Based on 2 hedge funds · latest filing: 2024 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their MGAM 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 1.8Y high
25% of all-time peak
Only 2 funds hold MGAM today versus a peak of 8 funds at 2022 Q3 — 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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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding MGAM is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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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 — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 3 → 0. 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 -24%, value -61%
Last quarter: funds added -24% more shares while total portfolio value only changed -61%. 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
0 → 1 → 3 → 3 → 0 new funds/Q
New funds entering each quarter: 1 → 3 → 3 → 0. MGAM is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 1.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.