In the smart money’s world, David Nierenberg’s Nierenberg Investment Management reported a sale of number of shares of Asset Acceptance Capital Corp. (NASDAQ:AACC) in a 13D filing with the Securities and Exchange Commission. In total, the position in Asset Acceptance Capital Corp. (NASDAQ:AACC) is now worth near $28.4 million, a decrease of 14.6%.
In layman’s terms, it’s very crucial for average investors to pay attention to David Nierenberg’s latest move out of Asset Acceptance Capital Corp. (NASDAQ:AACC). At large, 13Ds indicate the intentions of activist fund managers. These members of the “investing elite” are the proverbial celebrities in the financial world, and seek to impose their will to an already standing business.
Despite the fact that most shareholders keep a close eye on a multitude of investing metrics, there’s one that is often overlooked: aggregate hedge fund sentiment.
Our research has demonstrated that mimickers who follow specific hedge fund activity can outperform the general indices by an average of 18 percentage points per year (see the details here).
Focusing in on Asset Acceptance Capital Corp. (NASDAQ:AACC), our records indicate that three other hedge funds were invested in company at the end of last quarter. In particular, Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s Grt Capital Partners having 40,722 shares, Israel Englander’s Millennium Management with 11,035 shares, and Jim Simons’ Renaissance Technologies with 26,000 shares held shares of Asset Acceptance Capital Corp. (NASDAQ:AACC), which is some of the best company a money manager can maintain.
As follows they include Move Inc. (NASDAQ:MOVE), Electro Scientific Industries, Inc. (NASDAQ:ESIO), and RadiSys Corporation (NASDAQ:RSYS), and are listed on the following page:
David Nierenberg’s fund holds 3,429,191 shares in Move Inc. (NASDAQ:MOVE), the value of the stake being almost $26 million. Also, Nierenberg Investment Management owned 3,169,920 shares in Electro Scientific Industries, Inc. (NASDAQ:ESIO) and 4,531,296 shares in RadiSys Corporation (NASDAQ:RSYS). The value of the stakes in the last two companies were $31.5 million and $13.5 million as of the fund’s latest 13F filing, respectively.
With that being said, Insider Monley will keep you updated about the smart money’s sentiment around Asset Acceptance Capital Corp. (NASDAQ:AACC).