Disclosure-Shy Warren Buffett Must Really Like Bank of America Stock

Normally, Berkshire’s stock purchases and sales—and those of other institutional investors — are disclosed 45 days after the quarter ends. The SEC rule …

But as a holder of more than 10% of Bank of America (ticker: BAC), Berkshire is required under Securities and Exchange Commission rules to disclose transactions within two business days.

Normally, Berkshire’s stock purchases and sales—and those of other institutional investors — are disclosed 45 days after the quarter ends. The SEC rule is one reason why Buffett usually likes to keep Berkshire’s equity stakes under 10%.

Berkshire (BRK.A) has bought $1.2 billion of Bank of America stock from July 20 through July 27, adding to the company’s already large stake in the bank. Berkshire now owns 998 million shares worth $25 billion, making Bank of America the second largest equity holding at Berkshire behind Apple (AAPL).

Berkshire holds an 11.5% stake in Bank of America, whose shares ended Wednesday up 3.7%, to $25.27. Berkshire has paid an average price of about $24 a share for the recent purchases. Berkshire’s class A shares rose 1.2%, to $294,496 Wednesday.

Investors are normally limited to a 10% stake in a bank, but Berkshire asked and received permission from the Federal Reserve Bank of Richmond in April to go over that threshold.

The SEC describes the rule like this: “Section 16 of the Exchange Act applies to an SEC reporting company’s directors and officers, as well as shareholders who own more than 10% of a class of the company’s equity securities registered under the Exchange Act. The rules under Section 16 require these ‘insiders’ to report most of their transactions involving the company’s equity securities to the SEC within two business days on Forms 3, 4 or 5.”

Write to Andrew Bary at andrew.bary@barrons.com

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Global Venture Capital Investment Market 2020 | Growth, Share, Trends, Opportunities And …

… Capital, Lowercase Capital, Index Ventures, Sequoia Capital, Baseline Ventures, Union Square Ventures, First Round Capital, Founders Fund.

Global Venture Capital Investment Market 2020 – Industry Scenario, Strategies, Growth Factors and Forecast 2026

Recently, the Market Research Store published a new research report on the global Venture Capital Investment market. In this report you will find the thorough study on the past market scenarios on the basis of the data available along with the analysis about the current market scenario and the forecast about the market condition in the coming years. The report covers all the important aspects of the Venture Capital Investment market ranging from sales generated, revenue produced and the future expectations, profit margin, the price structure of all the segments, and all the other factors that influences the market scenario on the global platform.

Click Here to Get Sample PDF Copy of Latest Research on Venture Capital Investment Market 2020: http://www.marketresearchstore.com/report/global-venture-capital-investment-industry-market-report-2019-645964#RequestSample

The Venture Capital Investment market is segmented into {On-Premise, Cloud-Based}; {Small Business, Medium-sized Business, Large Business}. The regional presence of the market is distributed in five major regions such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Along with this the market information is segregated into country-wise data. Along with this the market dynamics and the current market strategies that are being used by the market players are explained in detail. Some of the major market players that are profiled in the Venture Capital Investment market report are New Enterprise Associates, Benchmark Capital, Breyer Capital, Lowercase Capital, Index Ventures, Sequoia Capital, Baseline Ventures, Union Square Ventures, First Round Capital, Founders Fund. The development trends and the competitive landscape analysis of all the key players have been included in the dossier.

To browse Full report description and TOC:: http://www.marketresearchstore.com/report/global-venture-capital-investment-industry-market-report-2019-645964

The Venture Capital Investment market report includes all the statistical data about the sales, volume, gross margin, consumption rate, value, and others. The market segmentation that has been included in the report will prove beneficial to our clients to find solutions to all their business queries. Each of the market players have been analyzed for their market position, revenue generation, sales volume and revenue, profit margin, individual growth factor, along with all the other economic analysis. Other facts about the market players that are included are their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotion that they have made.

Business events, including corporate deals, mergers and acquisitions, joint ventures, partnerships, product launches, and brand promotions are some of the business events made by key players.

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NOTE: The analysts have monitored the global market situation based on latest market scenario, economic slowdown, and COVID-19 impact on the overall industry.

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MATEON THERAPEUTICS INC : Unregistered Sale of Equity Securities, Other Events, Financial …

Item 3.02 Unregistered Sales of Equity Securities . On July 23, 2020 , Mateon Therapeutics, Inc. (the “Company”) entered into subscription agreements …

Item 3.02 Unregistered Sales of Equity Securities.

On July 23, 2020, Mateon Therapeutics, Inc. (the “Company”) entered intosubscription agreements with certain accredited investors (“SubscriptionAgreement”), whereby the Company issued and sold a total of 40 units (“Units”),with each Unit consisting of (i) 25,000 shares of the common stock, par value$0.01 per share (“Edgepoint Common Stock”), of EdgePoint AI, Inc., a DelawareCorporation (“EdgePoint”), a division of the Company, for a price of $1.00 pershare of Edgepoint Common Stock; (ii) one convertible promissory note issued bythe Company (the “Note”), convertible into up to 25,000 shares of EdgePointCommon Stock at a conversion price of $1.00 per share, or up to 138,889 sharesof the Company’s common stock, par value $0.01 per share (“Mateon CommonStock”), at a conversion price of $0.18 per share; and (iii) 100,000 warrants(the “Warrants”), consisting of (a) 50,000 warrants to purchase an equivalentnumber of shares of EdgePoint Common Stock at $1.00 per share (“EdgepointWarrant”), and (b) 50,000 warrants to purchase an equivalent number of shares ofCompany Common Stock at $0.20 per share (“Mateon Warrant”) (the “Financing”).

The Financing resulted in gross proceeds of $2.0 million to the Company.Placement agent fees of $256,000 were paid to JH Darbie & Co., Inc. (“JHDarbie”). JH Darbie and the Company are parties to a placement agent agreement,dated February 25, 2020 (“Agreement”) pursuant to which DH Darbie has the rightto sell a minimum of 40 Units and a maximum of 100 Units on a best effortsbasis. The issuance and sale of the Units on July 23, 2020 represented the firsttranche of the Financing (“First Tranche”).

In connection with the consummation of the First Tranche, the Company enteredinto a Registration Rights Agreement granting certain registration rights withrespect to the shares of Mateon Common Stock issued in connection with theFinancing, as well as the shares of Mateon Common Stock issuable upon exerciseof the Mateon Warrants.

The issuance of the Units is exempt from the registration requirements of theSecurities Act of 1933, as amended (“Securities Act”), in reliance on theexemptions provided by Section 4(a)(2) of the Securities Act as provided in Rule506 of Regulation D promulgated thereunder. The shares of Common Stock andWarrants and any shares of Common Stock issuable upon exercise of the Warrants,have not been registered under the Securities Act or any other applicablesecurities laws, and unless so registered, may not be offered or sold in theUnited States except pursuant to an exemption from the registration requirementsof the Securities Act.

The foregoing description of the Subscription Agreement, Agreement, EdgepointWarrants, Mateon Warrants, Note and Registration Rights Agreement are summaries,and are qualified by reference to such documents, which are attached hereto asExhibits 10.1, 10.2, 10.3, 10.4, 10.5 and 10.6, respectively.

Item 8.01 Other Events

On July 27, 2020, the Company issued a press release announcing the closing ofthe First Tranche. A copy of the press release is filed herewith as Exhibit99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.Exhibit No. Description10.1 Form of Subscription Agreement, dated July 23, 202010.2 Form of Placement Agency Agreement, dated February 25, 202010.3 Form of Edgepoint Warrant, dated July 23, 202010.4 Form of Mateon Warrant, dated July 23, 202010.5 Form of Note, dated July 23, 202010.6 Registration Rights Agreement, dated July 23, 202099.1 Press Release issued by the Company, dated July 27, 2020.

© Edgar Online, source Glimpses

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DURECT Corporation (NASDAQ: DRRX): Stock That Needs Special Handling

And Renaissance Technologies LLC has lifted its position by 23.44% or 0.99 million shares – to 5.21 million shares. With over 0.61 million DURECT …

Lion Point Capital LP recently announced the acquisition of new stake in DURECT Corporation (NASDAQ:DRRX). The institutional investor has increased its shareholding in the Healthcare company by 3.96% to 19.49 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 9.94% valued currently at $45.22 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.68 million to 8.86 million shares. And Renaissance Technologies LLC has lifted its position by 23.44% or 0.99 million shares – to 5.21 million shares.

With over 0.61 million DURECT Corporation (DRRX) shares trading Tuesday and a closing price of $1.98 on the day, the dollar volume was approximately $1.21 million. The shares have shown a negative weekly performance of -5.71% and its price on 07/28/20 lost nearly -3.88%. Currently, there are 195.75M common shares owned by the public and among those 192.80M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for DRRX have a consensus price objective of $5.33. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the DURECT Corporation stock is 2.00 for the next 12 months. But an upside of 67.0% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 285,318 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 97,208 shares.

The top 3 mutual fund holders in DURECT Corporation are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 5.7 million shares of the company’s stock, all valued at over $13.23 million. iShares Russell 2000 ETF sold -0.1 million shares to see its total holdings shrink to 4.07 million shares valued at over $9.43 million and representing 2.07% of the shares outstanding. Vanguard Extended Market Index Fu bought 26362.0 shares to bring its total holdings to over 2.88 million shares at a value of $6.67 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.47% of the shares outstanding.

Shares of DURECT Corporation (NASDAQ: DRRX) opened at $2.03, down -$0.03 from a prior closing price of $2.06. However, the script later closed the day at $1.98, down -3.88%. The company’s stock has a 5-day price change of -5.71% and -10.00% over the past three months. DRRX shares are trading -47.89% year to date (YTD), with the 12-month market performance up to 103.08% higher. It has a 12-month low price of $0.94 and touched a high of $3.95 over the same period. Currently, 0.61 million shares have been traded, compared to an average intraday trading volume of 1.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.60%, -14.46%, and -4.56% respectively.

Institutional ownership of DURECT Corporation (NASDAQ: DRRX) shares accounts for 50.70% of the company’s 195.75M shares outstanding. Mutual fund holders own 32.32%, while other institutional holders and individual stakeholders account for 39.59% and 10.49% respectively.

It has a market capitalization of $395.90M and a beta (3y monthly) value of 2.10. The earnings-per-share (ttm) stands at -$0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.35% over the week and 6.74% over the month.

Analysts forecast that DURECT Corporation (DRRX) will achieve an EPS of $0 for the current quarter, -$0.04 for the next quarter and -$0.21 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 27.00%, and -50.00% over the next financial year. EPS should grow at an annualized rate of 16.00% over the next five years, compared to 10.20% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate DURECT Corporation (DRRX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the DRRX, a number of firms have released research notes about the stock. B. Riley FBR stated their Buy rating for the stock in a research note on January 31, 2020, with the firm’s price target at $5. Cantor Fitzgerald coverage for the DURECT Corporation (DRRX) stock in a research note released on November 18, 2019 offered a Overweight rating with a price target of. Cantor Fitzgerald was of a view on September 06, 2019 that the stock is Overweight, while H.C. Wainwright gave the stock Buy rating on March 06, 2018, issuing a price target of $3.50. Laidlaw on their part issued Buy rating on October 20, 2017.

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Here’s What Lantheus Holdings, Inc.’s (NASDAQ:LNTH) Shareholder Ownership Structure Looks …

BlackRock, Inc. is currently the largest shareholder, with 8.8% of shares outstanding. In comparison, the second and third largest shareholders hold …

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock’s expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.

Insider Ownership Of Lantheus Holdings

The definition of company insiders can be subjective, and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Shareholders would probably be interested to learn that insiders own shares in Lantheus Holdings, Inc.. It is a pretty big company, so it is generally a positive to see some potentially meaningful alignment. In this case, they own around US$19m worth of shares (at current prices). Most would say this shows alignment of interests between shareholders and the board. Still, it might be worth checking if those insiders have been selling.

General Public Ownership

With a 32% ownership, the general public have some degree of sway over LNTH. While this group can’t necessarily call the shots, it can certainly have a real influence on how the company is run.

Next Steps:

It’s always worth thinking about the different groups who own shares in a company. But to understand Lantheus Holdings better, we need to consider many other factors. Case in point: We’ve spotted 3 warning signs for Lantheus Holdings you should be aware of, and 1 of them is significant.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.

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