Glass Lewis Backs Paulson Co’s Proposals in Detour Proxy Fight (Reuters)
Dec 5 (Reuters) – Proxy adviser Glass Lewis on Wednesday backed Paulson & Co.’s call to overhaul Detour Gold Corp’s board, days after another adviser stopped short of recommending more aggressive changes demanded by the activist investor. Detour’s existing management has been resisting Paulson’s push for a board shakeup and the immediate dismissal of interim Chief Executive Officer Michael Kenyon and Chairman Alex Morrison. Paulson has about 6 percent stake in Detour.
Citadel, Point72 Hammered by Monthly Losses in November Comedown (Bloomberg)
Billionaires Ken Griffin, Izzy Englander and Steve Cohen posted monthly losses in November that rank among their worst ever as stock hedge funds dumped holdings at a rate not seen since the financial crisis. Griffin’s Citadel lost about 3 percent last month, its poorest showing since the first quarter of 2016. Englander’s Millennium Management slid 2.8 percent, its third-worst month on record. Cohen’s Point72 Asset Management dropped about 5 percent, largely wiping out its 2018 gains, according to people familiar with the firms.
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Millennium Management Poaches Another Goldman Sachs Veteran (efinancialCareers.com)
Millennium Management continues to pick on Goldman Sachs as it looks to fill seats left vacant by rampant poaching from ExodusPoint, the new hedge fund led by former Millennium star trader Michael Gelband. The latest win for Millennium is former Goldman Sachs managing director Ankit Raj, who joined the hedge fund last month as a fixed income portfolio manager in New York. Millennium has had an interesting year when it comes to staffing. It has lost at least a dozen portfolio managers and traders to ExodusPoint in New York and London as Gelband continues to target his former employer, with which he reportedly left on iffy terms. Millennium Management hasn’t stood still while watching some of its talent walk out the door. The hedge fund has hired a number of former sell-side quants and traders over the last few months, including several with ties to Goldman Sachs.
Former Soros Manager to Run Schroders Liquid Hedge Fund (Portfolio-Adviser.com)
Schroders has added to its range of liquid hedge funds with the launch of a fund managed by former Soros Fund Management employee, Robert Donald. The Schroder Gaia Helix fund is a daily-dealing Ucits vehicle containing long/short and long-only alpha equity strategies. It sits on the asset manager’s multi-strategy Gaia platform which contains eight other funds representing about $6.5bn (£5bn) in assets under management. Donald (pictured) is a former employee of Man GLG and George Soros’s hedge fund-turned-family-office, Soros Fund Management, which he joined in 2009 as a portfolio manager.
Insider Buying: Exterran Corp (EXTN) Major Shareholder Buys 124,904 Shares of Stock (PressOracle.com)
Exterran Corp (NYSE:EXTN) major shareholder Chai Trust Co Llc purchased 124,904 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was bought at an average price of $22.28 per share, with a total value of $2,782,861.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission.
Insider Selling: Cisco Systems, Inc. (CSCO) SVP Sells 33,950 Shares of Stock (FairFieldCurrent.com)
Cisco Systems, Inc. (NASDAQ:CSCO) SVP Prat Bhatt sold 33,950 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the transaction, the senior vice president now owns 90,207 shares in the company, valued at approximately $4,046,686.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Insider Buying: Clearone Inc (NASDAQ:CLRO) CEO Purchases 62,078 Shares of Stock (BaseballDailyDigest.com)
Clearone Inc (NASDAQ:CLRO) CEO Zeynep Hakimoglu acquired 62,078 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The shares were acquired at an average cost of $1.27 per share, for a total transaction of $78,839.06. Following the transaction, the chief executive officer now owns 364,135 shares of the company’s stock, valued at approximately $462,451.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Insider Selling: LHC Group, Inc. (LHCG) CEO Sells 75,000 Shares of Stock (WeekHerald.com)
LHC Group, Inc. (NASDAQ:LHCG) CEO Keith G. Myers sold 75,000 shares of LHC Group stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $103.40, for a total transaction of $7,755,000.00. The sale was disclosed in a legal filing with the SEC.
Insider Buying: CorMedix Inc. (NYSEAMERICAN:CRMD) CFO Acquires 25,000 Shares of Stock (MareaInformativa.com)
CorMedix Inc. (NYSEAMERICAN:CRMD) CFO Robert W. Cook bought 25,000 shares of the stock in a transaction on Tuesday, November 27th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $29,250.00. Following the acquisition, the chief financial officer now directly owns 127,083 shares in the company, valued at $148,687.11. The transaction was disclosed in a legal filing with the SEC.
