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Hedge Funds Are Buying Carolina Bank Holding Inc. (NC) (CLBH)

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As we already know from media reports and hedge fund investor letters, many hedge funds lost money in the third quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with healthcare among them. Nevertheless, most investors decided to stick to their bullish theses and their long-term focus allows us to profit from the recent declines. In particular, let’s take a look at what hedge funds think about Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) in this article.

Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) investors should pay attention to an increase in support from the world’s most elite money managers lately. A similar sentiment was echoed in the stock market, with the shares of Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) improving 7.22% throughout the quarter. In order to understand more about the hedge fund behavior, we will discuss hedge funds that held Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH) in their portfolio, at the end of the last quarter.

The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article, we will examine companies such as Vericel Corp (NASDAQ:VCEL), Town Sports International Holdings, Inc. (NASDAQ:CLUB), and Ion Geophysical Corp (NYSE:IO) to gather more data points.

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According to most investors, hedge funds are perceived as unimportant, old investment tools of yesteryear. While there are greater than 8000 funds in operation at the moment, our experts choose to focus on the top tier of this group, approximately 700 funds. It is estimated that this group of investors manages the majority of the hedge fund industry’s total asset base, and by following their finest investments, Insider Monkey has come up with a few investment strategies that have historically outperformed the S&P 500 index. Insider Monkey’s small-cap hedge fund strategy exceeded the S&P 500 index by 12 percentage points annually for a decade in their back tests.

With all of this in mind, let’s go over the recent action regarding Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH).

How are hedge funds trading Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH)?

At the end of Q3, a total of 4 of the hedge funds tracked by Insider Monkey were long this stock, an increase of 33% from the previous quarter. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Matthew Lindenbaum’s Basswood Capital has the number one position in Carolina Bank Holding Inc. (NC) (NASDAQ:CLBH), worth close to $5.5 million, comprising 0.3% of its total 13F portfolio. The second most bullish fund manager is Endicott Management, managed by Robert I. Usdan and Wayne K. Goldstein, which holds a $3.3 million position; the fund has 1.2% of its 13F portfolio invested in the stock. Other peers with similar optimism consist of Emanuel J. Friedman’s EJF Capital, and Fred Cummings’s Elizabeth Park Capital Management.

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