U.S. Hedge Fund Hudson Bay to Open London Office: Sources (Reuters)
LONDON (Reuters) – U.S. hedge fund Hudson Bay Capital is opening an office in Britain to expand its European trading book, two sources told Reuters on Tuesday. Hudson Bay, which runs $2.8 billion in assets across equity, credit and other assets, has hired a team of three for its new London base and plans to add more staff, the sources with direct knowledge of the matter said. Other U.S. hedge funds are have also increased investment in Europe, including high-profile activists such as Elliott Advisers, amid increased competition and less attractive valuations at home.
Hedge Fund Appaloosa Asks Allergan to Split Chairman: CEO Position (Reuters)
(Reuters) – Billionaire investor David Tepper’s hedge fund Appaloosa Management and Senator Investment Group on Tuesday asked Allergan Plc’s (AGN.N) board to split the office of the chief executive officer and chairman. In May, Appaloosa and two of Tepper’s funds received Federal Trade Commission clearance for the billionaire to become an activist investor in Allergan.
Warren Buffett Likely to Run Berkshire Hathaway Until Age 92: Whitney Tilson (TheStreet)
Warren Buffett isn’t going anywhere anytime soon, says former hedge fund manager and Berkshire Hathaway (BRK.A) (BRK.B) expert Whitney Tilson. “It’s not imminent, I think there is a good chance he is running Berkshire five years from now,” Tilson tells TheStreet. “Mentally he has never been better.” That’s hard to argue with, to be sure. Buffett, 87, and long-time business partner Charlie Munger, 94, are weeks removed from another masterful performance at Berkshire’s annual shareholder meeting. But, Buffett continues to fuel speculation that he is closing in on retirement perhaps sooner than age 92.
Troubled Sears Gets More Time to Pay Back its Loans (CNBC)
Sears Holdings says in a Securities and Exchange Commission filing it has been given two extra years to repay lenders, including its CEO and hedge fund owner Eddie Lampert. In its filing Monday night, the troubled department store chain said it has consolidated three loans, including two real estate loans totaling roughly $320 million and due in July. The new consolidated loan is due in July 2020. Sears said it has about $779 million due in 2020, which is secured by 69 Sears-owned real estate assets.
Insider Buying: Office Depot Inc (ODP) Chairman Acquires 58,800 Shares of Stock (RegistrarJournal.com)
Office Depot Inc (NASDAQ:ODP) Chairman Joseph Vassalluzzo bought 58,800 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was acquired at an average cost of $2.55 per share, for a total transaction of $149,940.00. Following the purchase, the chairman now owns 143,834 shares in the company, valued at approximately $366,776.70. The purchase was disclosed in a legal filing with the SEC.
Insider Selling: Midland States Bancorp (MSBI) Director Sells 43,751 Shares of Stock (StockNewsTimes.com)
Midland States Bancorp (NASDAQ:MSBI) Director R. Robert Funderburg, Jr. sold 43,751 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $31.95, for a total value of $1,397,844.45. The sale was disclosed in a filing with the SEC.
Insider Selling: GenMark Diagnostics, Inc (NASDAQ:GNMK) SVP Sells $163,447.20 in Stock (MaconDaily.com)
GenMark Diagnostics, Inc (NASDAQ:GNMK) SVP Jennifer Anne Williams sold 23,688 shares of GenMark Diagnostics stock in a transaction on Friday, May 18th. The shares were sold at an average price of $6.90, for a total value of $163,447.20. Following the completion of the transaction, the senior vice president now directly owns 197,856 shares of the company’s stock, valued at $1,365,206.40. The sale was disclosed in a legal filing with the SEC.
Insider Buying: WideOpenWest Inc (NYSE:WOW) General Counsel Buys 12,025 Shares of Stock (RegistrarJournal.com)
WideOpenWest Inc (NYSE:WOW) General Counsel Donald Craig Martin purchased 12,025 shares of WideOpenWest stock in a transaction dated Thursday, May 17th. The shares were purchased at an average price of $8.34 per share, with a total value of $100,288.50. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Clean Energy Fuels Corp. (CLNE) CFO Acquires 17,300 Shares of Stock (TheLincolnianOnline.com)
Clean Energy Fuels Corp. (NASDAQ:CLNE) CFO Robert M. Vreeland acquired 17,300 shares of the business’s stock in a transaction dated Friday, May 18th. The shares were acquired at an average cost of $2.32 per share, with a total value of $40,136.00. Following the transaction, the chief financial officer now owns 306,704 shares in the company, valued at $711,553.28. The transaction was disclosed in a legal filing with the SEC.
Insider Buying: Hertz Global Holdings, Inc (NYSE:HTZ) CFO Purchases 15,000 Shares of Stock (TheEnterpriseLeader.com)
Hertz Global Holdings, Inc (NYSE:HTZ) CFO Thomas C. Kennedy bought 15,000 shares of Hertz Global stock in a transaction that occurred on Thursday, May 10th. The shares were acquired at an average cost of $17.22 per share, for a total transaction of $258,300.00. Following the completion of the transaction, the chief financial officer now directly owns 55,376 shares in the company, valued at $953,574.72. The transaction was disclosed in a filing with the SEC.