevo Therapeutics is trading up about 0.6% on the day Friday. So far El-hibri is in the green, up about 2.5% on their purchase based on today’s trading high of $0.87.
Atricure Inc (ATRC) President, CEO, & Director Michael H Carrel Sold $800,000 of Shares (Guru Focus)
President, CEO, & Director of Atricure Inc (NASDAQ:ATRC) Michael H Carrel (insider trades) sold 25,000 shares of ATRC on 07/10/2019 at an average price of $32 a share. The total sale was $800,000. AtriCure Inc is a medical device company. It develops, manufactures and sells cardiac surgical ablation systems designed to create precise lesions, scars in cardiac, heart, and tissue. It generates revenue by selling disposable surgical devices. AtriCure Inc has a market cap of $1.24 billion; its shares were traded at around $32.14 with and P/S ratio of 5.42. AtriCure Inc had annual average EBITDA growth of 8.30% over the past five years. GuruFocus has detected 1 severe warning sign with AtriCure Inc.
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Today, the EVP & COO of CarMax (KMX), Edwin Hill, sold shares of KMX for $419.3K. In addition to Edwin Hill, 5 other KMX executives reported Sell trades in the last month. Following Edwin Hill’s last KMX Sell transaction on June 27, 2019, the stock climbed by 0.6%.
Insider Activity: Chief Executive Officer at G III Apparel Group (GIII) Buys $1 Million in Stock (Investors Observer)
Morris Goldfarb, Chief Executive Officer at G III Apparel Group (GIII), bought 40,000 shares of the company’s common stock on Jul 11. At $26.47 per share, Goldfarb paid a total of $1,058,800 for the new shares.