Based on 32 hedge funds · latest filing: 2025 Q3 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their MESA 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 62% of 3.0Y high
62% of all-time peak
Only 32 funds hold MESA today versus a peak of 52 funds at 2022 Q4 — just 62% 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.
📉
Outflows — 20% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold MESA compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 50% buying
16 buying16 selling
Last quarter: 16 funds bought or added vs 16 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 4 → 8 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
💰
Value +53% but shares only +10% — price-driven
Last quarter: the total dollar value of institutional holdings rose +53%, but actual share count only changed +10%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~5 new funds/quarter
7 → 9 → 4 → 8 → 5 new funds/Q
New funds entering each quarter: 9 → 4 → 8 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 1.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.