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Hedge Fund and Insider Trading News: Elliott Management, Alden Global Capital, Warren Buffett, Legacy Reserves LP (LGCY), Barnes & Noble Education Inc (BNED), Endurance International Group (EIGI), and More

Athenahealth Surges After Elliott Seeks $6.46 Billion Takeover (Bloomberg)
Athenahealth Inc. shares surged after Elliott Management Corp. bid to acquire the medical company for $160 a share, saying executives had “failed to correct a host of operational issues.” The New York hedge fund led by billionaire Paul Singer said Monday that it made an all-cash takeover offer, which would value Athenahealth at $6.46 billion. CNBC reported the bid earlier, saying Elliott is working with partners on the acquisition. Shares of Athenahealth, which makes an online platform doctors use to manage their practices, rose as much 26 percent to $158.24 in New York, the biggest intraday gain since December 2016.

Journalists to Rally at ‘Vulture’ Fund’s NYC Headquarters to Protest News Chain Gutting (PRNewswire.com)
NEW YORK, May 7, 2018 /PRNewswire/ — Journalists and their supporters will rally outside the New York City headquarters of Alden Global Capital at noon on Tuesday, May 8, in front of the Lipstick Building, 885 Third Ave., to protest the hedge fund’s censorship and pillaging of hundreds of millions of dollars from Digital First Media newspapers, The NewsGuild-CWA announced. WHAT: Rally outside Alden Global Capital headquarters. WHEN: Noon, Tuesday, May 8. WHERE: The Lipstick Building, 885 Third Ave., New York, N.Y. Two years ago, the Guild launched a historic campaign to fight back against draconian cuts by Alden, the hedge fund that owns Digital First Media, the second-largest newspaper chain in the country.

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Warren Buffett Said 4 Executives Are Running the Show at Berkshire Hathaway. Here’s Who They Are (Fortune.com)
Nothing can last forever, including Warren Buffett’s reign as the king of investing. At the Berkshire Hathaway annual meeting this past weekend, Buffett said four executives had increasingly taken over the day-to-day running of the company, setting each of them up to succeed Buffett when the time comes. Here’s who they are. Greg Abel: Abel is chairman and CEO of Berkshire Hathaway Energy and vice chairman of non-insurance operations, having been promoted in January alongside Ajit Jain. He grew up in Edmonton, Alberta before moving to the U.S. after college.

Ex-Everest Hedge Fund Managers Turn Activists on Japan Stock (Bloomberg)
Volta Global, the family office run by former managers of hedge fund firm Everest Capital, has turned to activism in Japan. Miami-based Volta’s first target is a small construction company: it’s asking Asanuma Corp. to spend 10 billion yen ($92 million) on a special dividend or share buyback, and to hand over all its profit for the current financial year to shareholders, according to a March 19 letter to the Japanese company that Volta provided to Bloomberg.

Insider Buying: Legacy Reserves LP (NASDAQ:LGCY) Major Shareholder Buys 54,717 Shares of Stock (LedgerGazette.com)
Legacy Reserves LP (NASDAQ:LGCY) major shareholder Baines Creek Capital, Llc acquired 54,717 shares of the business’s stock in a transaction dated Friday, April 27th. The stock was acquired at an average cost of $5.33 per share, for a total transaction of $291,641.61. The purchase was disclosed in a filing with the SEC.

Insider Selling: Barnes & Noble Education (NYSE:BNED) Major Shareholder Sells 47,387 Shares of Stock (WeekHerald.com)
Barnes & Noble Education Inc (NYSE:BNED) major shareholder Abrams Capital Management, L.P sold 47,387 shares of Barnes & Noble Education stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $7.44, for a total value of $352,559.28. The sale was disclosed in a document filed with the Securities & Exchange Commission.

Insider Buying: RAIT Financial Trust (RAS) Major Shareholder Purchases 10,600 Shares of Stock (MaconDaily.com)
RAIT Financial Trust (NYSE:RAS) major shareholder Charles L. Frischer acquired 10,600 shares of the business’s stock in a transaction that occurred on Wednesday, April 25th. The shares were bought at an average price of $10.85 per share, for a total transaction of $115,010.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Insider Selling: Endurance International Group (EIGI) Insider Sells $625,763.94 in Stock (WeekHerald.com)
Endurance International Group (NASDAQ:EIGI) insider John Orlando sold 73,706 shares of the firm’s stock in a transaction that occurred on Thursday, May 3rd. The stock was sold at an average price of $8.49, for a total transaction of $625,763.94. The sale was disclosed in a document filed with the SEC.

Insider Buying: DDR Corp. (DDR) Director Buys $4,801,972.25 in Stock (LedgerGazette.com)
DDR Corp. (NYSE:DDR) Director Alexander Otto purchased 662,341 shares of DDR stock in a transaction that occurred on Wednesday, May 2nd. The stock was acquired at an average price of $7.25 per share, for a total transaction of $4,801,972.25. Following the transaction, the director now directly owns 55,277,640 shares of the company’s stock, valued at approximately $400,762,890. The acquisition was disclosed in a document filed with the SEC.