Based on 8 hedge funds · latest filing: 2025 Q3 · updated quarterly
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Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their GGR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 25% of 3.0Y high
25% of all-time peak
Only 8 funds hold GGR today versus a peak of 32 funds at 2023 Q4 — just 25% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 75% fewer funds vs a year ago
fund count last 6Q
24 fewer hedge funds hold GGR compared to a year ago (-75% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 33% buying
3 buying6 selling
Last quarter: 6 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 3 → 2 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Saturation — most institutions already know this story
9 → 6 → 3 → 2 → 0 new funds/Q
New funds entering each quarter: 6 → 3 → 2 → 0. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.