What Stands Behind The Decline Of These 5 Stocks Today

Also falling on Thursday afternoon was KB Home (NYSE:KBH), down by almost 10% on disappointing fourth-quarter results. The small cap homebuilder reported earnings of $0.43 per share on revenue of $985.78 million, well below the Street’s consensus estimates, which called for earnings of $0.51 per share and revenue of $1.074 billion.

Unlike its peers above, KB Home (NYSE:KBH) has been losing institutional backers. Over the third quarter, the number of hedge funds (among those we track) with long stakes in the company fell by 24% to 19. Interestingly, these funds own 26.3% of the company’s total outstanding stock; Ken Fisher’s Fisher Asset Management alone held almost 4% of the stock, or about 3.53 million shares.

JD.Com Inc (ADR) (NASDAQ:JD) lost more than 4.1% on Thursday as the Chinese stock market plummeted. After a 7% tumble, automatic circuit breakers halted trading — for the second time this week.

Same as in the previous case, hedge fund interest in JD.Com Inc (ADR) (NASDAQ:JD) has also been declining. Over the third quarter, the number of funds with long positions in the stock fell from 75 to 71. In fact, the largest shareholder among the institutions we track, Chase Coleman’s Tiger Global Management, trimmed its exposure by 19% over the period, taking its holdings to roughly 57.52 million shares – valued at almost $1.5 billion.

Finally, there’s HP Inc (NYSE:HPQ), which was trading down about 3.7% on Thursday afternoon after Wells Fargo’s Maynard Um downgraded the stock to ‘Market Perform’ from ‘Outperform’. The expert argued that the company lacks “material catalysts” for 2016 and that “top-line pressures in the company’s core PC and printing ops will more than offset growth opportunities”.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.