Barington Condemns Hanesbrands’ Management: Insider Trades & Hedge Funds Weekly

Mark Eisenberg
Photo: Finoracle.me

In this week’s Pro Recap, we highlight some of the biggest insider trades and institutional investor news that made headlines. Barington, an activist investor, has called for changes at Hanesbrands, urging the company to reduce costs and debt. Jana Partners increased its stake in Treehouse Foods, adding more shares worth over $2 million. Additionally, there were notable insider trades at VF, Axalta Coating Systems, and Asana. Let’s delve into the details of these developments.

Barington Calls for Changes at Hanesbrands

Activist investor Barington sent a letter to Hanesbrands’ chairman, calling for cost and debt reduction and questioning the effectiveness of the leadership. Barington expressed concerns about the company’s declining stock price and urged it to cut SG&A expenses, reduce inventories, improve margins, and consider new management. Hanesbrands responded by expressing its commitment to progress and regularly engaging with shareholders, including Barington, to understand their perspectives.

Jana Partners Increases Stake in Treehouse Foods

Jana Partners, an activist hedge fund, added 41,500 shares of Treehouse Foods to its stake, worth over $1.9 million. With this purchase, Jana now owns a total of 4,795,414 shares in the company. This move indicates Jana’s confidence in Treehouse Foods and its potential for growth. It will be interesting to see how this increased stake influences the company’s future decisions and strategy.

VF Director Buys 40,000 Shares

Richard Carucci, a director at VF, purchased 40,000 common shares of the company, worth $763,644. Carucci now owns a total of 162,699.331 shares in VF. This insider buy demonstrates Carucci’s confidence in the company’s prospects and may signal positive developments on the horizon for VF. Investors will be keeping a close eye on any potential impact this insider trade may have on VF’s stock price.

Axalta Coating Systems CEO Purchases 33,710 Shares

Chris Villavarayan, the CEO of Axalta Coating Systems, bought 33,710 common shares of the company, worth over $1 million. Following this purchase, Villavarayan now owns 68,150 shares in Axalta Coating Systems. This insider trade suggests that the CEO has faith in the company’s future performance and may hint at positive developments within the organization. Investors will be monitoring any potential effects of this insider buy on Axalta Coating Systems’ stock.

Asana CEO Adds Another 160,000 Shares

Dustin Moskovitz, CEO of Asana, purchased an additional 160,000 common shares of the company, worth around $34.4 million. This latest purchase is part of Moskovitz’s disclosed plan to buy up to 30 million shares of common stock before the end of 2023. The CEO’s continued accumulation of shares highlights his belief in Asana’s long-term potential and may instill confidence in other investors as well. This insider trade could impact Asana’s stock price and shape perceptions about the company’s outlook.

In conclusion, this week’s Pro Recap highlighted significant insider trades and institutional investor news. Barington’s push for changes at Hanesbrands and Jana Partners’ increased stake in Treehouse Foods indicate investors’ desire for strategic shifts and growth potential. The insider buys by VF’s director, Axalta Coating Systems’ CEO, and Asana’s CEO further signify confidence in their respective companies. These developments can offer valuable insights to investors and may impact the stock performance of the companies involved.

Analyst comment

Positive news: Barington calls for changes at Hanesbrands, Jana Partners increases stake in Treehouse Foods, VF director buys shares, Axalta Coating Systems CEO purchases shares, Asana CEO adds more shares.

Analyst view: The market may respond positively to these developments as they indicate investor confidence and belief in the companies’ prospects. Strategic shifts and potential growth opportunities could drive stock performance.

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Mark Eisenberg is a financial analyst and writer with over 15 years of experience in the finance industry. A graduate of the Wharton School of the University of Pennsylvania, Mark specializes in investment strategies, market analysis, and personal finance. His work has been featured in prominent publications like The Wall Street Journal, Bloomberg, and Forbes. Mark’s articles are known for their in-depth research, clear presentation, and actionable insights, making them highly valuable to readers seeking reliable financial advice. He stays updated on the latest trends and developments in the financial sector, regularly attending industry conferences and seminars. With a reputation for expertise, authoritativeness, and trustworthiness, Mark Eisenberg continues to contribute high-quality content that helps individuals and businesses make informed financial decisions.​⬤