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If you sometimes consider yourself a contrarian investor, you may be interested in the following list. We ran a screen on stocks with high short selling interest (short floats above 20%) for those with the most significant net insider buying over the last six months. We further screened for significant net institutional buying over the current quarter. Short-sellers expect these names to underperform, but company insiders and institutional investors disagree.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

Do you think insiders and institutional investors are calling it right? Use this list as a starting point for your own analysis.

List sorted by float short.

1. Diamond Foods, Inc. (NASDAQ:DMND): Engages in processing, marketing, and distributing snack products, as well as culinary, in-shell, and ingredient nuts. Market cap of $630.47M. Short float at 55.37%. Net institutional shares purchased over the current quarter at 1.4M, which is 7.19% of the company's 19.47M share float. Net insider shares purchased over the last six months at 8.23K, which is 0.04% of the company's 19.47M share float. The stock has had a couple of great days, gaining 5.54% over the last week.

2. ITT Educational Services Inc. (NYSE:ESI): Offers post-secondary degree programs in the U.S. that provide diplomas as well as associate's, bachelor's, and master's degrees. Market cap of $1.54B. Short float at 40.63%. Net institutional shares purchased over the current quarter at 1.8M, which is 10.02% of the company's 17.96M share float. Net insider shares purchased over the last six months at 374.0K, which is 2.08% of the company's 17.96M share float. Might be undervalued at current levels, with a PEG ratio at 0.82, and P/FCF ratio at 3.38. The stock has had a couple of great days, gaining 14.81% over the last week.

3. Texas Industries Inc. (NYSE:TXI): Engages in the production and supply of heavy construction materials in the United States. Market cap of $862.92M. Short float at 32.05%. Net institutional shares purchased over the current quarter at 602.3K, which is 8.16% of the company's 7.38M share float. Net insider shares purchased over the last six months at 344.60K, which is 4.67% of the company's 7.38M share float. The stock has had a couple of great days, gaining 8.49% over the last week.

4. Rex Energy Corporation (NASDAQ:REXX): Operates as an independent oil and gas company in the Appalachian, Illinois, and Denver-Julesburg Basins. Market cap of $692.64M. Short float at 29.04%. Net institutional shares purchased over the current quarter at 3.7M, which is 10.41% of the company's 35.54M share float. Net insider shares purchased over the last six months at 77.33K, which is 0.22% of the company's 35.54M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.38). The stock has had a couple of great days, gaining 15.21% over the last week.

5. MAKO Surgical Corp. (NASDAQ:MAKO): A medical device company, markets its advanced robotic arm solution and orthopedic implants for orthopedic procedures in the United States and internationally. Market cap of $1.10B. Short float at 26.48%. Net institutional shares purchased over the current quarter at 2.5M, which is 6.82% of the company's 36.64M share float. Net insider shares purchased over the last six months at 485.14K, which is 1.32% of the company's 36.64M share float. The stock has gained 74.27% over the last year.

6. Seattle Genetics Inc. (NASDAQ:SGEN): Focuses on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune diseases in the United States. Market cap of $1.94B. Short float at 22.03%. Net institutional shares purchased over the current quarter at 7.1M, which is 6.26% of the company's 113.40M share float. Net insider shares purchased over the last six months at 1.48M, which is 1.30% of the company's 113.40M share float. The stock has had a good month, gaining 12.25%.

7. Miller Energy Resources, Inc. (NYSE:MILL): Engages in the exploration, production, and drilling of oil and natural gas resources in the United States. Market cap of $111.68M. Short float at 18.24%. Net institutional shares purchased over the current quarter at 1.8M, which is 6.31% of the company's 28.52M share float. Net insider shares purchased over the last six months at 10.0K, which is 0.04% of the company's 28.52M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.48). The stock has lost 45.51% over the last year.

8. Leap Wireless International Inc. (LEAP): Provides digital wireless services under the “Cricket' brand name in the United States. Market cap of $652.51M. Short float at 17.57%. Net institutional shares purchased over the current quarter at 2.7M, which is 5.53% of the company's 48.80M share float. Net insider shares purchased over the last six months at 40.0K, which is 0.08% of the company's 48.80M share float. The stock has had a couple of great days, gaining 6.97% over the last week.

9. Conns Inc. (NASDAQ:CONN): Operates as a specialty retailer of home appliances, consumer electronics, home office equipment, lawn and garden products, mattresses, and furniture in the United States. Market cap of $343.36M. Short float at 15.42%. Net institutional shares purchased over the current quarter at 560.7K, which is 3.24% of the company's 17.29M share float. Net insider shares purchased over the last six months at 20.0K, which is 0.12% of the company's 17.29M share float. The stock has gained 149.77% over the last year.

Institutional data sourced from Fidelity; short data from Yahoo Finance; all other data sourced from Finviz.

Source: 9 Shorted Stocks With Insider And Fund Buying