Accelrys, Inc. (ACCL): Are Hedge Funds Right About This Stock?

Accelrys, Inc. (NASDAQ:ACCL) was in 6 hedge funds’ portfolio at the end of December. ACCL investors should be aware of a decrease in hedge fund interest of late. There were 7 hedge funds in our database with ACCL positions at the end of the previous quarter.


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Just as beneficial, positive insider trading sentiment is another way to break down the stock market universe. As the old adage goes: there are a variety of reasons for a bullish insider to sell shares of his or her company, but only one, very obvious reason why they would buy. Several academic studies have demonstrated the market-beating potential of this strategy if you know where to look (learn more here).

With these “truths” under our belt, we’re going to take a look at the key action encompassing Accelrys, Inc. (NASDAQ:ACCL).

How have hedgies been trading Accelrys, Inc. (NASDAQ:ACCL)?

In preparation for this year, a total of 6 of the hedge funds we track held long positions in this stock, a change of -14% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their stakes substantially.

When looking at the hedgies we track, Renaissance Technologies, managed by Jim Simons, holds the biggest position in Accelrys, Inc. (NASDAQ:ACCL). Renaissance Technologies has a $9.8 million position in the stock, comprising less than 0.1%% of its 13F portfolio. The second largest stake is held by Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital, with a $0.8 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Remaining hedgies that are bullish include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.

Since Accelrys, Inc. (NASDAQ:ACCL) has witnessed falling interest from the smart money, it’s safe to say that there was a specific group of fund managers that slashed their positions entirely last quarter. Interestingly, D. E. Shaw’s D E Shaw sold off the biggest stake of all the hedgies we key on, comprising an estimated $0.1 million in stock.. J. Carlo Cannell’s fund, Cannell Capital, also dumped its stock, about $0.1 million worth. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest dropped by 1 funds last quarter.

What have insiders been doing with Accelrys, Inc. (NASDAQ:ACCL)?

Insider purchases made by high-level executives is best served when the company in focus has experienced transactions within the past six months. Over the latest 180-day time period, Accelrys, Inc. (NASDAQ:ACCL) has experienced zero unique insiders buying, and 5 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to Accelrys, Inc. (NASDAQ:ACCL). These stocks are E2open Inc (NASDAQ:EOPN), AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP), Proofpoint Inc (NASDAQ:PFPT), Bazaarvoice Inc (NASDAQ:BV), and SciQuest, Inc. (NASDAQ:SQI). All of these stocks are in the application software industry and their market caps match ACCL’s market cap.