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The following is a list of stocks that have lagged the rest of the market over the last quarter. Institutional investors seem to be capitalizing on the recent weakness in these names--all of the stocks mentioned below have seen significant institutional buying over the last three months.

The smart money seems to think the recent drop in these companies present a buying opportunity--what do you think? Full details below.

Institutional data sourced from Reuters, performance and short float data sourced from Finviz.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research. Note: The numbers on top of items represent the forward P/E ratio, if available.

The list has been sorted by the change in institutional ownership.

1. Flagstar Bancorp Inc. (FBC): Savings & Loans Industry. Market cap of $457.78M. The stock has lost -27.04% over the last quarter. Institutional investors currently own 201,401,971 shares vs. 129,090,699 shares held three months ago (+56.02% change). Short float at 2.86%, which implies a short ratio of 1.86 days. The stock has lost -73.02% over the last year.

2. Cadence Pharmaceuticals Inc. (CADX): Biotechnology Industry. Market cap of $367.72M. The stock has lost -16.72% over the last quarter. Institutional investors currently own 56,561,251 shares vs. 49,974,593 shares held three months ago (+13.18% change). Short float at 28.12%, which implies a short ratio of 22.45 days. The stock has lost -28.37% over the last year.

3. Hampton Roads Bankshares Inc. (HMPR): Regional Bank. Market cap of $451.89M. The stock has lost -31.96% over the last quarter. Institutional investors currently own 516,263,468 shares vs. 457,624,559 shares held three months ago (+12.81% change). Short float at 0.26%, which implies a short ratio of 6.1 days. The stock has lost -61.63% over the last year.

4. Royal Bank of Scotland Group plc (RBS): Foreign Money Center Banks Industry. Market cap of $67.45B. The stock has lost -18.63% over the last quarter. Institutional investors currently own 4,297,442 shares vs. 3,849,464 shares held three months ago (+11.64% change). Short float at 0.1%, which implies a short ratio of 2.26 days. The stock has gained 8.05% over the last year.

5. NuVasive, Inc. (NUVA): Medical Instruments & Supplies Industry. Market cap of $1.03B. The stock has lost -24.33% over the last quarter. Institutional investors currently own 57,783,644 shares vs. 52,398,269 shares held three months ago (+10.28% change). Short float at 17.49%, which implies a short ratio of 5.63 days. The stock has lost -18.64% over the last year.

6. Cninsure Inc. (CISG): Insurance Brokers Industry. Market cap of $789.68M. The stock has lost -27.27% over the last quarter. Institutional investors currently own 29,158,701 shares vs. 26,664,483 shares held three months ago (+9.35% change). Short float at 12.62%, which implies a short ratio of 5.22 days. The stock has lost -17.37% over the last year.

7. Barclays PLC (BCS): Foreign Money Center Banks Industry. Market cap of $51.51B. The stock has lost -12.89% over the last quarter. Institutional investors currently own 54,295,211 shares vs. 50,096,287 shares held three months ago (+8.38% change). Short float at 0.19%, which implies a short ratio of 2.03 days. The stock has lost -10.28% over the last year.

8. Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk. (TLK): Telecom Services Industry. Market cap of $17.45B. The stock has lost -18.6% over the last quarter. Institutional investors currently own 48,399,581 shares vs. 45,253,525 shares held three months ago (+6.95% change). Short float at 0.23%, which implies a short ratio of 1.61 days. The stock has lost -9.9% over the last year.

9. Skechers USA Inc. (SKX): Apparel Footwear & Accessories Industry. Market cap of $931.64M. The stock has lost -19.61% over the last quarter. Institutional investors currently own 39,679,385 shares vs. 37,665,274 shares held three months ago (+5.35% change). Short float at 20.69%, which implies a short ratio of 3.66 days. The stock has lost -33.11% over the last year.

10. Medicis Pharmaceutical Corp. (MRX): Biotechnology Industry. Market cap of $1.59B. The stock has lost -13.73% over the last quarter. Institutional investors currently own 59,039,580 shares vs. 56,538,633 shares held three months ago (+4.42% change). Short float at 6.85%, which implies a short ratio of 4.59 days. The stock has lost -4.51% over the last year.

Source: 10 Underperforming Stocks Being Snapped Up by Smart Money