Bill Ackman’s Pershing Square Builds Roughly $1 billion Stake in Lowe’s (CNBC)
Bill Ackman‘s Pershing Square has taken a stake in Lowe’s, a source tells CNBC. Ackman’s new stake in the home improvement retailer was first reported by Dow Jones. The hedge fund manager revealed the approximately $1 billion sized position at a conference in New York Wednesday, the Dow Jones report said. Ackman said he supports the company’s incoming chief executive Marvin Ellison at the conference, according to the report. The hedge fund manager also said he agrees with activist investor D.E. Shaw‘s position that Lowe’s needs to do more to catch up with its competitor Home Depot.
Marble Arch Hedge Fund Shuts Down (The Wall Street Journal)
Marble Arch Investments LP, a $2.4 billion New York hedge fund, said it is closing down, the latest sign of pain felt by investors who bet against expensive stocks. On Monday, the 11-year-old firm announced the decision in a letter to its investors. “The past two years have been disappointing… as performance has been challenged by our value orientation and a difficult short-selling environment,” the letter said, according to an investor who received it.
Elliott Adds Steel to European Bets on Coffee, Property, Telcos (Bloomberg)
Billionaire Paul Singer’s Elliott Management Corp. has set its sights on German steel and engineering giant Thyssenkrupp AG, showing that Europe is still on the activist investor’s radar. Elliott is building a stake in the German company and would like to replace Chief Executive Officer Heinrich Hiesinger, according to people familiar with the matter. The hedge fund may cross the threshold for public disclosure of 3 or 5 percent in coming weeks, they said.
What Do Hedge Funds and Generation Z Have in Common? (Bloomberg)
(Bloomberg Opinion) — Not known for their patience, hedge funds are seeking to make a quick buck from an equally restless Generation Z. Bilibili Inc., the owner of China’s most popular website for streaming animation videos and mobile games, has attracted the likes of Tiger Global Management, Point72 Asset Management and Hillhouse Capital Management, Jeran Wittenstein of Bloomberg News reported. Shanghai-based Bilibili has around 72 million monthly active users, 82 percent of which are classified as Generation Z, or people aged nine to 28. Word of mouth has meant Bilibili’s user base is growing about as fast as Weibo Corp.’s did in the early years.
Hedge Fund Managers To Analyze Industry Trends At China Summit (Forbes)
About 1,500 hedge fund managers and financial industry executives will gather in Shanghai tomorrow to discuss China hedge fund industry trends. Speakers at the China Hedge Fund Summit will include Ba Shusong, the chief China economist of the Hong Kong Exchanges and Clearing Ltd., and Charles Peng, founder of ZiAsset Management, a provider of services to the hedge fund management industry. The event comes amid growth in the scale of assets under management by private funds in China. The total last year exceeded 11 trillion yuan, or about $1.7 trillion, for the first time, nearly matching mutual funds.
Insider Selling: Keane Group (FRAC) CFO Sells 20,956 Shares of Stock (MaconDaily.com)
Keane Group Inc (NYSE:FRAC) CFO Gregory Powell sold 20,956 shares of Keane Group stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $16.02, for a total transaction of $335,715.12. Following the completion of the transaction, the chief financial officer now directly owns 43,554 shares in the company, valued at approximately $697,735.08. The sale was disclosed in a legal filing with the SEC.
Insider Buying: Vista Outdoor (VSTO) CEO Buys 20,000 Shares of Stock (StockNewsTimes.com)
Vista Outdoor Inc (NYSE:VSTO) CEO Christopher T. Metz purchased 20,000 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were purchased at an average price of $13.21 per share, for a total transaction of $264,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: MedEquities Realty Trust (NYSE:MRT) Director Sells 19,316 Shares of Stock (WeekHerald.com)
MedEquities Realty Trust Inc (NYSE:MRT) Director Bluemountain Capital Managemen sold 19,316 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $10.48, for a total transaction of $202,431.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Insider Buying: HighPoint Resources Corp (HPR) Director Purchases 15,723 Shares of Stock (LedgerGazette.com)
HighPoint Resources Corp (NYSE:HPR) Director Mark Stephen Berg bought 15,723 shares of the firm’s stock in a transaction dated Friday, May 11th. The shares were acquired at an average price of $6.38 per share, with a total value of $100,312.74. The acquisition was disclosed in a document filed with the SEC.
Insider Buying: Smart Sand (SND) CEO Buys 15,000 Shares of Stock (MaconDaily.com)
Smart Sand Inc (NASDAQ:SND) CEO Charles Edwin Young purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, May 15th. The stock was purchased at an average cost of $6.60 per share, with a total value of $99,000.00. Following the purchase, the chief executive officer now owns 223,906 shares in the company, valued at $1,477,779.60. The acquisition was disclosed in a filing with the SEC.
Insider Buying: American Homes 4 Rent (NYSE:AMH) Director Purchases 242,223 Shares of Stock (WeekHerald.com)
American Homes 4 Rent (NYSE:AMH) Director B Wayne Et Al Hughes acquired 242,223 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average cost of $20.64 per share, with a total value of $4,999,482.72. The transaction was disclosed in a legal filing with the SEC.