【centro de rehabilitación de drogas gratis en new york】Where Do Hedge Funds Stand On Pacific Mercantile Bancorp (PMBC)?
Thecentro de rehabilitación de drogas gratis en new york latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 817 world-class investment firms that we track and now have access to the collective wisdom contained in these filings, which are based on their September 30 holdings, data that is available nowhere else. Should you consider Pacific Mercantile Bancorp (NASDAQ:
PMBC
) for your portfolio? We'll look to this invaluable collective wisdom for the answer.
Is
Pacific Mercantile Bancorp (NASDAQ:
PMBC
)
a superb investment right now? The smart money was in a bearish mood. The number of long hedge fund positions fell by 2 in recent months. Pacific Mercantile Bancorp (NASDAQ:
PMBC
) was in 6 hedge funds' portfolios at the end of September. The all time high for this statistics is 8. Our calculations also showed that PMBC isn't among the
30 most popular stocks among hedge funds
(click for Q3 rankings and see the video for a quick look at the top 5 stocks). There were 8 hedge funds in our database with PMBC holdings at the end of June.
Video: Watch our video about the top 5 most popular hedge fund stocks.
In the 21st century investor’s toolkit there are plenty of formulas shareholders employ to size up stocks. Some of the most useful formulas are hedge fund and insider trading sentiment. Our experts have shown that, historically, those who follow the top picks of the top money managers can outperform the S&P 500 by a superb amount (
see the details here
).
Emanuel J. Friedman
Emanuel Friedman of EJF Capital
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this
real estate stock
to our monthly premium newsletter subscribers. We go through lists like the
15 best blue chip stocks
to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on
our website
. Keeping this in mind let's view the new hedge fund action regarding Pacific Mercantile Bancorp (NASDAQ:
PMBC
).
What have hedge funds been doing with Pacific Mercantile Bancorp (NASDAQ:PMBC)?
At the end of the third quarter, a total of 6 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -25% from the previous quarter. The graph below displays the number of hedge funds with bullish position in PMBC over the last 21 quarters. With hedge funds' positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were adding to their holdings meaningfully (or already accumulated large positions).
Story continues
Is PMBC A Good Stock To Buy?
The largest stake in Pacific Mercantile Bancorp (NASDAQ:PMBC) was held by
Fourthstone LLC
, which reported holding $7.6 million worth of stock at the end of September. It was followed by EJF Capital with a $6 million position. Other investors bullish on the company included Renaissance Technologies, Millennium Management, and Paloma Partners. In terms of the portfolio weights assigned to each position Fourthstone LLC allocated the biggest weight to Pacific Mercantile Bancorp (NASDAQ:PMBC), around 6.38% of its 13F portfolio.
EJF Capital
is also relatively very bullish on the stock, setting aside 0.5 percent of its 13F equity portfolio to PMBC.
Judging by the fact that Pacific Mercantile Bancorp (NASDAQ:PMBC) has experienced declining sentiment from the aggregate hedge fund industry, it's safe to say that there were a few hedgies that slashed their full holdings last quarter. Interestingly, Fred Cummings's
Elizabeth Park Capital Management
cut the largest position of all the hedgies monitored by Insider Monkey, totaling close to $1.1 million in stock, and Gavin Saitowitz and Cisco J. del Valle's Springbok Capital was right behind this move, as the fund said goodbye to about $0 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 2 funds last quarter.
Let's now review hedge fund activity in other stocks similar to Pacific Mercantile Bancorp (NASDAQ:PMBC). We will take a look at Sachem Capital Corp. (NYSE:
SACH
), BG Staffing Inc (NYSE:
BGSF
), Immutep Limited (NASDAQ:
IMMP
), Borr Drilling Limited (NYSE:
BORR
), OP Bancorp (NASDAQ:
OPBK
), Bank7 Corp. (NASDAQ:
BSVN
), and Avino Silver & Gold Mines Ltd. (NYSE:
ASM
). This group of stocks' market valuations are similar to PMBC's market valuation.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position SACH,1,153,-1 BGSF,8,3378,3 IMMP,1,66,0 BORR,6,1637,1 OPBK,4,5883,0 BSVN,2,474,0 ASM,3,342,0 Average,3.6,1705,0.4 [/table]
View table here
if you experience formatting issues.
As you can see these stocks had an average of 3.6 hedge funds with bullish positions and the average amount invested in these stocks was $2 million. That figure was $17 million in PMBC's case. BG Staffing Inc (NYSE:
BGSF
) is the most popular stock in this table. On the other hand Sachem Capital Corp. (NYSE:
SACH
) is the least popular one with only 1 bullish hedge fund positions. Pacific Mercantile Bancorp (NASDAQ:PMBC) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for PMBC is 61.2. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our calculations showed that
top 20 most popular stocks
among hedge funds returned 41.3% in 2019 and outperformed the S&P 500 ETF (SPY) by 10 percentage points. These stocks gained 30.7% in 2020 through November 27th and still beat the market by 16.1 percentage points. Hedge funds were also right about betting on PMBC as the stock returned 34.4% since the end of Q3 (through 11/27) and outperformed the market. Hedge funds were rewarded for their relative bullishness.
Get real-time email alerts: Follow Pacific Mercantile Bancorp (NASDAQ:PMBC)
Disclosure: None. This article was originally published at
Insider Monkey
.
Related Content
How to Best Use Insider Monkey To Increase Your Returns
10 Best Growth Stocks To Buy Now
25 Best Caribbean Islands To Visit
View comments
-
Memgen Announces Addition to Board of DirectorsApollo Endosurgery, Inc. Reports First Quarter 2020 ResultsUnderstated Factors To Consider Before Investing In Esquire Financial Holdings, Inc. (NASDAQ:ESQ)The Gross Law Firm Announces Class Actions on Behalf of Shareholders of QD, LK and ALGNAUD/USD Weekly Price Forecast – Australian Dollar Rallies Significantly For The WeekFIRST FIRM TO INVESTIGATE NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Carnival Corporation & Plc and Encourages Investors with Losses of $100,000 to Contact the FirmTristan Thompson Reveals The Importance Of Patience In Today's WorldIs AquaBounty Technologies (NASDAQ:AQB) Using Too Much Debt?Nightfood Announces Rouses Markets as Newest Supermarket Distribution PartnerGlobal Vision Care Market (2020 to 2025) - Featuring Alcon, Carl Zeiss and Hoya Among Others
下一篇:Is Begbies Traynor Group plc's (LON:BEG) High P/E Ratio A Problem For Investors?
- ·Cara Therapeutics to Announce First Quarter 2020 Financial Results on May 11, 2020
- ·Number of voting rights as of November 30,2020
- ·Smithfield Foods Says That the Company and Its Team Members Want the Same Thing: To Protect Employee Health and Safety While Also Safeguarding America’s Food Supply
- ·Galleon Gold Acquires Additional Interest in the Neal Gold Project and Increases Previously Announced Private Placement
- ·RPT-Iowa's anger over Trump's ethanol policy gives Democrats opening
- ·The Gross Law Firm Announces Class Actions on Behalf of Shareholders of QD, LK and ALGN
- ·Video Meetings Can Be Superior Meetings
- ·Upstate New York could be getting a Soho House
- ·Outlook into the Worldwide Plasma Protein Therapeutics to 2025 - Featuring CSL Behring, Biotest AG & Baxter Among Others
- ·Clarivate Analytics Plc (CCC) Q1 Earnings and Revenues Miss Estimates
- ·Should Value Investors Buy Avis Budget Group (CAR) Stock?
- ·EU’s Digital Services Act Advocates Speak Up
- ·SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Sasol Limited of Class Action Lawsuit and Upcoming Deadline - SSL
- ·EnerDynamic Closes Fully Subscribed Non-Brokered Private Placement Corrected Version
- ·SHAREHOLDER ALERT: PTLA GERN AAN: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines
- ·Transformative Mega Trends Reshaping the Indian ICT Landscape
- ·Is Sirius International Insurance (SG) A Good Stock To Buy Now?
- ·TAL EDUCATION INVESTOR ALERT: National Litigation Firm Labaton Sucharow Announces Investigation of TAL Education Group (TAL) and Strongly Encourages Stock, Options, Derivative Investors with Losses to Contact the Firm
- ·FINAL DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against HDFC Bank Limited and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
- ·Warren calls out Sanders for supporters' ‘really ugly’ online attacks
- ·Euro zone manufacturing collapses in April as virus spreads -PMI
- ·JPMorgan Increases Stake in China Securities Venture to 71%
- ·A Sliding Share Price Has Us Looking At New Work SE's (ETR:NWO) P/E Ratio
- ·Kemper (KMPR) Q3 Earnings and Revenues Beat Estimates
- ·Company News for Mar 10, 2020
- ·The Attractive Combination That Could Earn Allegiance Bancshares, Inc. (NASDAQ:ABTX) A Place In Your Dividend Portfolio
- ·CEO Talks: Boucheron’s Hélène Poulit-Duquesne Takes the Positive View
- ·More drugmakers hike U.S. prices as new year begins
- ·Sanoma Oyj: Managers' Transactions
- ·Aligos Therapeutics Appoints Lesley Ann Calhoun as Chief Financial Officer
- ·Guidewire (GWRE) Q3 Earnings & Revenues Top Estimates, Stock Up
- ·Capstar Financial Holdings, Inc. (NASDAQ:CSTR) Passed Our Checks, And It's About To Pay A US$0.05 Dividend
- ·The Attractive Combination That Could Earn Allegiance Bancshares, Inc. (NASDAQ:ABTX) A Place In Your Dividend Portfolio
- ·ONGOING INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against GFL Environmental Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm
- ·Ingredion Incorporated Reports Third Quarter 2020 Results
- ·Walmart Stock Rises 3%