Is Potlatch Corporation (NASDAQ:PCH) a good investment?
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Equally as necessary, optimistic insider trading activity is a second way to look at the investments you’re interested in. Just as you’d expect, there are many reasons for an upper level exec to drop shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many academic studies have demonstrated the market-beating potential of this strategy if investors know what to do (learn more here).
Furthermore, it’s important to examine the recent info for Potlatch Corporation (NASDAQ:PCH).
Hedge fund activity in Potlatch Corporation (NASDAQ:PCH)
In preparation for the third quarter, a total of 17 of the hedge funds we track were long in this stock, a change of 113% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of notable hedge fund managers who were upping their stakes considerably.
Out of the hedge funds we follow, Jim Simons’s Renaissance Technologies had the biggest position in Potlatch Corporation (NASDAQ:PCH), worth close to $25.9 million, accounting for 0.1% of its total 13F portfolio. On Renaissance Technologies’s heels is Ken Fisher of Fisher Asset Management, with a $13 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Remaining hedge funds that are bullish include Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management and D. E. Shaw’s D E Shaw.
As aggregate interest spiked, particular hedge funds were breaking ground themselves. Renaissance Technologies, managed by Jim Simons, initiated the biggest position in Potlatch Corporation (NASDAQ:PCH). Renaissance Technologies had 25.9 million invested in the company at the end of the quarter. Ken Fisher’s Fisher Asset Management also made a $13 million investment in the stock during the quarter. The other funds with brand new PCH positions are Cliff Asness’s AQR Capital Management, Israel Englander’s Millennium Management, and D. E. Shaw’s D E Shaw.
Insider trading activity in Potlatch Corporation (NASDAQ:PCH)
Bullish insider trading is best served when the company in question has experienced transactions within the past half-year. Over the latest six-month time frame, Potlatch Corporation (NASDAQ:PCH) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also review the relationship between both of these indicators in other stocks similar to Potlatch Corporation (NASDAQ:PCH). These stocks are CubeSmart (NYSE:CUBE), DCT Industrial Trust Inc. (NYSE:DCT), Eastgroup Properties Inc (NYSE:EGP), Sovran Self Storage Inc (NYSE:SSS), and First Industrial Realty Trust, Inc. (NYSE:FR). This group of stocks are in the reit – industrial industry and their market caps are similar to PCH’s market cap.