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Do you consider yourself a contrarian investor, always looking for opportunities against the trend? For ideas on how to start your own contrarian search, we ran a screen.

We began by screening the retail industry for highly shorted stocks, with float shorts above 10%.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall.

Do you think these stocks are poised for short covering? Use this list as a starting point for your own analysis.

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

1. GameStop Corp. (NYSE:GME): Operates as a retailer of video game products and personal computer entertainment software. Market cap at $2.31B, most recent closing price at $17.74. Float short at 42.57%. Net institutional purchases in the current quarter at 20.1M shares, which represents about 15.69% of the company's float of 128.09M shares.

2. Barnes & Noble, Inc. (NYSE:BKS): Operates as a content, commerce, and technology company in the United States. Market cap at $912.03M, most recent closing price at $15.15. Float short at 57.61%. Net institutional purchases in the current quarter at 3.8M shares, which represents about 12.36% of the company's float of 30.75M shares.

3. Vera Bradley, Inc. (NASDAQ:VRA): Engages in the design, production, marketing, and retail of functional accessories for women under the Vera Bradley brand. Market cap at $950.83M, most recent closing price at $23.46. Float short at 36.13%. Net institutional purchases in the current quarter at 2.1M shares, which represents about 10.43% of the company's float of 20.13M shares.

4. RadioShack Corp. (NYSE:RSH): Engages in the retail sale of consumer electronic goods and services through its RadioShack store chain and kiosk operations. Market cap at $411.64M, most recent closing price at $4.14. Float short at 36.10%. Net institutional purchases in the current quarter at 10.1M shares, which represents about 10.26% of the company's float of 98.46M shares.

5. Deckers Outdoor Corp. (NYSE:DECK): Engages in the design, production, marketing, and brand management of footwear and accessories for outdoor activities and everyday casual lifestyle use. Market cap at $1.85B, most recent closing price at $47.99. Float short at 23.45%. Net institutional purchases in the current quarter at 3.6M shares, which represents about 9.8% of the company's float of 36.75M shares.

6. hhgregg, Inc. (NYSE:HGG): Operates as a specialty retailer of consumer electronics, home appliances, and related services. Market cap at $371.6M, most recent closing price at $10.22. Float short at 30.74%. Net institutional purchases in the current quarter at 1.3M shares, which represents about 9.43% of the company's float of 13.78M shares.

7. G-III Apparel Group, Ltd. (NASDAQ:GIII): Designs, manufactures, imports, and markets a range of outerwear and sportswear apparel to retailers primarily in the United States. Market cap at $457.31M, most recent closing price at $22.90. Float short at 13.03%. Net institutional purchases in the current quarter at 933.9K shares, which represents about 5.83% of the company's float of 16.01M shares.

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

Source: 7 Highly Shorted Retail Stocks Being Bought Up By Hedge Funds