Tag: Richard McGuire

Top Hedge Funds In Bid to Shape Up Sotheby’s Auction

Sotheby-hedge-fund

Global art auctioneer Sotheby’s BID +1.98% announced that its board of directors would review its capital allocation and financial policies, with results expected in early 2014.
The company hinted it may take actions that could mean bigger payouts to shareholders via share buybacks or dividends.

Richard Mick McGuire Marcato Capital Management
The announcement comes after activist hedge fund manager Richard McGuire’s Marcato Capital Management LLC boosted its stake in the company over the summer to 6.7%, according to an Aug. 29 filing, making it the second-largest shareholder in Sotheby’s.