Based on 2 hedge funds · latest filing: 2014 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their LNCR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 1% of 3.0Y high
1% of all-time peak
Only 2 funds hold LNCR today versus a peak of 163 funds at 2012 Q2 — just 1% 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 — 99% fewer funds vs a year ago
fund count last 6Q
161 fewer hedge funds hold LNCR compared to a year ago (-99% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 40% buying
2 buying3 selling
Last quarter: 3 funds reduced or exited vs 2 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 1 → 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 +105%, value -42%
Last quarter: funds added +105% more shares while total portfolio value only changed -42%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~2 new funds/quarter
34 → 0 → 1 → 1 → 2 new funds/Q
New funds entering each quarter: 0 → 1 → 1 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.