Based on 38 hedge funds · latest filing: 2023 Q3 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added this stock than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term trade.
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Below peak — only 69% of 3.0Y high
69% of all-time peak
Only 38 funds hold this stock today versus a peak of 55 funds at 2021 Q1 — just 69% 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 — 7% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold this stock compared to a year ago (-7% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More buyers than sellers — 67% buying
16 buying8 selling
Last quarter: 16 funds were net buyers (7 opened a brand new position + 9 added to an existing one). Only 8 were sellers (7 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 3 → 2 → 7. 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 +82%, value +26%
Last quarter: funds added +82% more shares while total portfolio value only changed +26%. 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
5 → 9 → 3 → 2 → 7 new funds/Q
New funds entering each quarter: 9 → 3 → 2 → 7. 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 1.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.