Activist Investor Starboard Is Pushing for Changes at GoDaddy (Bloomberg)
Activist investor Starboard Value disclosed a stake in website services company GoDaddy Inc. and said it may push for changes to improve the stock’s performance. The New York-based hedge fund said in a regulatory filing that it held a 6.5% stake in the technology company, which it believes is undervalued.
A Self-Taught Coder Turned Hedge Fund Manager Explains Why Traders Should be Positioning for a Trump Re-election – and Lays Out a Big Bet He’s Making on Healthcare (Business Insider)
Lukasz Tomicki, founder and portfolio manager of LRT Capital Management, thinks it would be a “big surprise” if Donald Trump is not re-elected in 2020. Since Tomicki thinks Trump is likely to win the election – based on the historical track record – he’s betting that major reform will not take place in the healthcare space. He also sees that maintained status quo translating into growth.
Hedge Funds Protect Wealth Despite Having Their Worst Month Since March 2020 (Forbes)
Hedge funds were in the red for November, but they protected wealth, with the average hedge fund declining less than major stock market indices. However, PivotalPath reports that they had their worst month since the depths of the pandemic in March 2020.
Photo by Marga Santoso on Unsplash
Quentin Koffey Envisions a New Centene. And He’s Done It Before (STLToday.com)
CAYTON — An activist investor spurring a leadership overhaul at Clayton-based Centene has a track record of quietly buying into companies, gaining board seats and replacing management. Before starting his own hedge fund earlier this year, Politan Capital Management founder Quentin Koffey bargained with other large public companies in the energy, agriculture and retail sectors.
Hedge Funds Bet £800m on Retail Slump (The Times)
Hedge funds are betting £800 million against British retailers next year and have put online “pandemic winners” in their crosshairs. Retailers were being targeted even before disappointing Boxing Day sales figures yesterday, with high Covid-19 infection rates and tighter restrictions in some parts of the UK keeping shoppers away from high streets.
Sepio Capital LP Sells 12,086 Shares of Cerner Co. (NASDAQ:CERN) (ETF Daily News)
Sepio Capital LP cut its stake in shares of Cerner Co. (NASDAQ:CERN) by 36.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,409 shares of the company’s stock after selling 12,086 shares during the period. Sepio Capital LP’s holdings in Cerner were worth $1,510,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds also recently made changes to their positions in CERN. Private Capital Group LLC increased its position in shares of Cerner by 601.8% in the third quarter.
Ares Acquires AMP Capital’s Infra Debt Platform (Opalesque.com)
The global alternative investment manager Ares Management Corporation said that its subsidiary, Ares Holdings, has entered into a definitive agreement to acquire AMP’s PrivateMarketsCo Infrastructure Debt platform, one of the largest infrastructure debt investment platforms globally with approximately US$8 billion in assets under management. The transaction consideration is US$308 million and will be funded using cash on hand and Ares’ US$1.1 billion revolving credit facility. AMP said it planned to use the cash to strengthen its balance sheet while it completes the demerger. Ares said the purchase would help accelerate its expertise in infrastructure, which is currently focused on infrastructure equity and flexible capital.
Monday 12/27 Insider Buying Report: IQV, CTRN (Nasdaq.com)
On Wednesday, IQVIA Holdings’ Director, John G. Danhakl, made a $2.73M buy of IQV, purchasing 10,000 shares at a cost of $272.93 each. So far Danhakl is in the green, up about 3.3% on their purchase based on today’s trading high of $282.00. IQVIA Holdings is trading up about 1.3% on the day Monday. This purchase marks the first one filed by Danhakl in the past twelve months. And on Thursday, Director Kenneth Duane Seipel bought $211,456 worth of Citi Trends, buying 2,950 shares at a cost of $71.68 each. This purchase marks the first one filed by Seipel in the past twelve months. Citi Trends is trading up about 2.3% on the day Monday. So far Seipel is in the green, up about 9.3% on their purchase based on today’s trading high of $78.33.
The Chairman of Lundin Mining (Other OTC: LUNMF) is Buying Shares (Analyst Ratings)
Yesterday, the Chairman of Lundin Mining (LUNMF), Lukas Henrik Lundin, bought shares of LUNMF for $949.2K. In addition to Lukas Henrik Lundin, 2 other LUNMF executives reported Buy trades in the last month. Based on Lundin Mining’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $756 million and quarterly net profit of $174 million.
Sebi Fines Two Employees of Mindtree, Two Others of Titan Company (Live Mint)
Markets regulator Securities and Exchange Board of India (Sebi) imposed a monetary fine of 1 lakh each on two employees of Mindtree Ltd and Titan company Ltd for violating insider trading norms. Mindtree had informed Sebi regarding instances of the violation of the code of conduct framed by the company under the Prohibition of Insider Trading (PIT) norms by two of its employees.
