Citadel Securities Revenue Surges to $4.2 Billion on Volatility (Bloomberg)
Ken Griffin’s Citadel Securities raked in a record $4.2 billion in first-half net trading revenue, capitalizing on this year’s surge in market volatility and stepping up its competition with the biggest banks. Revenue soared about 23% from last year’s first half, according to people with knowledge of the situation. Citadel Securities has posted 10 consecutive quarters of net trading revenue in excess of $1 billion, with eight of those surpassing $1.5 billion, the people said, asking not to be identified disclosing private information.
‘Big Short’ Hero Michael Burry Dumps Most of His Stock Holdings (The Wall Street Journal)
Michael Burry, the hedge-fund manager who won fame for betting against the U.S. housing market before the 2008 financial crisis, revealed in a securities filing today that he almost completely pulled out of stocks last quarter. The filing from Mr. Burry’s firm, Scion Asset Management LLC, showed that as of June 30 it held the shares of just one company: private-prison operator GEO Group. GEO shares shot up 11% on the news. Scion held $3.3 million of the company’s stock at the end of the second quarter, the filing showed.
Tuesday 8/16 Insider Buying Report: KIND, HUN (Nasdaq.com)
At Nextdoor Holdings, a filing with the SEC revealed that on Friday, Director David L. Sze purchased 3,100,000 shares of KIND, for a cost of $2.98 each, for a total investment of $9.25M. So far Sze is in the green, up about 12.6% on their buy based on today’s trading high of $3.36. Nextdoor Holdings is trading up about 3.5% on the day Tuesday. Before this latest buy, Sze made one other buy in the past year, purchasing $19.43M shares for a cost of $3.33 a piece. And on Thursday, Curtis E. Espeland bought $452,644 worth of Huntsman, buying 15,000 shares at a cost of $30.18 a piece. This purchase marks the first one filed by Espeland in the past year. Huntsman is trading up about 1.3% on the day Tuesday. Bargain hunters have the opportunity to grab HUN even cheaper than Espeland did, with shares trading as low as $29.73 at last check today which is 1.5% under Espeland’s purchase price.
Two Sigma, Soros Among Hedge Funds Positioned for Tech Comeback (Reuters)
NEW YORK, Aug 15 (Reuters) – Two Sigma Investments, Hudson Bay Capital Management, and Soros Fund Management were among the prominent hedge funds that added stakes in mega-cap technology companies in the last quarter, positioning themselves to potentially benefit from the recent comeback in growth stocks.
XPEL Director Trades $10.13M In Company Stock (Benzinga)
Mark Adams, Director at Xpel Inc (XPEL), reported a large insider sell on August 15, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Adams sold 125,000 shares of XPEL. The total transaction amounted to $10,125,616.
