IPC The Hospitalist Company Inc (NASDAQ:IPCM) was in 8 hedge funds’ portfolio at the end of the first quarter of 2013. IPCM investors should be aware of an increase in hedge fund interest lately. There were 7 hedge funds in our database with IPCM positions at the end of the previous quarter.
In today’s marketplace, there are many metrics market participants can use to monitor the equity markets. Two of the most useful are hedge fund and insider trading sentiment. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can beat the market by a superb amount (see just how much).
Just as important, optimistic insider trading activity is a second way to parse down the investments you’re interested in. There are a number of incentives for a corporate insider to cut shares of his or her company, but just one, very simple reason why they would initiate a purchase. Several academic studies have demonstrated the impressive potential of this method if “monkeys” know where to look (learn more here).
Consequently, let’s take a gander at the key action encompassing IPC The Hospitalist Company Inc (NASDAQ:IPCM).
How are hedge funds trading IPC The Hospitalist Company Inc (NASDAQ:IPCM)?
Heading into Q2, a total of 8 of the hedge funds we track were long in this stock, a change of 14% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were upping their holdings significantly.
According to our comprehensive database, Legg Mason Capital Management, managed by Bill Miller, holds the largest position in IPC The Hospitalist Company Inc (NASDAQ:IPCM). Legg Mason Capital Management has a $9 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is Manatuck Hill Partners, managed by Mark Broach, which held a $6.2 million position; 0.8% of its 13F portfolio is allocated to the stock. Remaining peers with similar optimism include Chuck Royce’s Royce & Associates, SAC Subsidiary’s CR Intrinsic Investors and Joel Greenblatt’s Gotham Asset Management.
With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Gotham Asset Management, managed by Joel Greenblatt, initiated the biggest position in IPC The Hospitalist Company Inc (NASDAQ:IPCM). Gotham Asset Management had 0.8 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also initiated a $0.4 million position during the quarter.
What have insiders been doing with IPC The Hospitalist Company Inc (NASDAQ:IPCM)?
Insider trading activity, especially when it’s bullish, is particularly usable when the primary stock in question has experienced transactions within the past six months. Over the latest 180-day time period, IPC The Hospitalist Company Inc (NASDAQ:IPCM) has seen zero unique insiders buying, and 5 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to IPC The Hospitalist Company Inc (NASDAQ:IPCM). These stocks are The Providence Service Corporation (NASDAQ:PRSC), U.S. Physical Therapy, Inc. (NYSE:USPH), Acadia Healthcare Company Inc (NASDAQ:ACHC), Healthways, Inc. (NASDAQ:HWAY), and Hanger Inc (NYSE:HGR). All of these stocks are in the specialized health services industry and their market caps are similar to IPCM’s market cap.