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Registered User
Joined: 12/30/2004
Posts: 35
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I was just looking at MDC and I noticed that the percent shares held by insiders and institutions totaled greater than 100%. How is that possible?
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Registered User
Joined: 12/30/2004
Posts: 35
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Telechart Data Sheet. 23.84 + 77.40 = 101.24
If you look up MDC in the News section of Worden Studio, I think you will find different numbers.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Keep in mind that the following statements are true;
1) Every insider is not an institution
2) Every institution is not an insider
3) Some (if not many) insiders are institutions
4) Some (if not many) nstitutions are insiders
This means that:
shares owned by insiders+ shares owned by institutions can be > total of shares.
I can be an insider and an institution so my percentage shares will get counted in both of these groups:
percent shares held by insiders
and
percent shares held by institutions
If shares can be counted in both camps (thus counted twice), the percentages can be added together and be more than 100. These groups are not mutually exclusive.
Does that help?
- Craig
Here to Help!
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Registered User
Joined: 12/30/2004
Posts: 35
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Thanks Craig. So I guess that means that a mutual fund manager whose fund holds MDC might also be an officer or board member of MDC? That sounds like a conflict of interest with the potential for trading based on insider knowledge.
I still don't understand why the News section of Worden Studio has different data for % held by institutions and % held by insiders than TC2005. Does the data come from different sources or cover different time periods?
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Registered User
Joined: 12/31/2004
Posts: 382
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I look up MdC on shorts squeeze 35,000,000
% Held by Insiders 23.25 %
% Held by Institutions 71.90
thats a little bit over 95%
theres a 13.37% of the float is short on MDC
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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The Worden Studio info is not updated at this point. TeleChart has the current information.
An insider does not have to be on the board. An insider is any person who has knowledge of, or access to, valuable nonpublic information about a corporation.
- Craig
Here to Help!
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Registered User
Joined: 12/19/2004
Posts: 457
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For legal purposes, an insider is anyone with >= 5% of shares outstanding, as far as I know. So it doesn't surprise me that the insider + institutions sum to over 100%. The institution does not need to have someone on the board to be considered an insider.
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