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Hedge Fund and Insider Trading News: Prem Watsa, Toscafund Asset Management, Coatue Management, Twilio Inc (TWLO), Plug Power Inc (PLUG), and More

Billionaires Can’t Stop Buying These 3 Canadian Stocks (MSN Money)
Billionaires who’ve created their wealth through savvy investments deserve special attention. After all, these investors have spent decades honing their craft and digging into companies to uncover lucrative opportunities. They meet the definition of “smart money.” With that in mind, here are three stocks that billionaire investors have been scooping up over the past few months. Billionaire 1: Prem Watsa: Canada’s most famous investor has been betting on his own company. In a recent interview with the press, Watsa said his insurance/holding corporation, Fairfax Financial Corp. (TSX:FFH), was “ridiculously cheap.”

Hedge Funds Pocket €1.5 Billion as Wirecard Goes Bust (Reuters)
LONDON (Reuters) – Coatue Management and nine other hedge funds likely earned more than 1.5 billion euros (£1.4 billion) this week on bets against Wirecard (WDIG.DE) after the German payments firm collapsed on Thursday. Wirecard shares crashed to 2.5 euros on Thursday from 104.5 euros a week ago, before the company revealed a $2.1 billion hole in its accounts. That has landed Coatue Management, the hedge fund with the largest short position, a 271 million euro profit on paper, according to Reuters calculations.

Intu Short Bets Set to Pay Off for Hedge Funds as Debt-laden Retail Operator Calls in Administrators (Hedge Week)
Toscafund Asset Management, the long-running equity-focused hedge fund firm led by ex-Tiger Management star Martin Hughes, and Kite Lake Capital Management, the hard catalyst event driven fund, are two well-known UK hedge funds that have made bearish bets against the troubled retail operator in recent weeks. Citadel and Polar Capital are two other high-profile hedge funds that also held positions against Intu during the second quarter of this year.

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Alex Oakenman / shutterstock.com

The 2020 Preqin Private Capital Fund Terms Advisor (Preqin.com)
The 2020 Preqin Private Capital Fund Terms Advisor is the ultimate guide to private capital fund terms and conditions. It draws upon extensive research and contains analysis, benchmarks, investor opinions, listings of funds and their terms (on an anonymous basis), and more. The 14ᵗʰ edition of The Preqin Private Capital Fund Terms Advisor (FTA) compiles data from a broad range of sources – our current databases, historical datasets, and LP surveys – to deliver the industry’s most comprehensive data and intelligence on the private capital fund terms universe. In addition to providing data on key topics, such as fees, governance, and transparency.

Terry Smith Takes Aim at Overvalued Stocks as New Hedge Fund Readied (MoneyMarketing.co.uk)
Terry Smith may be venturing in hedge fund waters, new documents suggest. Betting against overvalued companies- or shorting stocks – defies the star fund manager’s style as we know it. However, Fundsmith registered a new fund, the Fundsmith Long/Short Master Fund, with the US Securities and Exchange Commission on June 11. This step allows marketing of the fund, which is incorporated in the Cayman Islands, to US investors.

Global Hedge Fund Software Market Growth Rate, Demands, Status and Application Forecast To 2025 (ColeOfDuty.com)
The Global Hedge Fund Software Market report aims to offer an in-depth analysis of the global market by a thorough study of market’s status, price and size data. On grounds of thorough historical statistics, market growth patterns, a detailed analysis for the forecast period is created. have their own designed methodology to study a market that widens the aspects of the Global Hedge Fund Software Market. The Global Hedge Fund Software Market report provides data covering market competition, production, revenue, export, import, supply, consumption, market overview, market analysis by applications and market effect factors analysis. These reports are derived with market intelligence, economy and equity. The report offers operational advisory and business intelligence on Global Hedge Fund Software Market, emphasizing on emerging business models, disruptive technologies along with precedent analysis and success case studies. It also covers the demand-supply gap, challenges and niche segments in the ecosystem.

Twilio Inc (TWLO) COO George Hu Sold $3.9 million of Shares (Guru Focus)
COO of Twilio Inc., George Hu, sold 17,891 shares of TWLO on 06/23/2020 at an average price of $215.93 a share. The total sale was $3.9 million. Twilio Inc provides a cloud communications platform that enables developers to build, scale and operate communications within software applications through the cloud as a pay-as- you-go service.

Friday 6/26 Insider Buying Report: ED, KODK (Nasdaq.com)
On Wednesday, Consolidated Edison’s CFO, Robert N. Hoglund, made a $143,300 purchase of ED, buying 2,000 shares at a cost of $71.65 each. Consolidated Edison is trading up about 0.8% on the day Friday. Before this latest buy, Hoglund purchased ED on 12 other occasions during the past year, for a total cost of $58,945 at an average of $86.79 per share. And at Eastman Kodak, there was insider buying on Tuesday, by Executive Chairman James V. Continenza who purchased 46,737 shares at a cost of $2.22 each, for a total investment of $103,756. Before this latest buy, Continenza purchased KODK at 3 other times during the past twelve months, for a total cost of $1.22M at an average of $2.42 per share. Eastman Kodak is trading off about 4.1% on the day Friday. Continenza was up about 9.5% on the purchase at the high point of today’s trading session, with KODK trading as high as $2.43 in trading on Friday.

The COO & Sr. VP of Plug Power (NASDAQ: PLUG) is Buying Shares (Analyst Ratings)
Yesterday, the COO & Sr. VP of Plug Power (PLUG), Keith Schmid, bought shares of PLUG for $1.08M. This recent transaction increases Keith Schmid’s holding in the company by 520.85% to a total of $522.5K. Following Keith Schmid’s last PLUG Buy transaction on February 24, 2020, the stock climbed by 2.4%.

MFL Shares Case: Sebi Settles Insider Trading Matter, Receives Rs 15 Lakh Towards Settlement Charges (OutlookIndia.com)
New Delhi, Jun 26 (PTI) Markets regulator Sebi on Friday settled an insider trading case with Priyanka Jain in the matter of Manappuram Finance Ltd (MFL) after receiving a payment of over Rs 15 lakh towards settlement charges. Sebi agreed to settle proposed adjudication proceedings in the case, pertaining to alleged violation of insider trading norms, after it was approached by Jain, who was the compliance officer of Ambit Capital, with a plea under the settlement regulations “without admitting or denying the findings of fact and conclusion of law”. In a settlement order, Sebi said it has disposed of the adjudication proceedings initiated against the applicant, Jain. The regulator in its order said it had conducted an investigation into the matter of selective disclosure of unpublished price-sensitive information (UPSI) of MFL.

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