This is good info. They must have just posted this, since I didn't see that information recently.
In terms of short-term price action, this is a net negative IMO. There position is a large stock overhang. However, at least it does explain the lid on the stock. If they reduce selling it becomes a big positive or if they clear out their position the price could be off to the races.
You know what? Blue ridge still holds a huge amount of shares and overall institutional holders have increased.
I am more than happy to see that Renaissance technologies and OShaughnnessy have significantly increased their stake. These are absolutely high performance funds and thats just their entry point. The statements of the past week indicate that there will a large increase in institutional buying, and volume supports this thesis.
Good Info. Good discussions. I wish there were more post like this. Thank you all.
Hopefully we can all assume that the selling by Blue Ridge was more of a portfolio re-allocation on their part. They own cheap shares and made money. they still hold a lot and are most likely betting on new 52 week highs. XIN is not very liquid on most days. So a huge holder "trimming" a position can depress the stock.
Also I think a lot of the down movement is inpatient longs giving up. That's what happens with illiquid value stocks a lot of times.