The 7 Most Undervalued Stocks In Larry Robbins’ Portfolio (Benzinga)
Larry Robbins is a hedge fund manager and CEO of Glenview Capital Management. He is also well known for his quarterly letters to investors. Robbins has been described as a ‘Growth at a Reasonable Price’ (GARP) investor and as a ‘multi-strategy investor’. He’s said that he backs companies with predictable cash flows and recurring revenue streams. He often holds positions for significant periods, even when those positions move against him. As a result, he has earned a reputation for experiencing persistent winning and losing streaks. While Robbins is not an activist investor, he does voice his opinions when it comes to some of his largest positions. In fact, he has said he would rather be ‘suggestivist’ than activist. In this way, he has been instrumental in bringing about corporate action at Tenet Healthcare Corp and Community Health Systems. Below I take a closer look at Robbins’ holdings as reported in the hedge fund’s recent 13F SEC filing to find his most undervalued stocks…
Point72 Executive Says Sexism Case Belongs in U.S. Court, Not Arbitration (Reuters)
NEW YORK (Reuters) – A female executive at Steven A. Cohen’s Point72 Asset Management LP on Wednesday urged a federal judge to reject the billionaire’s effort to move her claims of “pervasive” sexism at the hedge fund firm into arbitration. Point72 had contended that Lauren Bonner, its head of talent analytics, agreed to arbitrate her claims against the firm, Cohen and former President Douglas Haynes as a condition of her employment, which began in August 2016. But in a Manhattan federal court filing, Bonner said her employment contract’s arbitration clause is not all-encompassing, and does not cover her claims under the federal Equal Pay Act and state labor and human rights laws.
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Och-Ziff Executive to Start New Unit Under Fund Giant Millennium: Sources (Reuters)
NEW YORK (Reuters) – An Och-Ziff Capital Management executive is leaving the company to run a new firm backed by global investment firm Millennium Management, according to two sources familiar with the matter, the latest move in the commodities fund industry after a turbulent 2017. Chaitanya Mehra, managing director and head of global commodities at Och-Ziff (OZM.N), plans to launch the entity backed by Millennium as soon as September with offices in New York and London, two sources told Reuters. The firm will initially trade exclusively with Millennium’s capital, one source said.
Weinstein Co. Burns Funds From Baupost to Highbridge (Bloomberg)
(Bloomberg) — It seemed like a good idea at the time — buy an equity stake in an upstart film company founded by two gutsy New Yorkers with a knack for making money at the box office. That was in 2005 when Goldman Sachs & Co. was raising money to help producers Harvey Weinstein and his brother, Robert, open a new movie studio. This week, as Weinstein Co. filed for bankruptcy, it became clear that a group of hedge funds and other big-name money managers were among those who lost money betting on the duo. Hedge fund firms including Baupost Group, Eton Park Capital Management and Highbridge Capital Management are listed among the equity security holders in the filing, which came after the company was hobbled by more than 80 sexual harassment claims against Harvey Weinstein. He denies any non-consensual sex.
Insider Buying: NII Holdings (NIHD) Major Shareholder Acquires 500,000 Shares of Stock (LedgerGazette.com)
NII Holdings (NASDAQ:NIHD) major shareholder 683 Capital Management, Llc acquired 500,000 shares of the company’s stock in a transaction on Friday, March 9th. The shares were acquired at an average cost of $1.40 per share, for a total transaction of $700,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission.
Insider Buying: Marchex, Inc. (NASDAQ:MCHX) Major Shareholder Acquires 50,000 Shares of Stock (RegistrarJournal.com)
Marchex, Inc. (NASDAQ:MCHX) major shareholder Edenbrook Capital, Llc bought 50,000 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was bought at an average cost of $2.85 per share, for a total transaction of $142,500.00. The purchase was disclosed in a legal filing with the SEC.
Insider Buying: Corvus Pharmaceuticals Inc (CRVS) Major Shareholder Purchases 588,235 Shares of Stock (TheLincolnianOnline.com)
Corvus Pharmaceuticals Inc (NASDAQ:CRVS) major shareholder Adams Street Partners Llc acquired 588,235 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was bought at an average price of $8.50 per share, with a total value of $4,999,997.50. Following the completion of the acquisition, the insider now directly owns 4,420,516 shares of the company’s stock, valued at $37,574,386. The acquisition was disclosed in a document filed with the SEC.
Insider Buying: ALJ Regional Holdings, Inc. (ALJJ) Insider Buys $152,195.89 in Stock (LedgerGazette.com)
ALJ Regional Holdings, Inc. (NASDAQ:ALJJ) insider Jess M. Ravich purchased 72,821 shares of ALJ Regional stock in a transaction dated Friday, March 16th. The stock was bought at an average cost of $2.09 per share, with a total value of $152,195.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Insider Buying: Arotech Co. (ARTX) Chairman Purchases $64,000.00 in Stock (MaconDaily.com)
Arotech Co. (NASDAQ:ARTX) Chairman Jon B. Kutler bought 20,000 shares of the business’s stock in a transaction dated Friday, March 16th. The shares were bought at an average price of $3.20 per share, with a total value of $64,000.00. The transaction was disclosed in a filing with the SEC.
Insider Selling: Pluristem Therapeutics Inc. (PSTI) Director Sells $67,892.04 in Stock (StockNewsTimes.com)
Pluristem Therapeutics Inc. (NASDAQ:PSTI) Director Mark Germain sold 45,873 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $1.48, for a total value of $67,892.04. Following the completion of the sale, the director now owns 525,584 shares of the company’s stock, valued at $777,864.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Insider Buying: Conifer Holdings (CNFR) President Purchases $60,000.00 in Stock (RegistrarJournal.com)
Conifer Holdings (NASDAQ:CNFR) President Brian J. Roney bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average cost of $6.00 per share, with a total value of $60,000.00. Following the transaction, the president now owns 311,920 shares of the company’s stock, valued at approximately $1,871,520. The acquisition was disclosed in a document filed with the Securities & Exchange Commission.
