When Young Beats Old (Hedge Nordic)
Stockholm (HedgeNordic) – Adrigo Hedge, once the flagship hedge fund of Adrigo Asset Management, will be merged into the stronger-performing Adrigo Small & Midcap L/S on October 1. Staffan Östlin (pictured), who has been managing Adrigo Small & Midcap L/S since its inception in November 2017, took over the management of Adrigo Hedge following East Capital’s acquisition of Adrigo Asset Management last year. “In order to streamline our fund offering and increase operational efficiency within portfolio management, Adrigo Hedge will be merged into Adrigo Small & Midcap L/S on 1 October 2020,” according to a press release by Adrigo, which is now the absolute return and specialized strategies platform of East Capital. Whereas Adrigo Small & Midcap L/S has generated an annualized return of 15 percent since launching in November of 2017, Adrigo Hedge has accumulated a cumulative loss of almost 14 percent over the same period.
Investors Integrating ESG Can Indeed Do Well by Doing Good (Preqin.com)
A key question for LPs considering environmental, social, and governance (ESG) and impact investment opportunities is whether they can do well by doing good. Some LPs worry that by focusing on ESG and impact investing, the range of deals available to them is narrower. As a result, there may be missed opportunities to generate the returns they might otherwise enjoy. But as the ESG and impact investing universe continues to expand, how valid is this concern? Should investors expect a trade-off between values and performance?
The Estee Lauder Inc (EL) President and CEO Fabrizio Freda Sold $40.7 million of Shares (Guru Focus)
President and CEO of The Estee Lauder Inc, Fabrizio Freda, sold 183,822 shares of EL on 08/31/2020 at an average price of $221.29 a share. The total sale was $40.7 million. The Estee Lauder Companies Inc is a beauty products manufacturer providing Skin care, Makeup, Fragrance and Hair care services. The Estee Lauder Companies Inc has a market cap of $79.73 billion; its shares were traded at around $220.99 with a P/E ratio of 120.77 and P/S ratio of 5.66.
Wednesday 9/2 Insider Buying Report: IMBI, BMRN (Nasdaq.com)
At iMedia Brands, a filing with the SEC revealed that on Friday, Director Eyal Lalo bought 256,000 shares of IMBI, for a cost of $6.25 each, for a total investment of $1.6M. Lalo was up about 16.2% on the purchase at the high point of today’s trading session, with IMBI trading as high as $7.26 in trading on Wednesday. iMedia Brands is trading up about 3.1% on the day Wednesday. Before this latest buy, Lalo made one other buy in the past year, purchasing $1.41M shares at a cost of $2.04 a piece. And on Monday, Director David E. I. Pyott purchased $1.00M worth of BioMarin Pharmaceutical, purchasing 12,800 shares at a cost of $78.26 a piece. This purchase marks the first one filed by Pyott in the past year. BioMarin Pharmaceutical is trading up about 2.2% on the day Wednesday. Investors can pick up BMRN at a price even lower than Pyott did, with shares trading as low as $76.12 at last check today which is 2.7% under Pyott’s purchase price.
A Director at Global Indemnity (NASDAQ: GBLI) is Buying Shares (Analyst Ratings)
Yesterday, a Director at Global Indemnity (GBLI), Saul Fox, bought shares of GBLI for $14.19M. This recent transaction increases Saul Fox’s holding in the company by 57.15% to a total of $39.61 million. Following Saul Fox’s last GBLI Buy transaction on October 27, 2010, the stock climbed by 7.9%. Based on Global Indemnity’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $179 million and quarterly net profit of $37.55 million. In comparison, last year the company earned revenue of $146 million and had a net profit of $14.66 million. GBLI’s market cap is $333 million and the company has a P/E ratio of 11.90. Currently, Global Indemnity has an average volume of 222.11K.
Ametek Inc (AME) Executive VP – CFO William Joseph Burke Sold $1.7 million of Shares (Guru Focus)
Executive VP – CFO of Ametek Inc, William Joseph Burke, sold 16,418 shares of AME on 09/01/2020 at an average price of $102.05 a share. The total sale was $1.7 million. AMETEK Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. AMETEK Inc has a market cap of $23.42 billion; its shares were traded at around $102.00 with a P/E ratio of 26.42 and P/S ratio of 4.90.
