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Buffett sells BYD shares; a 51% WeWork bid: Insider trades & hedge funds weekly

Published Nov 06, 2023 06:13AM ET
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Investing.com — Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: Berkshire Hathaway sells $25.8 million worth of shares in China's BYD, Cole Capital Funds seeks to acquire 51% of WeWork, and top brass buys at Align Technology, Arbor Realty Trust, Loews, Greenbrier, and Fifth Third Bancorp.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Berkshire Hathaway sells $25.8 million worth of shares in China's BYD

Warren Buffett's investment firm Berkshire Hathaway (NYSE:BRKa) sold 820,500 shares of the Hong Kong-listed electric vehicle manufacturer BYD (SZ:002594) (OTC:BYDDY), raking in HK$201.73 million ($1 = HK$7.82), according to a recent regulatory filing.

The transaction, which took place on October 25, reduced Berkshire's stake in BYD's issued H-shares to 7.98% from 8.05%, as revealed in the filing with the Hong Kong Stock Exchange on Tuesday.

Cole Capital Funds seeks to acquire 51% of WeWork for $9 share

Cole Capital Funds has submitted a letter to the Board of Directors of WeWork (NYSE:WE) proposing the acquisition of a 51% majority stake in the company. The proposed purchase price is set at $9.00 per share for all outstanding shares held by minority shareholders. Additionally, Cole Capital Funds is seeking proper representation on WeWork's board, believing this acquisition to be in the best interest of the company.

InvestingPro | Know Market Moves

A raft of insider buys from company CEOs and directors

Align Technology (NASDAQ:ALGN) President and CEO, Joseph Hogan, purchased 5,319 common shares, or worth about $1M, at $188.

Arbor Realty Trust (NYSE:ABR) Chairman/CEO/President, purchased 80,161 common shares, or worth nearly $1M, at $12.47.

Loews (NYSE:L) (NYSE:{{13083|L}}) Director, Jonathan Locker, purchased 15,870 common shares, or worth more than $1M, at $63.75.

Greenbrier (NYSE:GBX) Director, Patrick Ottensmeyer, purchased 10,000 common shares, or worth $338,579, at $33.8579.

Fifth Third Bancorp (NASDAQ:FITB) Director, Bryan Daniels, purchased 64,500 common shares, or worth more than $1.5M, at an average price of $23.31 per share.

***

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Buffett sells BYD shares; a 51% WeWork bid: Insider trades & hedge funds weekly
 

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Comments (3)
Allan Ng
Allan Ng Jan 18, 2024 2:04PM ET
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this is Nov 2023 article.. please remove it
Stephen Kaczmarek
Stephen Kaczmarek Jan 18, 2024 2:04PM ET
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agree Year old article
Tre Hsi
Tre Hsi Jan 04, 2024 11:24AM ET
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$9/share for WeWork?  this is nearly as bad as the Elon Musk $44B bid for Twitter
Abdi Mughni
Abdi Mughni Nov 06, 2023 11:42AM ET
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my lucky
Carl Tom
Carl Tom Nov 06, 2023 11:42AM ET
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Pump and Dump. look behind you
 
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