SEC Bars Hedge Fund Manager Charged with Asset Mismarking and Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against a hedge fund manager the agency charged with falsely inflating assets in portfolios he managed. The SEC also barred him from the securities industry. According to the SEC’s complaint, filed June 15, 2016, Christopher Plaford, a resident of Bedford, N.Y., and fellow hedge fund manager Stefan Lumiere engaged in a fraudulent scheme to falsely inflate the value of securities held by a hedge fund advised by their firm. For an 18-month period, Plaford and Lumiere allegedly used sham broker quotes to mismark as many as 28 securities per month, surreptitiously passing their desired prices along to brokers via Lumiere’s personal cell phone or a flash drive delivered by a courier.
Wednesday 7/31 Insider Buying Report: RMM, NSC (Nasdaq.com)
On Friday, Rivernorth Managed Duration Municipal Income Fund (RMM)’s President, Patrick W. Galley, made a $200,000 purchase of RMM, buying 10,000 shares at a cost of $20.00 a piece. Rivernorth Managed Duration Municipal Income Fund is trading trading flat on the day Wednesday. And on Monday, Director Jennifer F. Scanlon purchased $100,546 worth of Norfolk Southern Corp (NSC), purchasing 525 shares at a cost of $191.52 each. This purchase marks the first one filed by Scanlon in the past twelve months. Norfolk Southern Corp is trading off about 0.1% on the day Wednesday. Scanlon was up about 0.7% on the purchase at the high point of today’s trading session, with NSC trading as high as $192.81 at last check today.
Insider Trade Overview: The Liberty Braves Group (BATRA) Buys and Sells (Antony Press)
On July 30, 2019, The Liberty Braves Group (NASDAQ:BATRA) shares gained 0.69% or 0.2 points to close at $29.08 with a thin trading volume of 103.913 thousand shares. It opened the trading session at $28.83, the shares rose to $29.55 and dropped to $28.78, the range by which the price of stock traded the whole day. The company now has a market cap of $23.6 billion and currently has 813.02 million outstanding shares. The Liberty Braves Group (BATRA) stock has accumulated 4.6 percent of market value in 21 trading days.
Spirit Airlines Inc (SAVE) President and CEO Edward M Christie Iii Bought $99,584 of Shares (Guru Focus)
President and CEO of Spirit Airlines Inc (30-Year Financial, Insider Trades) Edward M Christie Iii (insider trades) bought 2,375 shares of SAVE on 07/30/2019 at an average price of $41.93 a share. The total cost of this purchase was $99,584. Spirit Airlines Inc is an airline company. The company provides air transportation for passengers. It’s all all-Airbus fleet operates more than 385 daily flights to over 56 destinations in the United States, Caribbean and Latin America. Spirit Airlines Inc has a market cap of $2.92 billion; its shares were traded at around $42.62 with a P/E ratio of 8.10 and P/S ratio of 0.83. Spirit Airlines Inc had annual average EBITDA growth of 11.00% over the past ten years. GuruFocus has detected 2 severe warning signs with Spirit Airlines Inc.
A Director at Twitter (NYSE: TWTR) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Twitter (TWTR), David Rosenblatt, bought shares of TWTR for $73.2K. This recent transaction increases David Rosenblatt’s holding in the company by 41.94% to a total of $3.91 million. Following David Rosenblatt’s last TWTR Buy transaction on May 10, 2019, the stock climbed by 2.6%.
Daily Insider Ratings Round Up 7/25/19 – With New Tables (Seeking Alpha)
On Today’s Tables: Insider trades were rated Significant at: Esperion Therapeutics (ESPR), and; Century Bancorp (CNBKA). Insider trades were rated Nearly Significant at: Crown Castle (REIT) (CCI), and; American National Bankshares (AMNB).
SEBI Fines IIFL for Violating Stock Brokers Norms (DeccanHerald.com)
Markets regulator Sebi on Wednesday imposed a fine of Rs 3 lakh on IIFL Securities Ltd for violating code of conduct for stockbrokers. The Securities and Exchange Board of India (Sebi) conducted a probe in suspected insider trading by one of the clients of stockbroker IIFL Securities, earlier known as India Infoline Ltd. During the course of an investigation, Sebi observed that IIFL accepted orders in the trading account of its client, Vimala, from a person other than the client without obtaining proper authorisation and only on the basis of verbal instructions.
