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Do you like to follow the buying and selling trends of the smart money? These smart money investors include hedge fund managers and mutual fund managers, and their experience and access to sophisticated research makes their trades very interesting to the market.

We ran a screen with this idea in mind. We began by screening for outperforming retail stocks, with quarterly performance above 20%. We then screened these names for those that institutional investors disagree on, with significant net institutional selling over the last quarter (net institutional sales at least 5% of share float over the last quarter).

Even though these stocks have been performing well lately, hedge fund managers are cautious on these names. Are they wrong, or do they know something we don't?

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

Do you think these names will continue rallying? Use this list as a starting point for your own analysis.

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

1. Perry Ellis International Inc. (PERY): Engages in designing, sourcing, marketing, and licensing apparel products for men and women in the United States and internationally. Market cap at $277.86M. Price at $17.57. Performance over the last quarter at 27.22%. Net institutional sales in the current quarter at -2.3M shares, which represents about 22.2% of the company's float of 10.36M shares.

2. rue21, Inc. (RUE): Operates as a specialty apparel retailer in the United States. Market cap at $717.02M. Price at $28.43. Performance over the last quarter at 46.82%. Net institutional sales in the current quarter at -2.8M shares, which represents about 17.98% of the company's float of 15.57M shares.

3. K-Swiss Inc. (KSWS): Engages in the design, development, and marketing of athletic footwear for sports use, fitness activities, and casual wear. Market cap at $145.60M. Price at $3.68. Performance over the last quarter at 39.12%. Net institutional sales in the current quarter at -2.6M shares, which represents about 10.28% of the company's float of 25.30M shares.

4. AnnTaylor Stores Corp. (ANN): Operates as a specialty retailer of women's apparel, shoes, and accessories primarily in the United States. Market cap at $1.38B. Price at $27.44. Performance over the last quarter at 23.35%. Net institutional sales in the current quarter at -4.0M shares, which represents about 9.16% of the company's float of 43.67M shares.

5. GildanActivewear Inc. (GIL): Manufactures and sells T-shirts, activewear, underwear, and socks to wholesale screen printers, embroiderers, and retailers in North America, Europe, and internationally. Market cap at $3.31B. Price at $26.68. Performance over the last quarter at 43.19%. Net institutional sales in the current quarter at -6.8M shares, which represents about 6.67% of the company's float of 101.96M shares.

6. OfficeMax Incorporated (OMX): Distributes business-to-business and retail office products. Market cap at $467.48M. Price at $5.04. Performance over the last quarter at 20.54%. Net institutional sales in the current quarter at -5.5M shares, which represents about 6.5% of the company's float of 84.61M shares.

7. Citi Trends (CTRN): Operates as a retailer of urban fashion apparel and accessories in the United States. Market cap at $156.23M. Price at $10.25. Performance over the last quarter at 20.81%. Net institutional sales in the current quarter at -886.3K shares, which represents about 6.26% of the company's float of 14.16M shares.

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

Source: 7 Outperforming Retailers Being Sold Off By Hedge Funds