Starboard Value cut its Cars.com stake aggressively after the online auto retailer's strategic search failed and the company announced disappointing Q2 results. In a 13D/A filing submitted Wednesday afternoon, the hedge fund disclosed selling 4.47 million shares of the online automobile retailer on August 5-6 at prices ranging from $11.71 to $10.04.
Starboard...
Insiders buy market crashes, backing up the truck if their shares get cheap enough. The smartest fund managers can make their year -- even careers -- acquiring great companies at phenomenal bargains during market crashes. True market crashes are rare--black swans. But garden variety "panics" occur fairly often. Whatever volatility the market has in store,...
Activist Cannell Capital raised its stake in Lee Enterprises (LEE) to 7.37%. The hedge fund filed a 13D/A on July 30 disclosing a 1.7 million additional share purchase of the newspaper publisher. Cannell is now LEE's largest shareholder.
Lee Enterprises owns 49 daily newspapers and a joint interest in four others, nearly...
Solid Biosciences' private placement featured investments by an all star list of top biotech institutional investors.
Cambridge-based Solid Biosciences (SLDB) trades at 1/3 of its January 2018 IPO value. But based on the A-list biotech investors buying shares in the company's July 26 $60 million private placement, the biotech company's stock may have found...
Lottery ticket stocks are equities perceived by investors to provide a small chance of a huge payoff. Like playing the lottery, many investors find these stocks -- usually low-priced, thinly traded with little or no earnings -- very alluring. However, studies show that -- like the lottery -- gambling on lottery ticket stocks isn't profitable. ...
Light Street Capital filed a 13G on Monday July 22, disclosing a 5.2% stake in cybersecurity firm Carbon Black, Inc. (CBLK).
The Palo Alto-based hedge fund acquired the $69 million CBLK position as cyber attacks become an increasing problem for U.S. corporations, and spending on computer security technology proliferates. Waltham, MA-based Carbon Black...
Abdiel Capital Advisors has never held more than 9 long positions since the 4th quarter of 2015. Over that period, the $1.4 billion hedge fund has averaged a 55.1% annual return (based on 13F filings). Abdiel's portfolio concentration is anathema to Modern Portfolio Theory, which preaches diversification -- reducing risk by not putting all your eggs in...
The Tiger Cub Hedge Funds market-beating performance continues. Though Julian Robertson's Tiger Management folded up its tent nearly two decades ago, his protégés are doing him proud. A portfolio of top holdings of hedge funds linked to Tiger Management was up 14.94% year-to-date through Q2's end. That's compared to the S&P 500's total return of 9.48% YTD....
Twenty-two minutes after regular market hours closed on July 2, an Orbimed Advisors Form 4 relating to Corvus Pharmaceuticals Inc (CRVS) was posted on the SEC's website. The hedge fund, a 10%+ holder and insider in CRVS, disclosed that between June 27 and July 1 it had bought 657,344 shares of CRVS stock on the open...
On June 28, Archon filed a 13G on AquaBounty Technologies Inc (AQB) , disclosing a passive 8.39% position. In 2020 AquaBounty is set to sell the only genetically engineered (GE) animal in the world that’s been deemed safe to eat: Atlantic salmon modified to grow faster.
The market for GE salmon appears large, though...