The cluster shows a clear divergence: two full exits (Citadel, Federated Hermes) signal conviction selling, while Fil's large add suggests a contrarian or long-term thesis. Monitor upcoming Q4 13F filings to see if the selling trend continues or reverses.
Executive Summary
Institutional activity in WBTN during Q3 2024 was mixed: two asset managers (Fil and Legal & General) added to positions totaling $22.3M in current value, while three sellers — including Citadel and Federated Hermes — fully exited or trimmed, removing $49.6M in combined value. The net selling pressure of ~$49.6M vs. buying of $22.3M suggests a cautious or thesis-reassessment quarter for the stock, though the buying by Fil (+55.9% shares) provides a notable counterweight.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$27.3M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Fil | ADD | +55.9% | $22.3M | -$6.2M |
| Legal & General Group | ADD | +41.9% | $16.0K | -$6.6K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Federated Hermes | EXIT | -100% | $32.1M | -$32.1M |
| Citadel | EXIT | -100% | $12.1M | -$12.1M |
| Pictet Asset Management Holdin | TRIM | -38.2% | $7.7M | -$5.3M |
Key Facts
- 2 institutional buyers added positions totaling $22.3M in current value; net buyer change was -$6.3M (driven by stock price decline).
- 3 institutional sellers reduced holdings by a net -$49.5M, including two full exits (Citadel and Federated Hermes).
- Fil (asset manager) added 698.5K shares (+55.9%), now holding 1.95M shares worth $22.3M.
- Federated Hermes fully exited a 1.41M-share position worth $32.1M at prior quarter-end.
- Citadel (quant) fully exited 530.8K shares worth $12.1M.
- Pictet Asset Management trimmed 38.2% of its position, reducing holdings from $7.7M to $2.4M.
- All activity is from Q3 2024 quarter-end data (45-day lag); positions may have changed since.
Financial Impact
Net institutional selling of ~$49.5M vs. buying of $22.3M, for a net outflow of ~$27.2M across 5 tracked funds.
Risk Factors
- 13F data is 45+ days old; current positions may differ materially.
- Two full exits by notable funds (Citadel, Federated Hermes) could indicate undisclosed negative catalysts.
- Net selling pressure of $27.2M may weigh on near-term sentiment despite buyer conviction.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-WBTN-2024-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $9.57 | awaiting T+5 | — | — |
Oct 5, 2026 21d ago | 8-K | $10.20 $10.02 | ▼ −1.76% | ▼ −1.63% | — |
Aug 10, 2026 11w ago | 8-K | $8.81 $8.25 | ▼ −6.30% | ▼ −5.90% | — |
Jun 11, 2026 19w ago | Institutional Cluster | $12.00 $11.49 | ▼ −4.25% | ▼ −4.92% | — |
Apr 27, 2026 26w ago | Press Release | $12.18 $13.13 | ▲ +7.80% | ▲ +6.11% | — |
Apr 22, 2026 26w ago | DEFA14A | $11.87 $12.27 | ▲ +3.37% | ▲ +1.89% | — |
Apr 13, 2026 28w ago | 8-K | $11.30 $12.32 | ▲ +9.03% | ▲ +7.63% | — |
Mar 5, 2026 33w ago | 8-K | $10.38 $9.01 | ▼ −13.20% | ▼ −10.96% | — |
Mar 3, 2026 33w ago | Press Release | $10.45 $9.10 | ▲ +12.88% | ▲ +11.54% | — |
US Market Status
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