Entity Tied to Billionaire Ken Griffin Snaps Up Miami Lots for $37 Million (Barron’s)
The pandemic has done little to slow down billionaire hedge funder – and avid trophy-home collector – Ken Griffin. An entity tied to Mr. Griffin’s hedge fund Citadel Securities has snapped up two vacant lots on Star Island – a tiny floating enclave off of Miami Beach studded with celebrities and financial titans – for $37 million, according to documents filed Monday with Miami-Dade County. That’s chump change compared to the $238 million pied-a-terre Mr. Griffin, 51, acquired last year on New York City’s Billionaires’ Row. And the oceanfront spread is a drop in the bucket relative to his global property portfolio, which ranges from a sprawling assemblage in nearby Palm Beach, Florida, to a historic London mansion he bought last year for the equivalent of $122 million. An email sent to Mr. Griffin’s hedge fund was not immediately returned.
Q2 2020 Hedge Fund Asset Flows (Preqin.com)
Hedge fund assets under management have risen in the past quarter. In Q1 2020 industry AUM dipped below $3.5tn for the first time since Q4 2018; fast-forward three months and a recovery in performance in Q2 (+11.48%) has offset Q1’s net outflows, returning AUM above this threshold to stand at $3.58tn. In this factsheet, we present hedge fund asset flow data for Q2 2020, including breakdowns by strategy, region, past performance, and fund size.
Nicolai Tangen Pays a Big Price for His New Gig (Economist.com)
The biggest crisis in the 24-year history of the world’s biggest sovereign-wealth fund was defused at the very last minute. On August 24th Norges Bank Investment Management (nbim) announced that Nicolai Tangen, its incoming boss, would liquidate his entire stake in ako Capital, the $20bn hedge fund he founded. He will transfer it to ako Foundation, a charity he set up in 2013. He will also sell his personal investments and park the proceeds in a bank account. Although Mr Tangen had previously ruled out selling up, he gave in to mounting political pressure in order to begin what he has called his “dream job” on September 1st.
An Insider at Diodes (NASDAQ: DIOD) is Selling Shares (Analyst Ratings)
Yesterday, an Insider at Diodes (DIOD), Raymond Soong, sold shares of DIOD for $1.85M. In addition to Raymond Soong, 4 other DIOD executives reported Sell trades in the last month. The company has a one-year high of $59.70 and a one-year low of $31.51. DIOD’s market cap is $2.63 billion and the company has a P/E ratio of 20.50. Currently, Diodes has an average volume of 201.29K.
Thursday 8/27 Insider Buying Report: FTK (Nasdaq.com)
On Monday, Flotek Industries’ Director, David Nierenberg, made a $1.38M buy of FTK, purchasing 690,147 shares at a cost of $2.00 a piece. So far Nierenberg is in the green, up about 17.7% on their buy based on today’s trading high of $2.35. Flotek Industries is trading up about 1.8% on the day Thursday. Before this latest buy, Nierenberg bought FTK on 2 other occasions during the past twelve months, for a total cost of $926,748 at an average of $2.43 per share.
Salesforce.com Inc (CRM) Chair of the Board & CEO Marc Benioff Sold $3.6 million of Shares (Guru Focus)
Chair of the Board & CEO of Salesforce.com Inc., Marc Benioff, sold 13,402 shares of CRM on 08/26/2020 at an average price of $268.1 a share. The total sale was $3.6 million. Salesforce.com Inc is a software-as-a-service company that provides enterprise cloud computing solutions, offering social and mobile cloud apps and platform services, as well as professional services to facilitate the adoption of its solutions. Salesforce.com Inc has a market cap of $245.36 billion; its shares were traded at around $272.32 with a P/E ratio of 106.38 and P/S ratio of 12.75. Salesforce.com Inc had annual average EBITDA growth of 29.10% over the past ten years. GuruFocus has detected 1 severe warning sign with Salesforce.com Inc.
Voting Groups Get $38 million Boost from Donor Funds Backed by Wealthy Democrats (CNBC)
A new group of donor funds backed by Wall Street executive Mike Novogratz and his allies has raised $38 million from prominent Democratic donors to support organizations that aim to get out the vote this fall. The group, One for Democracy, has multiple funds. Donors are encouraged to pledge 1% of their net worth or total assets toward the organization, which then sends those contributions to nonprofits across the country.
The VP Finance & HR of XBiotech (NASDAQ: XBIT) is Selling Shares (Analyst Ratings)
Yesterday, the VP Finance & HR of XBiotech (XBIT), Queena Han, sold shares of XBIT for $1.02M. Over the last month, Queena Han has reported another 3 Sell trades on XBIT for a total of $380.8K. Following Queena Han’s last XBIT Sell transaction on August 21, 2020, the stock climbed by 0.6%. Based on XBiotech’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $12.68 million and GAAP net loss of -$14,000. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $5.85 million.
