Based on 6 hedge funds · latest filing: 2024 Q2 · updated quarterly
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Selling streak — 6 quarters in a row
For 6 consecutive quarters, 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 4% of 3.0Y high
4% of all-time peak
Only 6 funds hold this stock today versus a peak of 160 funds at 2021 Q4 — just 4% 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 — 94% fewer funds vs a year ago
fund count last 6Q
92 fewer hedge funds hold this stock compared to a year ago (-94% 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 27% buying
3 buying8 selling
Last quarter: 8 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 — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 7 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Value +181% but shares only +61% — price-driven
Last quarter: the total dollar value of institutional holdings rose +181%, but actual share count only changed +61%. 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.
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Saturation — most institutions already know this story
13 → 16 → 7 → 4 → 3 new funds/Q
New funds entering each quarter: 16 → 7 → 4 → 3. 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 1.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.