Secret Recording, Fallen Stock Stoke Hedge Fund’s Deal Fight (BloombergQuint)
(Bloomberg) — Hedge fund manager Jason Mudrick was already thinking about suing Globalstar Inc. in late April when he flew to Louisiana to meet with the satellite company’s chief executive officer. Globalstar had just announced it was essentially buying assets controlled by its CEO, James Monroe III, in a $1.65 billion deal. Mudrick, the company’s biggest outside shareholder, thought the satellite communications provider was overpaying in the deal and stripping value from outside shareholders like himself.
Billionaire Investor Quietly Buying Restaurant Brands International Inc (Seeking Alpha)
No doubt, Ken Griffin is one of the best stock-pickers on Earth. At the age of 22, Griffin founded his first hedge fund Citadel LLC. By 34, he was the youngest self-made individual on the Forbes list of richest people in the world. Thanks to that type of performance, Griffin has earned a place among investing legends like Warren Buffett, George Soros, and Julian Robertson. For these reasons, I always pay close attention to what stocks Griffin is buying. And right now, he’s making some interesting bets on the fast food industry: a 4.6 million share purchase in Restaurant Brands International Inc (NYSE:QSR).
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Carolina Panthers Owner Says Sports Betting Is Bad, Also Thinks It’s Good (TheLines.com)
David Tepper hopes you’re watching his mouth move instead of his hands calling up his ETrade account. (That’s what hedge fund bosses use, right?) Last we heard from the new owner of the Carolina Panthers, Tepper reached into his gut to share a “feeling” that sports betting will drive down NFL TV ratings. That being the case, we can only guess Tepper wants nothing to do with legal sports betting. Gambling clearly is going to hurt the NFL’s primary revenue stream and shrink his $255 million check from the league.
OPINIONSBill Miller Says Bitcoin Is Interesting But That Most Cryptocurrencies Are Worthless (Hacked.com)
According to Bill Miller, Bitcoin is, “interesting but that most cryptocurrencies worthless.” He said this in an appearance live on Bloomberg’s show, “What’d You Miss?” Despite the seeming negativity of his comment, Miller went on to espouse a highly informed and rationally bullish case for the long-term value of Bitcoin. This defense of Bitcoin’s true value worth arrived as a retort to a condescending question asked by host Joe Weisenthal, specifically, “have you ever thought about how one would go about forming a fair valuation of Bitcoin?”
MOVES-Hedge Fund Man Group Names New Co-Head of Responsible Investment (Reuters)
July 30 (Reuters) – British hedge fund Man Group on Monday named Jason Mitchell as co-head of responsible investment. Mitchell was previously sustainability strategist at Man Group and a member of the responsible investment committee.
Insider Buying: Opko Health Inc. (OPK) CEO Acquires $455,400.00 in Stock (FairFieldCurrent.com)
Opko Health Inc. (NASDAQ:OPK) CEO Phillip Md Et Al Frost acquired 90,000 shares of the business’s stock in a transaction on Thursday, July 26th. The shares were purchased at an average price of $5.06 per share, with a total value of $455,400.00. Following the transaction, the chief executive officer now owns 3,068,951 shares in the company, valued at approximately $15,528,892.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Buying: Cerecor Inc (CERC) Major Shareholder Acquires $127,563.66 in Stock (WeekHerald.com)
Cerecor Inc (NASDAQ:CERC) major shareholder Armistice Capital Master Fund purchased 28,926 shares of the firm’s stock in a transaction dated Friday, July 27th. The stock was purchased at an average cost of $4.41 per share, with a total value of $127,563.66. The transaction was disclosed in a document filed 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 transactions with the SEC.
Insider Buying: CDTi Advanced Materials Inc (CDTI) Director Acquires $312,747.00 in Stock (MaconDaily.com)
CDTi Advanced Materials Inc (NASDAQ:CDTI) Director Lon E. Bell purchased 625,494 shares of the stock in a transaction that occurred on Wednesday, July 25th. The shares were acquired at an average price of $0.50 per share, for a total transaction of $312,747.00. Following the completion of the transaction, the director now directly owns 968,988 shares of the company’s stock, valued at approximately $484,494. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Insider Selling: Glu Mobile Inc. (GLUU) VP Sells 105,000 Shares of Stock (FairFieldCurrent.com)
Glu Mobile Inc. (NASDAQ:GLUU) VP Scott Leichtner sold 105,000 shares of the stock in a transaction dated Wednesday, July 11th. The stock was sold at an average price of $6.20, for a total transaction of $651,000.00. Following the transaction, the vice president now owns 268,338 shares of the company’s stock, valued at $1,663,695.60. The transaction was disclosed in a filing with the SEC.
Insider Selling: Jewett-Cameron Trading Company Ltd (JCTCF) Director Sells $109,480.00 in Stock (LedgerGazette.com)
Jewett-Cameron Trading Company Ltd (NASDAQ:JCTCF) Director Donald M. Boone sold 13,600 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $8.05, for a total value of $109,480.00. Following the transaction, the director now owns 1,339,344 shares of the company’s stock, valued at approximately $10,781,719.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
