Acorda Therapeutics Inc (ACOR) Continues To Fall From Favor With Top Investors

Since Acorda Therapeutics Inc (NASDAQ:ACOR) has witnessed declining sentiment from the smart money, we can see that there was a specific group of money managers that slashed their positions entirely by the end of the third quarter. At the top of the heap, Paul Marshall and Ian Wace’s Marshall Wace LLP dropped the largest stake of all the hedgies watched by Insider Monkey, totaling about $0.9 million in stock, and David Costen Haley’s HBK Investments was right behind this move, as the fund dropped about $0.7 million worth of shares. These transactions are interesting, as aggregate hedge fund interest was cut by 2 funds by the end of the third quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Acorda Therapeutics Inc (NASDAQ:ACOR) but similarly valued. We will take a look at Aerojet Rocketdyne Holdings Inc (NYSE:AJRD), Amerisafe, Inc. (NASDAQ:AMSF), American Equity Investment Life Holding (NYSE:AEL), and Alliance Resource Partners, L.P. (NASDAQ:ARLP). This group of stocks’ market values resemble ACOR’s market value.

As you can see these stocks had an average of 10.5 hedge funds with bullish positions and the average amount invested in these stocks was $108 million. That figure was $268 million in ACOR’s case. Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) is the most popular stock in this table. On the other hand Alliance Resource Partners, L.P. (NASDAQ:ARLP) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Acorda Therapeutics Inc (NASDAQ:ACOR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio, bearing in mind that several hedge funds have sold out of it recently.

Disclosure: None