Hedge Fund Blames U.S. Meat Processing ‘Oligopoly’ for ‘Excessive Concentration, Reduced Competition and…a Decline in Resilience’ (MarketWatch.com)
A portfolio manager at one of world’s leading hedge funds has launched an attack against America’s big four meat processing firms for their alleged part in breaking the U.S. food supply chain. The comments by Tim Bond, partner and portfolio manager at Odey Asset Management, were triggered by full-page newspaper advertisements taken out by meat processor Tyson Foods US:TSN at the end of last month. The ads warned “the food supply chain is breaking.”
Friday 5/8 Insider Buying Report: GRA, HMST (Nasdaq.com)
At Grace, a filing with the SEC revealed that on Monday, CEO Force Andrew Hudson La III purchased 5,000 shares of GRA, at a cost of $46.37 each, for a total investment of $231,870. La III was up about 10.2% on the purchase at the high point of today’s trading session, with GRA trading as high as $51.11 in trading on Friday. Grace is trading up about 4.2% on the day Friday. Before this latest buy, La III made one other purchase in the past twelve months, buying $276,160 shares at a cost of $69.04 each. And on Thursday, Director Mark Robert Patterson bought $228,865 worth of HomeStreet, buying 10,000 shares at a cost of $22.89 a piece. Before this latest buy, Patterson made one other purchase in the past year, buying $115,900 shares for a cost of $23.18 a piece. HomeStreet Inc is trading up about 5.5% on the day Friday. So far Patterson is in the green, up about 6.7% on their buy based on today’s trading high of $24.41.
Wayfair Inc (W) CFO Michael D Fleisher Sold $4.5 million of Shares (Guru Focus)
CFO of Wayfair Inc., Michael D Fleisher, sold 26,016 shares of W on 05/05/2020 at an average price of $174.32 a share. The total sale was $4.5 million. Wayfair Inc operates as an online destination for the home good products in the United States. It offers a range of furniture, décor, decorative accent, housewares, seasonal décor, and other home good products. Wayfair Inc has a market cap of $16.74 billion; its shares were traded at around $176.89 with and P/S ratio of 1.71. GuruFocus has detected 3 severe warning signs with Wayfair Inc.
The VP, Strategy and IR of Stryker (NYSE: SYK) is Selling Shares (Analyst Ratings)
Yesterday, the VP, Strategy and IR of Stryker (SYK), Katherine Ann Owen, sold shares of SYK for $1.71M. Following Katherine Ann Owen’s last SYK Sell transaction on July 29, 2015, the stock climbed by 89.7%. In addition to Katherine Ann Owen, one other SYK executive reported Sell trades in the last month.
SEC Charges Bloomberg Tradebook for Order Routing Misrepresentations (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission today filed settled charges against registered broker-dealer Bloomberg Tradebook LLC for making material misrepresentations and omitting material facts about how the firm handled certain customer trade orders. The SEC’s order finds that Tradebook routed certain customer orders – primarily orders entered by customers who paid relatively low commission rates – using an undisclosed arrangement that it referred to internally as the “Low Cost Router.” As part of this arrangement, Tradebook allowed three unaffiliated broker-dealers to determine the venues to which certain customer “immediate-or-cancel” orders would be routed for execution.
