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Hedge Fund and Insider Trading News: Fir Tree, Point72 Asset Management L.P., Groupon Inc (GRPN), Magnachip Semiconductor Corp (MX), Novation Companies Inc (NOVC), and More

A Hedge Fund Makes Billions Off Americans’ Underwater Mortgages (The Wall Street Journal)
Fortunes were made on Wall Street betting against sketchy mortgages before the housing bust a decade ago. In its aftermath, one firm has made billions taking the other side of that trade, scooping up battered home loans in a wager that plenty of Americans would keep paying them. The payoff, years in the making for hedge-fund firm Fir Tree, is $2.6 billion and counting, according to an investor letter reviewed by The Wall Street Journal.

Point72 Asset Management L.P. Has $3.35 Million Holdings in Axon Enterprise Inc (AAXN) (FairFieldCurrent.com)
Point72 Asset Management L.P. grew its position in shares of Axon Enterprise Inc (NASDAQ:AAXN) by 200.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,900 shares of the industrial products company’s stock after acquiring an additional 32,600 shares during the quarter. Point72 Asset Management L.P. owned 0.08% of Axon Enterprise worth $3,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Insider Trading Wall Street Trader Panic

Luis Louro / shutterstock.com

Insider Buying: Destination XL Group Inc (NASDAQ:DXLG) Major Shareholder Purchases 55,500 Shares of Stock (ModernReaders.com)
Destination XL Group Inc (NASDAQ:DXLG) major shareholder Cannell Capital LLC bought 55,500 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average cost of $2.42 per share, with a total value of $134,310.00. The transaction was disclosed in a document filed with the SEC.

Renaissance Technologies LLC Has $21.84 Million Position in Parsley Energy Inc (PE) (FairFieldCurrent.com)
Renaissance Technologies LLC cut its stake in Parsley Energy Inc (NYSE:PE) by 17.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 746,800 shares of the oil and natural gas company’s stock after selling 155,700 shares during the period. Renaissance Technologies LLC owned 0.24% of Parsley Energy worth $21,844,000 at the end of the most recent quarter.

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