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Hedge Fund and Insider Trading News: Glenview Capital, Elliott Management, CASI Pharmaceuticals Inc (CASI), ANGI Homeservices Inc (ANGI), Trinity Industries Inc (TRN), and More

Tenet Wins Investor Glenview’s Support for Board Nominations (Reuters)
(Reuters) – Tenet Healthcare Corporation (THC.N) said on Monday it reached an agreement with its largest shareholder Glenview Capital Management to vote in favor of the hospital operator’s board nominees. Hedge fund Glenview has nearly 18 percent stake and has withdrawn its proposal made in February to amend Tenet’s bylaws that would allow shareholders to take action by written consent without a meeting, the company said. Last year, Glenview pulled off its two representatives from the board, citing “irreconcilable differences” over strategy.

Elliott Says Could Buy Travelport, Buys 12 percent Stake (Reuters)
(Reuters) – Activist hedge fund Elliott Management Corp on Monday asked Travelport Worldwide Ltd (TVPT.N) to pursue a sale and said it could be a potential buyer as it disclosed a nearly 12 percent stake in the travel software company. The move is the latest example of how Elliott uses its private equity arm, Evergreen Coast Capital Partners, to pressure companies to explore a sale. Elliott successfully used the strategy on LifeLock, which was later sold to Symantec Corp (SYMC.O). Elliott will encourage Travelport to launch the sale process and seek to participate, the fund said on Monday in a filing with the U.S. Securities and Exchange Commission.

Insider Trading Back

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Pershing Square Picks Heavyweight Non-Executive Directors (FNLondon.com)

Pershing Square Holdings, the listed hedge fund led by activist investor Bill Ackman, is to recommend shareholders appoint two financial heavyweights to its board, as it struggles with prolonged underperformance. In a statement, the fund said it would propose Bronwyn Curtis and Richard Wohanka for nomination at the company annual general meeting in Guernsey next month. Curtis held senior positions at HSBC from 2008 to 2012, where she managed its global research operations and portfolio, including economic, fixed income, foreign exchange and equity products.

Remington: US Gunmaker Files for Bankruptcy Amid ‘Trump Slump’ (The Guardian)
Remington Outdoor, one of the US’s biggest gunmakers, has filed for bankruptcy protection as it struggles against a mountain of debts and falling sales. The 202-year-old company, which made the Bushmaster AR-15-style rifle used in the Sandy Hook shooting in Connecticut that left 20 first-graders and six teachers dead, filed for chapter 11 protection in Delaware bankruptcy court on Sunday. The official filing came during a weekend of March For Our Lives protests across the US of children calling for greater gun control laws after 17 deaths in a school shooting in Parkland, Florida. Remington, which is owned by the Cerberus Capital Management hedge fund, said it had debts of between $100m-$500m (£70m-£352m) and estimated that its assets were worth about the same amount. The company plans to reduce its debts by transferring control of the firm to its creditors.

Alden Global Capital’s Business Model Destroys Newspapers for Little Gain (Bloomberg)
In 2007, Smith started Alden Global Capital LLC, installing Freeman as president. The firm and its president have since become notorious as a destroyer of newspapers. In 2010, Alden Global acquired out of bankruptcy MediaNews Group Inc., the newspaper empire William Dean Singleton had built, which included such prominent regional papers as the Denver Post, the Salt Lake City Tribune and the St. Paul Pioneer Press. According to its website, the company, now named Digital First Media, has grown to 97 newspapers. It is no secret that the newspaper business is in decline. So it’s hardly surprising that Freeman would feel the need to shrink the head count at his newspapers, just as almost every other newspaper owner has had to do for years.

Insider Buying: CASI Pharmaceuticals Inc (CASI) Major Shareholder Purchases $9,845,673.42 in Stock (TheLincolnianOnline.com)
CASI Pharmaceuticals Inc (NASDAQ:CASI) major shareholder China Growth Fund Idg-Accel II acquired 3,086,418 shares of the company’s stock in a transaction dated Wednesday, March 21st. The stock was purchased at an average cost of $3.19 per share, for a total transaction of $9,845,673.42. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insider Buying: ANGI Homeservices Inc (ANGI) Major Shareholder Buys 577,800 Shares of Stock (LedgerGazette.com)
ANGI Homeservices Inc (NASDAQ:ANGI) major shareholder Luxor Capital Group, Lp purchased 577,800 shares of the stock in a transaction dated Wednesday, March 7th. The stock was purchased at an average price of $15.30 per share, for a total transaction of $8,840,340.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Insider Buying: Trinity Industries Inc (NYSE:TRN) Major Shareholder Acquires 306,343 Shares of Stock (RegistrarJournal.com)
Trinity Industries Inc (NYSE:TRN) major shareholder Valueact Capital Master Fund, acquired 306,343 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were purchased at an average price of $32.99 per share, with a total value of $10,106,255.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.

Insider Buying: Black Stone Minerals LP (NYSE:BSM) CEO Buys 14,240 Shares of Stock (StockNewsTimes.com)
Black Stone Minerals LP (NYSE:BSM) CEO Thomas L. Carter, Jr. bought 14,240 shares of Black Stone Minerals stock in a transaction on Thursday, March 1st. The shares were acquired at an average price of $17.26 per share, for a total transaction of $245,782.40. Following the completion of the acquisition, the chief executive officer now owns 972,182 shares of the company’s stock, valued at approximately $16,779,861.32. The acquisition was disclosed in a legal filing with the SEC.

Insider Buying: Dollar Tree, Inc. (NASDAQ:DLTR) Director Purchases 10,000 Shares of Stock (StockNewsTimes.com)
Dollar Tree, Inc. (NASDAQ:DLTR) Director Conrad M. Hall acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $91.83 per share, with a total value of $918,300.00. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at $73,372.17. The purchase was disclosed in a filing with the SEC.

Insider Buying: J.Jill Inc (JILL) Director Purchases $45,300.00 in Stock (LedgerGazette.com)
J.Jill Inc (NYSE:JILL) Director Michael A. Eck bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was purchased at an average cost of $4.53 per share, with a total value of $45,300.00. Following the completion of the transaction, the director now owns 22,707 shares in the company, valued at $102,862.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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