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Do Hedge Funds and Insiders Love AECOM Technology Corp (ACM)?

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AECOM Technology Corp (NYSE:ACM) was in 17 hedge funds’ portfolio at the end of March. ACM shareholders have witnessed an increase in hedge fund interest lately. There were 12 hedge funds in our database with ACM holdings at the end of the previous quarter.

David Einhorn

In the eyes of most investors, hedge funds are viewed as slow, outdated financial vehicles of the past. While there are more than 8000 funds in operation today, we look at the bigwigs of this group, around 450 funds. It is widely believed that this group controls the lion’s share of the smart money’s total asset base, and by keeping an eye on their best investments, we have unsheathed a few investment strategies that have historically outpaced the broader indices. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per annum for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 23.3 percentage points in 8 months (explore the details and some picks here).

Just as integral, optimistic insider trading sentiment is a second way to parse down the financial markets. There are many incentives for an insider to cut shares of his or her company, but just one, very simple reason why they would initiate a purchase. Plenty of empirical studies have demonstrated the market-beating potential of this strategy if shareholders understand where to look (learn more here).

Consequently, let’s take a glance at the key action encompassing AECOM Technology Corp (NYSE:ACM).

What does the smart money think about AECOM Technology Corp (NYSE:ACM)?

Heading into Q2, a total of 17 of the hedge funds we track held long positions in this stock, a change of 42% from the first quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings significantly.

Of the funds we track, David Einhorn’s Greenlight Capital had the largest position in AECOM Technology Corp (NYSE:ACM), worth close to $38.5 million, comprising 0.6% of its total 13F portfolio. Coming in second is Cliff Asness of AQR Capital Management, with a $34 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other peers that hold long positions include Donald Chiboucis’s Columbus Circle Investors, John Overdeck and David Siegel’s Two Sigma Advisors and D. E. Shaw’s D E Shaw.

Consequently, some big names were breaking ground themselves. Columbus Circle Investors, managed by Donald Chiboucis, assembled the biggest position in AECOM Technology Corp (NYSE:ACM). Columbus Circle Investors had 26.8 million invested in the company at the end of the quarter. Curtis Macnguyen’s Ivory Capital (Investment Mgmt) also initiated a $5.5 million position during the quarter. The other funds with brand new ACM positions are Alexander Mitchell’s Scopus Asset Management, David Costen Haley’s HBK Investments, and Jeffrey Vinik’s Vinik Asset Management.

Insider trading activity in AECOM Technology Corp (NYSE:ACM)

Insider trading activity, especially when it’s bullish, is at its handiest when the company in focus has seen transactions within the past 180 days. Over the latest 180-day time frame, AECOM Technology Corp (NYSE:ACM) has seen zero unique insiders buying, and 11 insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to AECOM Technology Corp (NYSE:ACM). These stocks are Stantec Inc. (USA) (NYSE:STN), KBR, Inc. (NYSE:KBR), SAIC, Inc. (NYSE:SAI), The Shaw Group Inc. (NYSE:SHAW), and URS Corp (NYSE:URS). This group of stocks are in the technical services industry and their market caps are similar to ACM’s market cap.

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