Hedge Fund and Insider Trading News: David Einhorn, Mark Nordlicht, Marcato Capital, Lion Point Capital, Bridgewater Associates, Biogen Inc (BIIB), Unitedhealth Group Inc (UNH), and More

The Words ‘Carl Icahn’ And ‘Insider Trading’ Keep Popping Up Next To One Another (Deal Breaker)
Carl Icahn’s short-lived and possibly-nonexistent role as Lord High Commissioner for Shredding Regulations may not have worked out exactly as Elizabeth Warren & co. had hoped. Specifically, amidst all of the wall-building and child-caging and tax-cutting and court-packing, he just never could get POTUS to remember that the most important thing was doing something about those damned renewable fuel credits that were costing his CVR Energy oil refining business a fortune. But that doesn’t mean his occasional late-night phone calls with the president were a total waste of time.

Monday 5/6 Insider Buying Report: BIIB, UNH (Nasdaq.com)
At Biogen (BIIB), a filing with the SEC revealed that on Thursday, Director Alexander J. Denner purchased 118,342 shares of BIIB, at a cost of $229.94 each, for a total investment of $27.21M. Biogen is trading up about 0.2% on the day Monday. Before this latest buy, Denner made one other buy in the past twelve months, purchasing $20.57M shares at a cost of $327.59 a piece.

CFO Insider Trading Anomaly: April Results +4.53% (Seeking Alpha)
According to research, CFOs derive statistically and economically higher abnormal returns from their purchases of company shares than CEOs do. For April 27, CFO Insider purchases of 26 different stocks were reported with the SEC for average gains to the end of April of 4.53%. Four stocks were purchased by CFOs more than a month prior to the April reported date and account for average gains of +19.8%. Early test results of the CFO Insider Trading anomaly support the prior research that excess returns from insiders do occur and that CFOs represent the best returns among all insiders.

New Insider-Trading Norms See Cos Rush to Fortify Digital Compliance (TheHinduBusinessLine.com)
Now, the onus of compliance with norms rests mainly with board members: Experts. SEBI’s insider-trading norms have pushed up the requirement for maintenance of a digital data base for listed companies and there is a rush for compliance-related software in the market, experts told BusinessLine. The insider-trading norms which came into effect from April have forced companies to keep a digital record, which can be audited any time by the regulator, with regard to generation of unpublished price-sensitive information (UPSI). According to the new rules, any body found to be holding UPSI without purpose will be deemed to have indulged in insider-trading.

Unitedhealth Group Inc (UNH) CEO David S Wichmann Bought $4.6 million of Shares (GuruFocus)
CEO of Unitedhealth Group Inc (NYSE:UNH) David S Wichmann bought 20,000 shares of UNH on 05/03/2019 at an average price of $231.79 a share. The total cost of this purchase was $4.6 million. UnitedHealth Group Inc is a diversified health care company in the United States. It designs products, provides services and applies technologies that improve access to health and well-being services, and make health care more affordable. UnitedHealth Group Inc has a market cap of $220.87 billion; its shares were traded at around $231.95 with a P/E ratio of 18.02 and P/S ratio of 0.97. The dividend yield of UnitedHealth Group Inc stocks is 1.55%.