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Hedge Fund and Insider Trading News: Elliott Management, Marcato Capital Management, CBRE Group Inc (CBG), AbbVie Inc (ABBV), Neogen Corporation (NEOG), and More

Elliott Buys Tiny Stake in Wipro in First India IT Firm Holding (Bloomberg)
Billionaire Paul Singer’s Elliott Management Corp. has bought a stake in Wipro Ltd., its first ever purchase of an Indian-based software outsourcer. The New York hedge fund acquired 1.855 million American depositary receipts, or about 0.04 percent of Wipro’s share capital, according to a filing with the U.S. Securities & Exchange Commission. Though tiny when compared with Elliott’s stake of more than 4 percent in rival Cognizant Technology Solutions Corp., which has the bulk of its operations in India, the holding in Wipro gives the fund another foothold in the nation’s $167-billion IT services industry at a time its main players are re-tooling to shore up margins amid tighter client budgets.

Shares of Ugg-maker Deckers Drop More Than 7% After Activist Fund Dumps Stake (CNBC)
Shares of Deckers Outdoor, the maker of Ugg boots, dropped more than 7 percent on Monday after Marcato Capital Management exited their stake in the company. Marcato held an 8.5 percent stake in Deckers Outdoor as of Jan. 19, according to a 13D filing. The activist fund’s exit comes after its board nominees were not elected in December so it appears to be moving on and that is not making some shareholders happy. The stock was up more than 21 percent prior to Monday’s drop and hit a 52-week high last week.

Insider Trading Eyeglasses

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Polar Capital’s Gavin Rochussen Gets More Bullish on Chip Giants Advanced Micro Devices, Inc. (AMD) and Micron Technology, Inc. (MU) (SmarterAnalyst.com)
Gavin Rochussen is a strategic leader who knows how to make the tough cuts. After all, under Rochussen’s guiding hand, special asset management group Polar Capital cut four funds that were underclassing the market. All the same, the hedge fund firm pulled out a good fourth quarter complete with solid net inflows- and by January, Polar was managing £11.7 billion. This marks £2.4 billion more from the end of March this time last year. For a firm that prioritizes diversifying fund strategies to client segments and client geography, how does Polar bet on chip giants Advanced Micro Devices, Inc. (NASDAQ:AMD) and Micron Technology, Inc. (NASDAQ:MU)?

Apple And 4 Other Stocks That Fit Buffett’s Investing Style (Forbes)
The much-anticipated release of Warren Buffett‘s annual letter to Berkshire Hathaway (BRK.A) shareholders at the end of February ignited the internet with a flurry of market and investment commentary. Some focused on the Berkshire’s hefty cash balances against the dearth of acquisition opportunities, while others expanded on the famous ten-year, million-dollar bet Buffett waged—and won—that the S&P 500 would outperform a bundle of hedge funds (selected by investor Ted Seides).

Insider Selling: CBRE Group Inc (NYSE:CBG) Insider Sells 5,000,000 Shares of Stock (Baseballnewssource.com)
CBRE Group Inc (NYSE:CBG) insider Brandon Boze sold 5,000,000 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $45.78, for a total transaction of $228,900,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Insider Selling: Neogen Co. (NASDAQ:NEOG) Insider Sells 25,334 Shares of Stock (RegistrarJournal.com)
Neogen Co. (NASDAQ:NEOG) insider James L. Herbert sold 25,334 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $59.32, for a total transaction of $1,502,812.88. Following the sale, the insider now directly owns 1,157,591 shares in the company, valued at approximately $68,668,298.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

AbbVie Inc (NYSE:ABBV) CFO William J. Chase Sells 70,928 Shares of Stock (Baseballnewssource.com)
AbbVie Inc (NYSE:ABBV) CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $117.18, for a total value of $8,311,343.04. Following the sale, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Insider Buying: SCYNEXIS Inc (SCYX) Insider Purchases 14,790 Shares of Stock (LedgerGazette.com)
SCYNEXIS Inc (NASDAQ:SCYX) insider Gonzalez David Angulo bought 14,790 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average price of $1.69 per share, with a total value of $24,995.10. Following the transaction, the insider now directly owns 88,790 shares in the company, valued at $150,055.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Insider Selling: Yelp Inc (YELP) CEO Sells 13,000 Shares of Stock (EquitiesFocus.com)
Yelp Inc (NYSE:YELP) CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $41.84, for a total transaction of $543,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Insider Buying: ConvergeOne Holdings, Inc. (CVON) Director Buys 125,000 Shares of Stock (TheLincolnianOnline.com)
ConvergeOne Holdings, Inc. (NASDAQ:CVON) Director Richard Katzman purchased 125,000 shares of ConvergeOne stock in a transaction on Thursday, February 22nd. The stock was bought at an average price of $8.00 per share, for a total transaction of $1,000,000.00. The purchase was disclosed in a document filed with the SEC.