News & Events

Michael Legg joins The Benchmark Company

Michael Legg joined The Benchmark Company in 2019 to cover the Cannabis sector and special situations.  

Mr. Legg has more than 30 years of sell-side, buy-side and private equity experience with a particular focus on emerging small-cap growth companies across a variety of sectors.  Mr. Legg started his sell-side equity research career at Alex Brown, and he was an analyst for Prudential and Jefferies among others, covering the consumer, emerging growth, internet, outsourcing, industrial, metals & mining, cleantech and IT services industries.  On the buy-side, he worked at MFS and served as a partner at a small-cap hedge fund that managed a concentrated portfolio of micro-cap companies.  His private equity experience spans investing in lower middle market companies at a midsized fund and large enterprises at a multi-billion dollar infrastructure fund.  He has contributed to various financial publications such as the Wall Street Journal and the New York Times, and he has appeared on broadcasts for CNBC, CNN and FOX.

Mr. Legg has an MBA in Finance from the Babson Graduate School of Business and a BA from Northeastern University in Management.


Robert Wasserman joins Benchmarks Healthcare Research Team

Robert Wasserman joined Benchmark in 2019 as a senior research analyst covering the healthcare and biotechnology sectors.  Prior to Benchmark, Mr. Wasserman’s 25-plus years of investment experience includes previous equity research positions at Craig-Hallum, Dawson James, Southeast Research Partners, and Jesup & Lamont.  He was named an All-Star Analyst in Healthcare by the Wall Street Journal and has been quoted and appeared in several financial print and media outlets.  Mr. Wasserman holds BS degrees in engineering and management from MIT and an MBA from the University of Chicago.


Mr. Matthew Harrigan joins the Benchmark Company's TMT Research Team

Matthew Harrigan joined Benchmark as a equity research analyst in June 2019 where he focuses on the Telecom and Entertainment sectors across a broad range of market caps.   His research emphasizes fair TMT stock valuation(s) relative to broader market equity indices and digital trends affecting media companies.  Matt is a 25 year Wall Street veteran, formerly working at the Buckingham Research Group, Janco Partners, JP Morgan and Bear Stearns.   He has been Institutional Investor ranked for both Boutique Media and Latin American Media and has been recognized on the Wall Street Journal’s ‘Best on the Street’ for stock selection.  Matthew graduated with distinction from the Wharton School and magna cum laude from Brown University, where he was a Rhodes Scholarship candidate.   


Mr. Ruben Roy joins The Benchmark Company as Senior Research Analyst

Ruben Roy joined Benchmark as an equity research analyst in early 2019 covering the semiconductor industry and related technologies. Ruben brings more than 15 years of sell-side experience to the firm, previously serving as a Senior Research Analyst at Piper Jaffray, Mizuho Securities and Pacific Crest Securities. Ruben earned a ‘Best on the Street’ award from the Wall Street Journal in the semiconductor category in 2011 and is a frequent contributor to leading financial media platforms. Prior to Wall Street, Ruben began his career in the semiconductor industry as a design engineer and later as a sales engineer. Ruben holds Bachelor’s and Master’s Degrees in Electrical Engineering from Fairleigh Dickinson University and Manhattan College, respectively, and received his M.B.A from New York University’s Stern School of Business. 


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Confirmed Companies Overview

  • Activision Blizzard, Inc. (ATVI) – publishes, develops, and distributes interactive entertainment software and peripheral products.

  • AMC Entertainment Holdings, Inc. (AMC) – provides, through its subsidiaries, theatrical exhibition, movie screening, food distribution, online ticket booking, and other related services.

  • CarGurus, Inc. (CARG) – retails automobiles and accessories in the United States.

  • Central European Media Ent-A (CETV) - media and entertainment company operating leading businesses in five Central and Eastern European markets.

  • DeNA Company Ltd. (2432-TO) – provider of mobile portal and e-commerce websites based in Japan.

  • E.W. Scripps (SSP) – serves audiences and businesses through a growing portfolio of local and national media brands.

  • Glu Mobile Inc. (GLUU) – develops and publishes mobile games on a global basis.

  • Gray Television, Inc. (GTN) – operates television stations and digital assets in various markets across the United States

  • IAC/InterActiveCorp (IAC) – media and internet company that report revenues in search and applications, the match group, media, and eCommerce.

  • IMAX Corporation (IMAX) – offers end-to-end cinematic solution combining proprietary software, theater architecture, and equipment.

  • Momo, Inc (MOMO) - mobile based social networking platform that enables users to establish and expand social relationships based on location and interests.

  • National CineMedia, Inc. (NCMI) – provides advertising, meeting, and digital programming events through its network of theaters.

  • Nexstar Media Group, Inc. (NXST) – television broadcasting company that focuses on the acquisition, development, and operation of television stations in medium using traditional media, e-media digital, and mobile media platforms.

  • Sinclair Broadcast Group, Inc. (SBGI) – television broadcasting company that offers news operations, sports network, local advertising, and sales services on television stations.

  • SuperData Research (Private) – provides market intelligence on digital games and interactive media.

  • Take-Two Interactive Software, Inc. (TTWO) – develops, markets, distributes, and publishes interactive entertainment software games and accessories.

  • Tegna, Inc. (TGNA) - operates one of the largest portfolio of television stations across the US, including affiliates of the four major broadcast networks in the top 25 markets.

  • Waitr Holdings, Inc. (WTRH) – operates as a restaurant and delivers food on customer location in the United States.

  • World Wrestling Entertainment, Inc. (WWE) – media and entertainment company offering live wrestling events, television programming, music publishing, advertising, licensing, and home video streaming services.


Benchmark Initiates in Cannabis Space

We are initiating coverage of Canopy Growth Corporation (TSX WEED; NYSE CGC) with a Buy rating and C$100 price target. Our positive view is based on Canopy's exposure to meaningful demand drivers that include 1) Canopy's early leadership in the medical cannabis market in Canada, 2), upcoming legalization of recreational cannabis in Canada, 3) international growth from countries that have legalized cannabis and likely future legalization of cannabis for medical and recreational use in the US and overseas, and 4) meaningful investment from Constellation Brands, which accelerates the ongoing build-out of its international production and distribution operations and domestic retail infrastructure to meet rapidly growing global demand, and which enables M&A opportunities and internal development of new brands and products that use cannabis as an active ingredient.

Bruce Jackson Joins Benchmark

We are pleased to announce the hiring of Bruce Jackson as a Senior Analyst, covering the Healthcare - Medical Technology sector.  Bruce is a seasoned and well-respected professional who joins us from Lake Street Capital Markets, where he was a VP – Sr. Equity Research Analyst for the last 5 years.  Prior to Lake Street, Bruce had professional stops at Northland Securities, Morgan Joseph, RBC Capital Markets, and Wachovia Securities dating back to 2002.


Bruce is a graduate of the University of Wisconsin, where he earned a Bachelor of Arts degree, and then continued his education at Cornell University earning his Master’s in Business Administration.  Bruce will be working out of Minneapolis and can be reached at (651) 315-2260 and

Adam Tracy Joins Benchmark in San Francisco

We are pleased to announce the addition of Adam Tracy to our San Francisco office in Sales Trading.  Adam has significant experience, starting  his career at Montgomery Securities, where he worked for twelve years.  He moved on to Thomas Weisel as a Partner, and then continued on at  Stifel Financial as a Managing Director, following its acquisition of Weisel.  He is a graduate of Stanford University.



Benchmark Acts as Lead Managing Underwriter for Biofrontaera AG

The Benchmark Company, in conjunction with Biofrontera AG (BFRA) (Frankfurt Stock Exchange:B8F) (“Biofrontera” or the “Company”), an international biopharmaceutical company, today announced the closing of a U.S. firm commitment underwritten public offering of American Depositary Shares ("ADSs"), at an offering price of $9.88 per ADS. Each ADS represents two of Biofrontera’s ordinary shares, nominal value €1.00 per share. The Company sold a total of 1,300,483 ADSs, including a full exercise by the underwriters of the over-allotment option to purchase 85,483 ADSs, which option exercise also closed today. The ADSs began trading on The NASDAQ Capital Market under the symbol “BFRA” on February 14, 2018. The Company received gross proceeds of approximately $12.9 million from the ADSs sold in this offering, before deducting underwriting discounts and commissions of approximately $1.0 million and other related expenses.

The Benchmark Company, LLC acted as Lead Managing Underwriter with Dawson James Securities, Inc. and Lake Street Capital Markets acted as co-managers. Dawson James Securities, Inc. acted as the “qualified independent underwriter” as in connection with this offering.

Michael Jacobs Joins Benchmark As Head Of Equity Capital Markets

We are pleased to announce that Michael Jacobs has joined Benchmark as Head of Equity Capital Markets in our New York office.  Prior to joining Benchmark, Michael was most recently at Axiom Capital.  Michael has over 30 years’ experience as an investment banker and was the founder of Capital Growth Financial.  He holds an MBA from the Stern School of Business  and a BBA from Emory University.

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Former Brean team joins Benchmark

Fawne Jiang  joins Benchmark as a Senior Equity Analyst covering Chinese Internet & Media stocks.  She is well respected as an Asian Internet analyst where she focuses on local coverage and data points, which is highly valued by our clients.  Fawne is accompanied by her associate Long Lin. Fawne and her team greatly expand Benchmark’s strengths in technology and media into a dynamic new area...

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