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Hedge Funds Aren’t Crazy About Pacific Continental Corporation (PCBK) Anymore

Is Pacific Continental Corporation (NASDAQ:PCBK) a healthy stock for your portfolio? Hedge funds are becoming less confident. The number of bullish hedge fund bets stayed the same which is a slightly negative development in our experience

According to most shareholders, hedge funds are assumed to be unimportant, outdated financial vehicles of the past. While there are greater than 8000 funds trading today, we hone in on the upper echelon of this group, close to 450 funds. Most estimates calculate that this group has its hands on most of all hedge funds’ total capital, and by paying attention to their best investments, we have brought to light a few investment strategies that have historically outstripped the market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points a year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 23.3 percentage points in 8 months (explore the details and some picks here).

Chuck RoyceJust as important, bullish insider trading sentiment is another way to break down the investments you’re interested in. As the old adage goes: there are a number of incentives for a bullish insider to downsize shares of his or her company, but only one, very simple reason why they would initiate a purchase. Plenty of academic studies have demonstrated the impressive potential of this strategy if investors understand what to do (learn more here).

Now, let’s take a look at the key action surrounding Pacific Continental Corporation (NASDAQ:PCBK).

How have hedgies been trading Pacific Continental Corporation (NASDAQ:PCBK)?

Heading into Q2, a total of 7 of the hedge funds we track were bullish in this stock, a change of 0% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their stakes significantly.

Of the funds we track, Chuck Royce’s Royce & Associates had the most valuable position in Pacific Continental Corporation (NASDAQ:PCBK), worth close to $6 million, accounting for less than 0.1%% of its total 13F portfolio. The second largest stake is held by Basswood Capital, managed by Matthew Lindenbaum, which held a $2.1 million position; 0.2% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Neil Chriss’s Hutchin Hill Capital, Jim Simons’s Renaissance Technologies and Israel Englander’s Millennium Management.

Since Pacific Continental Corporation (NASDAQ:PCBK) has experienced a declination in interest from hedge fund managers, we can see that there is a sect of money managers that decided to sell off their positions entirely heading into Q2. Intriguingly, Eric D. Hovde’s Hovde Capital cut the biggest stake of the “upper crust” of funds we key on, worth about $0.4 million in stock. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

How have insiders been trading Pacific Continental Corporation (NASDAQ:PCBK)?

Insider purchases made by high-level executives is most useful when the company in question has experienced transactions within the past 180 days. Over the latest 180-day time period, Pacific Continental Corporation (NASDAQ:PCBK) has seen 5 unique insiders buying, and zero insider sales (see the details of insider trades here).

With the returns exhibited by our time-tested strategies, everyday investors must always watch hedge fund and insider trading sentiment, and Pacific Continental Corporation (NASDAQ:PCBK) is no exception.

Click here to learn why you should track hedge funds

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