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Interested to know which stocks hedge funds are selling? Analysts often follow the buying and selling trends of institutional investors such as hedge fund managers because they have access to sophisticated research and have great experience in choosing investments.

We searched the S&P 500 (NYSEARCA:SPY) for stocks that have seen the most net institutional selling over the current quarter, expressed as a percent of share float.

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.‬

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month.

(Click chart for more detail)

Do you agree with hedge funds on these names? Use this list as a starting-off point for your own analysis.

List sorted by net institutional shares purchased as a percent of share float.

1. Alpha Natural Resources, Inc. (NYSE:ANR): Engages in the production, processing, and sale of coal in the United States. Market cap of $4.71B. Net institutional shares sold over the current quarter at 43.2M, which is 19.19% of the company's 225.08M share float. The stock has had a couple of great days, gaining 5.53% over the last week. The stock has performed poorly over the last month, losing 29.81%.

2. Cephalon Inc. (NASDAQ:CEPH): Engages in the discovery, development, and commercialization of products for central nervous system, inflammatory disease, pain, and oncology therapeutic areas. Market cap of $6.35B. Net institutional shares sold over the current quarter at 13.2M, which is 18.67% of the company's 70.71M share float. The stock has gained 28.07% over the last year.
3. Lexmark International Inc. (NYSE:LXK): Develops, manufactures, and supplies printing and imaging solutions for offices. Market cap of $2.36B. Net institutional shares sold over the current quarter at 8.5M, which is 10.85% of the company's 78.36M share float. The stock has had a couple of great days, gaining 6.57% over the last week.

4. United States Steel Corp. (NYSE:X): Produces and sells steel mill products in North America and Central Europe. Market cap of $3.47B. Net institutional shares sold over the current quarter at 14.1M, which is 9.85% of the company's 143.21M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.5). The stock has had a couple of great days, gaining 7.16% over the last week. The stock has performed poorly over the last month, losing 13.35%.

5. Big Lots Inc. (NYSE:BIG): Operates as a broad line closeout retailer in the United States. Market cap of $2.28B. Net institutional shares sold over the current quarter at 6.2M, which is 9.63% of the company's 64.36M share float. The stock has had a good month, gaining 11.22%.

6. Torchmark Corp. (NYSE:TMK): Provides individual life and supplemental health insurance products, and annuities to middle income households. Market cap of $4.0B. Net institutional shares sold over the current quarter at 9.7M, which is 9.38% of the company's 103.43M share float. Might be undervalued at current levels, with a PEG ratio at 0.93, and P/FCF ratio at 4.22. The stock has had a couple of great days, gaining 6.82% over the last week.

7. Janus Capital Group, Inc. (NYSE:JNS): A publicly owned asset management holding company. Market cap of $1.26B. Net institutional shares sold over the current quarter at 16.5M, which is 9.16% of the company's 180.04M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.66). Might be undervalued at current levels, with a PEG ratio at 0.91, and P/FCF ratio at 4.89. The stock has had a couple of great days, gaining 13.76% over the last week.

8. Gap Inc. (NYSE:GPS): Operates as a specialty retailing company. Market cap of $9.11B. Net institutional shares sold over the current quarter at 30.7M, which is 8.38% of the company's 366.29M share float. The stock has had a couple of great days, gaining 6.19% over the last week.

9. H&R Block, Inc. (NYSE:HRB): Provides tax preparation, retail banking, and various business advisory and consulting services. Market cap of $4.53B. Net institutional shares sold over the current quarter at 21.8M, which is 7.65% of the company's 285.09M share float. The stock is a short squeeze candidate, with a short float at 7.26% (equivalent to 5.08 days of average volume). The stock has had a couple of great days, gaining 8.18% over the last week.

10. LSI Corporation (NASDAQ:LSI): Designs, develops, and markets storage and networking semiconductors and storage systems worldwide. Market cap of $3.27B. Net institutional shares sold over the current quarter at 41.2M, which is 7.21% of the company's 571.11M share float. The stock has had a couple of great days, gaining 6.74% over the last week. The stock has performed poorly over the last month, losing 12.31%.

11. Cintas Corporation (NASDAQ:CTAS): Provides corporate identity uniforms and related business services in North America and Latin America, Europe, and Asia. Market cap of $3.86B. Net institutional shares sold over the current quarter at 7.9M, which is 7.20% of the company's 109.69M share float. The stock has gained 8.29% over the last year.

12. CenturyLink, Inc. (NYSE:CTL): Operates as an integrated communications company. Market cap of $21.19B. Net institutional shares sold over the current quarter at 38.9M, which is 6.51% of the company's 597.95M share float. The stock has had a couple of great days, gaining 6.64% over the last week.

13. Monster Worldwide, Inc. (NYSE:MWW): Provides online employment solutions worldwide. Market cap of $1.11B. Net institutional shares sold over the current quarter at 7.7M, which is 6.45% of the company's 119.35M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.19). The stock has had a couple of great days, gaining 16.35% over the last week.

14. Lowe's Companies Inc. (NYSE:LOW): Operates as a home improvement retailer in the United States, Canada, and Mexico. Market cap of $25.99B. Net institutional shares sold over the current quarter at 78.4M, which is 6.22% of the company's 1.26B share float. The stock has lost 3.91% over the last year.

15. Legg Mason Inc. (NYSE:LM): Operates as an asset management company worldwide. Market cap of $3.96B. Net institutional shares sold over the current quarter at 7.4M, which is 6.14% of the company's 120.45M share float. The stock has lost 14.37% over the last year.

16. Parker Hannifin Corporation (NYSE:PH): Manufactures fluid power systems, electromechanical controls, and related components. Market cap of $11.02B. Net institutional shares sold over the current quarter at 8.5M, which is 5.53% of the company's 153.59M share float. The stock has recently rebounded, and is currently trading 10.39% above its SMA20 and 8.52% above its SMA50. However, the stock still trades 12.13% below its SMA200. The stock has had a couple of great days, gaining 12.09% over the last week.

17. Darden Restaurants, Inc. (NYSE:DRI): Operates full service restaurant in the United States and Canada. Market cap of $6.11B. Net institutional shares sold over the current quarter at 6.5M, which is 4.97% of the company's 130.87M share float. The stock has had a couple of great days, gaining 8.15% over the last week.

18. Wyndham Worldwide Corporation (NYSE:WYN): Provides various hospitality products and services to individual consumers and business customers in the United States and internationally. Market cap of $5.10B. Net institutional shares sold over the current quarter at 7.8M, which is 4.80% of the company's 162.49M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 3.06). The stock has had a couple of great days, gaining 8.94% over the last week.

19. Novellus Systems, Inc. (NASDAQ:NVLS): Develops, manufactures, sells, and supports equipment used in the fabrication of integrated circuits. Market cap of $2.20B. Net institutional shares sold over the current quarter at 3.0M, which is 4.64% of the company's 64.61M share float. Might be undervalued at current levels, with a PEG ratio at 0.78, and P/FCF ratio at 6.75. The stock has had a couple of great days, gaining 10.54% over the last week.

20. Broadcom Corp. (NASDAQ:BRCM): Designs and develops semiconductors for wired and wireless communications. Market cap of $19.36B. Net institutional shares sold over the current quarter at 19.5M, which is 3.99% of the company's 489.29M share float. The stock has lost 2.19% over the last year.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 20 S&P 500 Stocks Being Sold Off By Hedge Funds