Stock Markets
Saba capital management buys Adams Natural Resources shares worth $772k
In a recent transaction, Saba Capital Management, L.P., a significant shareholder in Adams Natural Resources Fund, Inc. (NYSE:PEO), has expanded its holdings in the company with the purchase of additional shares valued at a total of approximately $772,000. The investment firm, known for its active management in various funds, acquired the shares over two consecutive days, reflecting confidence in the energy and natural resources-focused investment company.
The transactions, which took place on June 25 and June 26, saw Saba Capital Management purchase 20,247 and 12,850 shares of Adams Natural Resources Fund, Inc., respectively. The prices paid for these shares ranged narrowly between $23.34 and $23.35. Following these purchases, Saba Capital’s total ownership in the fund has increased, signaling a bullish stance on the company’s prospects.
Saba Capital Management, founded by Boaz Weinstein, is recognized for its strategic investments and has been a ten percent owner of Adams Natural Resources Fund, Inc. These recent purchases further solidify its position and commitment to the company.
Investors often monitor the buying and selling activities of significant shareholders as an indication of their confidence in a company’s performance and future outlook. The recent acquisitions by Saba Capital Management may thus be of interest to current and potential investors of Adams Natural Resources Fund, Inc.
The fund, which trades under the ticker NYSE:PEO, has a history that dates back to its former name, Petroleum & Resources Corp., and specializes in investments in the energy and natural resources sectors. With these sectors often subject to volatility due to fluctuating commodity prices and global economic conditions, the actions of experienced investment firms like Saba Capital Management are closely watched.
The official filings detailing these transactions have been signed by representatives from Saba Capital Management, including Zachary Gindes, as well as by Boaz Weinstein himself, with the signature date marked as June 27, 2024. These documents provide transparency and are part of the regulatory requirements that govern the disclosure of significant share transactions.
InvestingPro Insights
Amidst Saba Capital Management’s increased stake in Adams Natural Resources Fund, Inc. (NYSE:PEO), current and prospective investors may find additional context in the company’s financial health and market performance. Adams Natural Resources Fund, Inc. holds a market capitalization of approximately $597.29 million, reflecting its standing in the energy and natural resources sectors.
Despite a challenging environment marked by a revenue decline of 7.49% over the last twelve months as of Q4 2023, the company has demonstrated a remarkable gross profit margin of 100%, indicating its ability to maintain profitability in its operations. This resilience is further underscored by an operating income of $17.09 million during the same period. Moreover, the fund has a noteworthy track record of dividend reliability, having maintained dividend payments for an impressive 53 consecutive years, with a current dividend yield of 1.71% as of the latest data.
InvestingPro Tips reveal that Adams Natural Resources Fund, Inc. is trading near its 52-week high, with the price at 96.37% of this peak, reflecting investor confidence and a potentially bullish outlook for the stock. Additionally, the company has been profitable over the last twelve months. For those considering a deeper dive into the company’s valuation and performance metrics, InvestingPro offers additional insights; there are more tips available to help guide investment decisions, including an analysis of the company’s valuation which implies a poor free cash flow yield and its low price volatility characteristic.
Investors looking to leverage these insights for a more informed investment strategy can access further detailed analysis on Adams Natural Resources Fund, Inc. at InvestingPro. To enrich your investment toolkit, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the full range of InvestingPro Tips available for this company and others in the sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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