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Hedge Fund and Insider Trading News: Ray Dalio, Nelson Peltz, Weight Watchers International, Inc. (WTW), Xeris Pharmaceuticals Inc (XERS), Carolina Financial Corporation (CARO), and More

‘Pain + Reflection = Progress’: Here are 13 Brilliant Quotes from Hedge-fund Legend Ray Dalio (Business Insider)
Hedge fund legend Ray Dalio, who runs Bridgewater Associates, is widely considered to be one of the most successful hedge fund managers in the world. Dalio has $18.4 billion in net worth, the second richest hedge-fund manager globally, just behind Jim Simons, a quant guru who founded Renaissance Technologies. He says his investment philosophy is to bet against the consensus and make sure he is right.

Hedge Fund Investing $100 million in Harvard Drug Research (StatNews)
Researchers at Harvard University who want to take drug discoveries from the lab to the market may soon get an infusion of cash. The university plans to announce a partnership Wednesday with Deerfield Management, a health care hedge fund firm that has pledged $100 million to invest in promising potential drugs.

Covalis Capital's Returns, AUM and Holdings

Rawpixel.com/Shutterstock.com

Hedge Fund CEO Manuel Henriquez Steps Down Amid College Admissions Scandal (CBS)
PALO ALTO (CBS SF / AP) — The head of a Silicon Valley hedge fund who became ensnared in a massive college bribery scandal is stepping down. Manuel Henriquez, who was also the top executive investment giant PIMCO until 2016, will be replaced as CEO and chairman of Hercules Capital in Palo Alto. Henriquez was arrested in New York City and released on $500,000 bail after a brief appearance in Manhattan federal court Tuesday.

Wealthy CEOs and Hedge-fund Managers are Flocking to Miami for the Tax Breaks, and It’s Creating Massive Waiting Lists at the Area’s Elite Private Schools (Business Insider)
Wealthy CEOs and hedge-fund managers are flocking to Miami for the tax breaks, and it’s creating massive waiting lists at the area’s most elite private schools. These “tax refugees” are Wall Street hedge-fund managers, tech moguls, and other high earners from places like New York City, New Jersey, Connecticut, Chicago, and Silicon Valley, and they’re fleeing the effects of tax reform that went into effect in January 2018.

Cannabis Maker Aurora Picks Billionaire Investor Peltz as Adviser (Reuters)
(Reuters) – Canada’s Aurora Cannabis Inc on Wednesday tapped billionaire Nelson Peltz as a strategic adviser, betting on the consumer industry-focused veteran to help the recreational marijuana maker chart its expansion into new markets. Shares of the company jumped 10 percent after it offered Peltz the role and an option to buy nearly 20 million shares at C$10.34 a share, a small discount on the stock’s close of C$10.64 on Tuesday. This equates to a nearly 2 percent stake in the company, which would be vested every quarter over a four-year period, Aurora said.

Glass-Half-Full Hedge Funds May Get Doused (Bloomberg)
Fund managers appear to be betting that the long economic recovery and bull market will continue to age well. That wager, though, might be past its time. In Bank of America Merrill Lynch’s latest survey of active stock managers, which came out late Monday, strategists at the firm found that professional investors had upped their exposure to cyclical stocks to the highest level in four months as of the end of February. That was a quick turnaround from late last year, when enthusiasm for the sector was dropping. Back in October, fund managers recorded their lowest exposure to internet retailers since Bank of America began asking.

Hedge Funds Up 0.86 per cent in a Calm Month, Says Eurekahedge (HedgeWeek)
The Eurekahedge Hedge Fund Index gained 0.86 per cent in February, supported by the global equity market which continued to rebound over a potential resolution of the US-China trade friction. Hedge fund managers focusing on developed markets and Asia posted gains during the month, while Latin America and Eastern Europe mandates languished into the red. North American fund managers gained 1.46 per cent during the month, while those focusing on Asia ex-Japan generated 2.77 per cent returns. On a year-to-date basis, the two mandates were up 5.01 per cent and 5.32 per cent respectively. The market anticipation over the end of the trade war resulted in a strong boost for the Chinese equity markets, with most of the major Chinese equity indices recording double-digit gains over the month.

Insiders Buy at Hartford Financial, Weight Watchers (GuruFocus)
Weight Watchers: I find Weight Watchers meetings painfully dull, but the stock looks rather exciting to me. As recently as June 2018, less than nine months ago, Weight Watchers International Inc. (NASDAQ:WTW) shares sold for just over $100. Friday’s quote was under $20. Has the company gone down the tubes? I’d say no. Profits last year were $224 million on sales of $1.5 billion. Neither figure was a record but it was one of the company’s better years. Last month, Weight Watchers said that its number of subscribers had declined to about 3.9 million people from 4.2 million a quarter earlier. It estimated 2019 revenue at about $1.4 billion, also a decline. The stock dropped 25% in a day, and a cluster of shareholder class action lawsuits followed.

Wednesday 3/13 Insider Buying Report: XERS, ATEC (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. At Xeris Pharmaceuticals (XERS), a filing with the SEC revealed that on Monday, See Remarks Paul R. Edick bought 30,000 shares of XERS, at a cost of $9.12 each, for a total investment of $273,585. So far Edick is in the green, up about 6.6% on their buy based on today’s trading high of $9.72. Xeris Pharmaceuticals is trading up about 4.8% on the day Wednesday. This buy marks the first one filed by Edick in the past twelve months.

The President of Carolina Financial Corporation (NASDAQ: CARO) is Selling Shares (AnalystRatings)
Today, the President of Carolina Financial Corporation (CARO), Huggins, sold shares of CARO for $179.3K. Based on Carolina Financial Corporation’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $52.42 million and quarterly net profit of $15.44 million. In comparison, last year the company earned revenue of $40.65 million and had a net profit of $6.33 million. CARO’s market cap is $807.5M and the company has a P/E ratio of 16.12. Currently, Carolina Financial Corporation has an average volume of 7,605.

CMA To Retain Ksh458 Million ‘Income’ For Insider Trading Suspects In KenolKobil Takeover Deal (KahawaTungu)
Insider trading suspects led by Aly-Khan Satchu will have to forgo the amount they were to gain in Kenolkobil takeover deal, the Capital Markets Authority (CMA) has announced. CMA announced that the suspects were set to pocket an estimated Ksh458 million in the Ksh26 billion takeover by French firm Rubis Energie. In a statement, CMA said that the cash is contained in 14 accounts that were involved in dubious transactions last year at the commencement of the takeover deal.

Pzena Investment Management LLC Buys Lear Corp, General Electric Co, American International Group Inc, Sells Express Scripts Holding Co, Dover Corp, Murphy Oil Corp (GuruFocus)
New York, NY, based Investment company Pzena Investment Management LLC buys Lear Corp, General Electric Co, American International Group Inc, Stanley Black & Decker Inc, National Oilwell Varco Inc, Cigna Corp, Juniper Networks Inc, Gildan Activewear Inc, Halliburton Co, Varex Imaging Corp, Jabil Inc, Ryder System Inc, AECOM, JELD-WEN Holding Inc, Flex, WSFS Financial Corp, Avangrid Inc, REV Group Inc, C&J Energy Services Inc, KBR Inc, Synovus Financial Corp, Taiwan Semiconductor Manufacturing Co, and a lot more during the 3-months ended 2018Q4, according to the most recent filings of the investment company, Pzena Investment Management LLC. As of 2018Q4, Pzena Investment Management LLC owns 183 stocks with a total value of $17.1 billion. These are the details of the buys and sells.

TransDigm Group Incorporated (NYSE:TDG) Insider Trading Activity – Chairman Sold 17,083 shares of Stock (MarketExclusive)
Insider Trading Activity For TransDigm Group Incorporated (NYSE:TDG): W Nicholas Howley , Chairman of TransDigm Group Incorporated (NYSE:TDG) reportedly Sold 17,083 shares of the company’s stock at an average price of 430.45 for a total transaction amount of $7,353,377.35.

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