Based on information published by SIX (Swiss Exchange) it can be seen that Rainer-Marc Frey is turning cautious on gategroup (GATE) share outlook – or just wants to get out off this laggard. As I had seen in exchange data from Jan 20th, the stock gategroup had been active off-exchange, which can be a good indicator of insiders or very large shareholders moving stock. In this case Rainer-Marc Frey has used the spike in the share price to unload stock from the H21 Global Opportunities fund. The fund had bought the shares in 2011. Gategroup has massively underperformed the SPI index in the period from Summer 2011 to now (early 2014).