The owner of the Los Angeles Times is in talks to sell the paper to a local biotech billionaire, the latest twist in a chaotic few months for the nation’s largest metro newspaper, sources familiar with the matter told CNNMoney.
Michael Ferro, who controls the paper’s parent company Tronc, is negotiating with Patrick Soon-Shiong, a Tronc investor and physician who has been dubbed “the world’s richest doctor.”
The deal, if reached, could see Soon-Shiong buying both the Los Angeles Times and the San Diego Union-Tribune for roughly $500 million plus pension liabilities, according to one source with knowledge of the matter.
The $500 million price tag would put the two papers at twice the price of the Washington Post when Amazon founder Jeff Bezos bought it in 2013 — a valuation that is likely to mystify industry observers.
News of a possible deal was first reported by the Washington Post. NPR and the Los Angeles Times itself have also reported on the talks.
Top Biotech Stocks To Buy For 2019: Alpine Total Dynamic Dividend Fund(AOD)
- [By Logan Wallace]
Oppenheimer & Co. Inc. lifted its stake in shares of Alpine Total Dynamic Div (NYSE:AOD) by 14.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,451 shares of the investment management company’s stock after acquiring an additional 12,551 shares during the period. Oppenheimer & Co. Inc. owned 0.09% of Alpine Total Dynamic Div worth $906,000 as of its most recent SEC filing.
Top Biotech Stocks To Buy For 2019: Pound/Rand(PX)
- [By Shane Hupp]
TT International purchased a new stake in Praxair (NYSE:PX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,633 shares of the basic materials company’s stock, valued at approximately $9,615,000. Praxair makes up about 0.4% of TT International’s portfolio, making the stock its 26th biggest position.
- [By Shane Hupp]
Praxair (NYSE:PX) was downgraded by analysts at Zacks Investment Research from a buy rating to a hold rating. According to Zacks, “Praxair is expected to gain from strong backlog, new order wins and recovery in the energy and industrial end markets. Notably, Praxair’s pending merger with Linde has received conditional EU antitrust approval, antitrust clearance in China and India. Praxair and Linde also agreed to sell additional assets to a consortium of Messer Group GmbH and CVC Capital Partners in order to obtain the U.S. antitrust approval. The companies continue to work diligently to close the merger in second-half 2018. The stock has also outperformed its industry over the past year. However, its results will be hurt by weaker volumes and political uncertainties prevalent in Brazil and currency headwinds. Further, inflation and rising freight and logistics costs will hurt margins. Praxair’s stretched valuation is also a concern.”
- [By Shane Hupp]
PX (CURRENCY:PX) traded down 5.3% against the dollar during the 1-day period ending at 22:00 PM E.T. on June 11th. One PX coin can now be bought for approximately $0.0010 or 0.00000014 BTC on exchanges. Over the last seven days, PX has traded down 30.7% against the dollar. PX has a total market capitalization of $94,640.00 and approximately $2.00 worth of PX was traded on exchanges in the last 24 hours.
- [By Stephan Byrd]
Neuberger Berman Group LLC lowered its position in Praxair (NYSE:PX) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,173 shares of the basic materials company’s stock after selling 92,983 shares during the period. Neuberger Berman Group LLC’s holdings in Praxair were worth $35,712,000 as of its most recent SEC filing.
- [By Max Byerly]
Praxair, Inc. (NYSE:PX)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $169.00 and last traded at $168.83, with a volume of 72450 shares changing hands. The stock had previously closed at $160.73.
Top Biotech Stocks To Buy For 2019: LGI Homes, Inc.(LGIH)
- [By Joseph Griffin]
US Bancorp DE decreased its stake in LGI Homes Inc (NASDAQ:LGIH) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,665 shares of the financial services provider’s stock after selling 1,291 shares during the quarter. US Bancorp DE’s holdings in LGI Homes were worth $329,000 as of its most recent SEC filing.
- [By Tyler Crowe]
Three stocks on my watchlist that look incredibly cheap and will likely be high up on my next buy list are LGI Homes (NASDAQ:LGIH), U.S. Silica Holdings (NYSE:SLCA), and Transocean (NYSE:RIG). Here’s why they look compelling to me now and why Wall Street seems to be assigning them such modest valuations.
- [By Tyler Crowe, Rich Smith, and Daniel Miller]
So we asked three Motley Fool investors to highlight stocks they consider attractive stocks that might be a value investment today. Here’s why they picked General Motors (NYSE:GM), Loma Negra Compania Industrial Argentina (NYSE:LOMA), and LGI Homes (NASDAQ:LGIH).
- [By Logan Wallace]
ValuEngine downgraded shares of LGI Homes (NASDAQ:LGIH) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
LGIH has been the topic of a number of other reports. BidaskClub downgraded LGI Homes from a hold rating to a sell rating in a report on Wednesday, June 6th. JPMorgan Chase & Co. upgraded LGI Homes from a neutral rating to an overweight rating and cut their price target for the company from $69.00 to $58.50 in a report on Friday, September 21st. Zacks Investment Research upgraded LGI Homes from a sell rating to a hold rating in a report on Tuesday, July 24th. Finally, Wedbush set a $65.00 price target on LGI Homes and gave the company a neutral rating in a report on Friday, July 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $63.13.
- [By Ethan Ryder]
NVR (NYSE: NVR) and LGI Homes (NASDAQ:LGIH) are both construction companies, but which is the better investment? We will compare the two businesses based on the strength of their profitability, valuation, dividends, institutional ownership, earnings, risk and analyst recommendations.