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Hedge Fund and Insider Trading News: Keith Meister, Jeffrey Smith, Highland Capital, Dare Bioscience Inc (DARE), Quest Resource Holding Corp (QRHC), KAR Auction Services Inc (KAR), and More

Former Seaworld Associate General Counsel Charged with Insider Trading (
(HedgeCo.Net) A former senior lawyer at SeaWorld Entertainment Inc. (Sea World) has been charged with insider trading based on nonpublic information that the company’s revenue would be better than anticipated for the second quarter of 2018. The SEC alleges that Paul B. Powers had early access to key revenue information as the company’s associate general counsel and assistant secretary, and he purchased 18,000 shares of SeaWorld stock the day after he received a confidential draft of the 2018 second quarter earnings release that detailed a strong financial performance by the company after a lengthy period of decline. According to the SEC’s complaint, Powers immediately sold his SeaWorld shares for approximately $65,000 in illicit profits after the company announced its positive earnings and the company’s stock price increased by 17 percent.

Tuesday 4/16 Insider Buying Report: DARE, TLRD (
At Dare Bioscience (DARE), a filing with the SEC revealed that on Thursday, Director Roger Hawley purchased 454,545 shares of DARE, for a cost of $1.10 each, for a total investment of $500,000. Dare Bioscience is trading up about 3.8% on the day Tuesday. Before this latest buy, Hawley made one other buy in the past twelve months, purchasing $203,378 shares for a cost of $1.45 a piece. And at Tailored Brands (TLRD), there was insider buying on Friday, by the Brand President who bought 13,500 shares at a cost of $7.41 each, for a trade totaling $100,035. This buy marks the first one filed by the Brand President in the past year. Tailored Brands is trading up about 5.6% on the day Tuesday. So far Ask is in the green, up about 11.7% on their buy based on today’s trading high of $8.28.

Insider trading: April 16, 2019 (
The following is a list of stock trades made by corporate executives, directors and other company insiders of B.C.’s public companies filed in the week ended April 10, 2019. The information comes from a compilation of required reports filed with the BC Securities Commission obtained from Insider John David Alexander Belfontaine, 10% owner. Company: Phivida Holdings Inc. (CSE:VIDA). Shares owned: 1,389,000. Trade date: April 4, 5. Trade total: $115,300. Trade: Sale of 145,000 shares at prices ranging between $0.72 and $0.84 per share.

An Insider at Quest Resource (NASDAQ: QRHC) is Selling Shares (AnalystRatings)
Today, an Insider at Quest Resource (QRHC), Mitchell Saltz, sold shares of QRHC for $6.43M. This is Saltz’s first transaction since reporting a Sell transaction on AOBC back in December 2010 In addition to Mitchell Saltz, one other QRHC executive reported Sell trades in the last month. Based on Quest Resource’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $25.26 million and quarterly net profit of $93K. In comparison, last year the company earned revenue of $24.7 million and had a GAAP net loss of $1.31 million. Currently, Quest Resource has an average volume of 120.8K.

Do Corporate Audits Lead to Insider Trading? (Knowledge @ Wharton)
Audit reports – and the requirement that public companies file audited financial statements – are a cornerstone of modern financial reporting. The Securities Exchange Act of 1934 requires that all public companies disclose audited financial statements and their findings. But could these audits, which are designed to protect shareholders, actually provide a motivation for insider trading? In the paper “Audit Process, Private Information, and Insider Trading,” a team of researchers from Wharton and Indiana University examine whether corporate insiders trade based on foreknowledge of audit outcomes. They found a spike in trading activity around the date at which audit findings are conveyed to the Board of Directors but not the public. The paper was recently awarded the ‘Best Academic Paper’ at the John L. Weinberg Center for Corporate Governance Annual Symposium.

Western Asset High Income Fund II Inc. (NYSE:HIX) Insider Trading Activity – Major Shareholder Bought 55,356 shares of Stock (Market Exclusive)
Insider Trading Activity For Western Asset High Income Fund II Inc. (NYSE:HIX): Saba Capital Management, L.P., Major Shareholder of Western Asset High Income Fund II Inc. (NYSE:HIX) reportedly Bought 55,356 shares of the company’s stock at an average price of 6.61 for a total transaction amount of $365,903.16.

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