Penn Virginia Corporation (PVA): Are Hedge Funds Right About This Stock?

Penn Virginia Corporation (NYSE:PVA) investors should pay attention to a decrease in activity from the world’s largest hedge funds in recent months.

Penn Virginia Corporation (NYSE:PVA)In the eyes of most investors, hedge funds are seen as unimportant, old financial vehicles of yesteryear. While there are over 8000 funds with their doors open at the moment, we at Insider Monkey hone in on the moguls of this group, around 450 funds. Most estimates calculate that this group oversees most of all hedge funds’ total asset base, and by keeping an eye on their highest performing stock picks, we have found a number of investment strategies that have historically outstripped the broader indices. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per annum 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 (check out a sample of our picks).

Just as key, optimistic insider trading activity is a second way to parse down the world of equities. Obviously, there are lots of stimuli for a bullish insider to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Many academic studies have demonstrated the impressive potential of this method if investors understand where to look (learn more here).

With these “truths” under our belt, let’s take a look at the latest action surrounding Penn Virginia Corporation (NYSE:PVA).

How are hedge funds trading Penn Virginia Corporation (NYSE:PVA)?

In preparation for this quarter, a total of 12 of the hedge funds we track were long in this stock, a change of -14% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings significantly.

According to our comprehensive database, Ken Griffin’s Citadel Investment Group had the biggest position in Penn Virginia Corporation (NYSE:PVA), worth close to $13.7 million, accounting for less than 0.1%% of its total 13F portfolio. Sitting at the No. 2 spot is Cliff Asness of AQR Capital Management, with a $10.8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedge funds that are bullish include Chuck Royce’s Royce & Associates, Robert B. Gillam’s McKinley Capital Management and Israel Englander’s Millennium Management.

Due to the fact that Penn Virginia Corporation (NYSE:PVA) has experienced falling interest from the smart money, we can see that there is a sect of fund managers that decided to sell off their entire stakes heading into Q2. Intriguingly, Thomas E. Claugus’s GMT Capital sold off the biggest investment of the 450+ funds we watch, totaling about $2.6 million in stock., and Mike Vranos of Ellington was right behind this move, as the fund cut about $0.3 million worth. These bearish behaviors are important to note, as total hedge fund interest fell by 2 funds heading into Q2.

Insider trading activity in Penn Virginia Corporation (NYSE:PVA)

Bullish insider trading is best served when the company in focus has experienced transactions within the past six months. Over the latest 180-day time period, Penn Virginia Corporation (NYSE:PVA) has seen 1 unique insiders buying, and zero insider sales (see the details of insider trades here).

With the returns exhibited by the aforementioned studies, everyday investors must always monitor hedge fund and insider trading activity, and Penn Virginia Corporation (NYSE:PVA) shareholders fit into this picture quite nicely.

Click here to learn why you should track hedge funds

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

The 20 Biggest Contracts in MLB History

The 7 Worst Blown Calls in Sports History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!