Hedge Fund Alden Global Offers to Buy Tribune Publishing (CNBC)
Tribune Publishing’s largest shareholder, Alden Global Capital, said on Thursday it had offered to take full control of the owner of the Chicago Tribune in a deal that values the company at $520.6 million. Alden, known for its hostile takeover bids of publishing companies, has a stake of 32% stake in Tribune. The hedge fund’s offer valued the newspaper chain at $14.25 per share, representing a premium of 11.4% to the company’s shares last closing price.
City Tycoon Marshall Tunes into £60m GB News Fundraising (Sky News)
Sir Paul Marshall is close to finalising a deal to invest £10m into the new current affairs broadcaster, Sky News learns. One of the City’s most prominent hedge fund managers is preparing to invest millions of pounds in GB News, the fledgling current affairs broadcasting company which is targeting a launch into British homes next year. Sky News has learnt that Sir Paul Marshall, the co-founder of Marshall Wace, is in advanced talks about injecting approximately £10m into GB News.
Larry Robbins Hedge Fund Indicates top Fund Holdings as 2021 Picks, a Mixed Pack (Seeking Alpha)
Larry Robbins, Founder and CEO of Glenview Capital Management picks top 10 stock. Glenview Capital 13F portfolio reported a value decline of $22B in the past five years. At the end of the latest quarter, the 13F portfolio value stood ~$3.18B at the end of the latest quarter. Fund slashed its position in 27 stocks during the September quarter and sold out his stake in 6 stocks. In the latest quarter, it bought only 7 stocks in the latest quarter and added to 9 existing positions.
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‘There is Still a Painful Void:’ Greenwich’s Ray Dalio Opens Up About Loss of Son (GreenWichTime.com)
GREENWICH — The loss of his son in a crash nearly two weeks ago “triggered an enormous amount of pain and reflection,” Greenwich entrepreneur and philanthropist Ray Dalio said in a lengthy essay released Wednesday. Devon Dalio, 42, was killed Dec. 17 after his Audi crashed into a Verizon store in the Riverside Commons shopping center in Greenwich and caught fire.
Hedge Funds Ride 2020’s Crypto Boom to Rally 156% (Financial News)
Hedge funds have warmed to cryptocurrencies as bitcoin boomed with a rally that is on track to end the year some 305% higher. Hedge funds overall have struggled to consistently beat returns of equity indexes. Global hedge funds gained 4.49% in November, their best month since 2009, and posted a more than 8% gain in the first 11 months of the year, hedge fund tracking firm Eurekahedge found. An index tracking hedge funds that invest in cryptocurrencies including bitcoin surged 52% in November, bringing the year-to-date return to a whopping 156%. That’s according to analysis and research firm HFR, which posted the performance of its HFR Cryptocurrency Index.
SEC Freezes Crypto Hedge Fund Assets (Investopedia)
The Securities and Exchange Commission (SEC) has charged New York-based crypto hedge fund Virgil Capital with securities fraud and frozen its assets. The agency’s complaint stated that the fund’s founder, 23-year-old Stefan Qin, with engaging “in a deceptive course of conduct, using materially false and misleading statements to investors and others” and causing harm to two crypto funds – the Sigma fund and the VQR fund – marketed by his company.
Hedge Fund Launches Rise as Industry Positions for Growth in 2021 (Hedge Week)
New hedge fund launches increased to the highest level in five quarters in Q3 2020 on optimism in the US economy, as managers and investors positioned for acceleration of performance gains and capital growth into 2021, according to the latest HFR Market Microstructure Report, released today by HFR. New hedge fund launches increased to an estimated 151 in Q3 2020, the highest quarterly launch total since 2Q19 and exceeded the estimated quarterly liquidations for the first time since 2Q18. Launches in the most recent quarter exceeded the 2Q estimate of 129 new funds, bringing the YTD 2020 launches to 364 through Q3, a period which included a record low number of fund launches in 1Q as the global pandemic began.
Thursday 12/31 Insider Buying Report: CLR (Nasdaq.com)
At Continental Resources, there was insider buying on Monday, by Director Timothy Garth Taylor who purchased 5,917 shares for a cost of $17.00 each, for a trade totaling $100,603. Before this latest buy, Taylor purchased CLR at 2 other times during the past twelve months, for a total investment of $200,876 at an average of $9.73 per share. Continental Resources is trading down about 1.2% on the day Thursday. Bargain hunters have the opportunity to pick up CLR at a price even lower than Taylor did, with the stock changing hands as low as $16.57 in trading on Thursday — that’s 2.5% under Taylor’s purchase price.
Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $22.7 million of Shares (Guru Focus)
President, CEO & Chairman of Square Inc, Jack Dorsey, sold 100,000 shares of SQ on 12/28/2020 at an average price of $227.43 a share. The total sale was $22.7 million. Square Inc is a software company offering solutions ranging from payments and point-of-sale services to financial and marketing services. It offers a free software app with its hardware to turn mobile devices into powerful POS solutions in minutes.
The Executive Vice-President of Repare Therapeutics (NASDAQ: RPTX) is Selling Shares (Analyst Ratings)
Today, the Executive Vice-President of Repare Therapeutics (RPTX), Michael Zinda, sold shares of RPTX for $512.2K. In addition to Michael Zinda, 7 other RPTX executives reported Sell trades in the last month. Over the last month, Michael Zinda has reported another 3 Sell trades on RPTX for a total of $1.17M.
Bandwidth Inc (BAND) Chairman & CEO David A. Morken Sold $14.6 million of Shares (Guru Focus)
Chairman & CEO of Bandwidth Inc, David A. Morken, sold 90,270 shares of BAND on 12/29/2020 at an average price of $162.06 a share. The total sale was $14.6 million. Bandwidth Inc provides a cloud-based communications platform for enterprises in the United States. It offers solutions including software application programming interfaces for voice and text functionality.
