Reknown hedge fund Renaissance Technolgoies, which pioneered the use of advanced mathematics to advance quatitative investing, has acquired 6.9%, or 896,700 shares, of stock in Deckers Outdoor Corp.
Regarded as among the most successful hedge funds, Renaissance manages approximately $30 billion in investments. The company is headed by James H. Simons, former chairman of the Mathematics Department at the State University of New York at Stony Brook. Earlier in his career he was a cryptanalyst at the Institute of Defense Analyses in Princeton, and taught mathematics at the Massachusetts Institute of Technology and Harvard University.
Shares of Deckers stock were trading up nearly $5, or just over 4%, in the $120 a share range by midafternoon. Decker's owns the Ugg, Simple and Teva brands.
