Based on 37 hedge funds · latest filing: 2022 Q2 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
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Below peak — only 53% of 3.0Y high
53% of all-time peak
Only 37 funds hold this stock today versus a peak of 70 funds at 2021 Q1 — just 53% 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 — 34% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold this stock compared to a year ago (-34% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Heavy selling pressure — only 31% buying
10 buying22 selling
Last quarter: 22 funds sold vs only 10 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 — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 5 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Buying through price weakness — shares +2%, value -24%
Last quarter: funds added +2% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
7 → 6 → 5 → 5 → 2 new funds/Q
New funds entering each quarter: 6 → 5 → 5 → 2. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
Exit risk score 1.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.