Billionaire Paulson Attracts Chinese Suitor for Steinway (Bloomberg)
Steinway Musical Instruments Inc., the legendary piano maker controlled by U.S. hedge fund billionaire John Paulson, has attracted takeover interest from China Poly Group Corp., people familiar with the matter said. The state-owned conglomerate is holding preliminary talks about a purchase of Steinway, according to one of the people, who asked not to be identified because the deliberations are private. The company, whose iconic pianos have been used by virtuosos such as Lang Lang, could fetch about $1 billion in a sale, the people said.
Luis Louro / shutterstock.com
US Hedge Fund Assets Reach $2.58 Trillion (AI-CIO.com)
US hedge fund assets grew almost 8% last year, to $2.57 trillion, and inched up to $2.58 trillion in this year’s first quarter, Preqin researchers said. The increase last year came amid very strong performance for hedge funds, as almost all markets—and equities in particular-enjoyed strong returns. The first quarter of 2018, when assets moved up just 0.4%, proved more challenging, as the US stock market had a 10% correction during the winter. Nonetheless, Preqin has an optimistic view for this year as a whole. “Indications for 2018 are for sustained growth despite lackluster performance,” the firm said in a statement.
Hedge Fund’s Italian Raid Leaves Us In the Dark (Bloomberg)
Ten years on from the financial crisis, bank balance sheets haven’t become any simpler to digest for the average investor. Finance firms are big and leveraged; regulations have just become new instruments of complexity. That might suggest a potential windfall for any brainy number-cruncher who’s bored enough to spend a year looking for inconsistencies in the industry’s accounts. London hedge fund Caius Capital certainly thinks so. It carved out a niche for itself in 2017 when it accused Britain’s mighty West Bromwich Building Society – 750 employees, 9 million pounds ($12 million) in profit – of wrongly classifying debt instruments as core capital.
Insider Buying: One Group Hospitality Inc (STKS) Major Shareholder Buys 74,963 Shares of Stock (WeekHerald.com)
One Group Hospitality Inc (NASDAQ:STKS) major shareholder David Kanen bought 74,963 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were purchased at an average cost of $2.84 per share, with a total value of $212,894.92. The acquisition was disclosed in a filing with the SEC.
Insider Selling: Yext Inc (YEXT) CFO Sells $441,600.00 in Stock (XNewsPress.com)
Yext Inc (NYSE:YEXT) CFO Steven Cakebread sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. The sale was disclosed in a document filed with the SEC.
Insider Selling: Xerox Corp (XRX) Insider Sells 16,567 Shares of Stock (XNewsPress.com)
Xerox Corp (NYSE:XRX) insider Herve Tessler sold 16,567 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $26.03, for a total transaction of $431,239.01. Following the completion of the sale, the insider now owns 34,647 shares in the company, valued at approximately $901,861.41. The sale was disclosed in a legal filing with the SEC.
Insider Buying: Cedar Fair, L.P. (FUN) Director Buys 10,000 Shares of Stock (MaconDaily.com)
Cedar Fair, L.P. (NYSE:FUN) Director Thomas Klein acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were acquired at an average price of $51.17 per share, with a total value of $511,700.00. Following the completion of the transaction, the director now directly owns 36,012 shares in the company, valued at approximately $1,842,734.04. The purchase was disclosed in a legal filing with the SEC.
Insider Selling: Evolution Petroleum Corp (EPM) CFO Sells 12,352 Shares of Stock (FairFieldCurrent.com)
Evolution Petroleum Corp (NYSEAMERICAN:EPM) CFO David Joe sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $12.00, for a total value of $148,224.00. Following the sale, the chief financial officer now directly owns 265,238 shares in the company, valued at approximately $3,182,856. The sale was disclosed in a legal filing with the SEC.
