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Hedge Fund and Insider Trading News: Richard McGuire, Eddie Lampert, Magnachip Semiconductor Corp (MX), Legacy Reserves Inc (LGCY), ORBCOMM Inc (ORBC), and More

This Activist Investor Should’ve Believed More in His Plan (Bloomberg)
Spoke too soon. The last time I wrote about our old friend Richard “Mick” McGuire, Activist Investor, I gave him credit for knowing how to make a buck, though I was admittedly dubious about the value of his so-called shareholder activism. In particular, I pointed to the 2017 returns of his hedge fund, Marcato Capital Management LP, which were stellar: up 21 percent.

Eddie Lampert Gets Another Shot to Keep Sears Alive (The Wall Street Journal)
Eddie Lampert Gets Another Shot to Keep Sears Alive. Sears Holdings Corp. isn’t dead yet, and billionaire Edward Lampert still has a chance to keep the storied retailer alive when he gets to face off with liquidators at a Monday auction.

Covalis Capital's Returns, AUM and Holdings

Rawpixel.com/Shutterstock.com

Hedge Fund Chairman Bill Miller Skeptical of ‘OVERDONE’ Ripple (Bitcoinist.com)
Miller Value Partners (MVP) chairman & CIO Bill Miller has reiterated his faith in Bitcoin while publicly voicing suspicion about Ripple. Miller Consolidates Bitcoin Holdings: Speaking to CNBC in an interview January 9, Miller, whose fund began buying up Bitcoin in 2014, said he had since “spun off” its Bitcoin and Bitcoin Cash holdings into a separate fund. “We’ve retained about a ten percent weighting in Bitcoin and Bitcoin Cash together, and the other 90 percent is now in a separate fund,” he told the network.

Hedge Funds Have Lost Their Rhythm (Bloomberg)
Efficient markets: Robin Wigglesworth has an article at the Financial Times about how algorithmic investing increases volatility, electronic trading leads to flash crashes, trend-following and volatility-targeting quantitative trading strategies are pro-cyclical, etc., the normal list of complaints. These complaints strike me as debatable—not that long ago people were worried that algorithmic trading created too little volatility—but plausible, and they are certainly the right category of complaints.

Insider Buying: Magnachip Semiconductor Corp (NYSE:MX) Major Shareholder Acquires $3,605,000.00 in Stock (PressOracle.com)
Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Capital Management, Lp acquired 515,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The shares were acquired at an average price of $7.00 per share, for a total transaction of $3,605,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Insider Buying: Legacy Reserves Inc (LGCY) Major Shareholder Purchases 110,000 Shares of Stock (FairFieldCurrent.com)
Legacy Reserves Inc (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc acquired 110,000 shares of Legacy Reserves stock in a transaction dated Friday, December 14th. The shares were purchased at an average cost of $1.51 per share, with a total value of $166,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission.

Insider Selling: ORBCOMM Inc (ORBC) CEO Sells 37,729 Shares of Stock (MaconDaily.com)
ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 37,729 shares of the company’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $8.60, for a total transaction of $324,469.40. Following the completion of the transaction, the chief executive officer now directly owns 439,542 shares of the company’s stock, valued at approximately $3,780,061.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Fluent Inc (FLNT) Insider Purchases $457,499.00 in Stock (FairFieldCurrent.com)
Fluent Inc (NASDAQ:FLNT) insider Matthew Conlin purchased 130,714 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average price of $3.50 per share, with a total value of $457,499.00. The acquisition was disclosed in a document filed with the SEC.

Insider Selling: 1-800-Flowers.Com Inc (FLWS) CEO Sells 25,000 Shares of Stock (MareaInformativa.com)
1-800-Flowers.Com Inc (NASDAQ:FLWS) CEO Christopher G. Mccann sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $12.51, for a total transaction of $312,750.00. Following the transaction, the chief executive officer now owns 943,328 shares of the company’s stock, valued at $11,801,033.28. The transaction was disclosed in a document filed with the SEC.

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