Re: [CANSLIM] what is to much ownership??

From: "Katherine Malm" <kmalm@earthlink.net>
Subject: Re: [CANSLIM] what is to much ownership??
Date: Tue, 26 Feb 2002 15:40:10 -0600
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BlankRich,

I'm a little suspect of the jump between 44.7 & 87.9% ownership in that =
one period. I'd bet the numbers weren't adjusted for a split somewhere, =
which isn't all that uncommon in the databases.

Opinion varies on the maximum desirable % ownership, but Mark Boucher =
suggests 10-40%. When the number of shares outstanding is as small as =
your example, however, there might be other variables to consider. For =
example, how many are authorized and do they have any plans for a =
primary offering any time soon?  Is that really 13.9m shares outstanding =
or 13.9m shares in float? If it's a fairly new IPO and those are float =
shares, a good number of shares may still be in lockup and classified as =
insider ownership. Is this a spin-off with a parent company that owns =
most of the shares?

Katherine
  ----- Original Message -----=20
  From: Rich W=20
  To: canslim@lists.xmission.com=20
  Sent: Tuesday, February 26, 2002 3:11 PM
  Subject: [CANSLIM] what is to much ownership??


  Tom or anyone else who has an answer to this.
  Here is a stock that has increased institutional ownership since =
July,01
  Top number is # of funds, banks, etc.
  2nd row is % of ownership
        72 95 104 116 140 149 158=20
        46.9 38.8 35.3 44.7 87.9 91.4 92.4=20


  Total shares outstanding =3D=3D  13,910,000  @21.50

  From Market Guide

   is this much ownership too much, and what is the Max to look for=20


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<DIV><FONT face=3D"Times New Roman" size=3D3>Rich,</FONT></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT>&nbsp;</DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>I'm a little suspect of the =
jump=20
between 44.7 &amp; 87.9% ownership in that one period. I'd bet the =
numbers=20
weren't adjusted for a split somewhere, which isn't all that uncommon in =
the=20
databases.</FONT></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT>&nbsp;</DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>Opinion varies on the =
maximum desirable=20
% ownership, but Mark Boucher suggests 10-40%. When the number of shares =

outstanding is as small as your example, however, there might be other =
variables=20
to consider. For example, how many are authorized and do they have any =
plans for=20
a primary offering any time soon?&nbsp; Is that really 13.9m shares =
outstanding=20
or 13.9m shares in float? If it's a fairly new IPO and those are float =
shares, a=20
good number of shares may still be in lockup and classified as insider=20
ownership. Is this a spin-off with a parent company that owns most of =
the=20
shares?</FONT></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT>&nbsp;</DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>Katherine</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
  <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV=20
  style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
  <A title=3Drich1334@brick.net href=3D"mailto:rich1334@brick.net">Rich =
W</A> </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
  =
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
 </DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Tuesday, February 26, =
2002 3:11=20
  PM</DIV>
  <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [CANSLIM] what is to =
much=20
  ownership??</DIV>
  <DIV><BR></DIV>
  <DIV><FONT size=3D3>Tom or anyone else who has an answer to =
this.</FONT></DIV>
  <DIV><FONT size=3D3>Here is a stock that has increased institutional =
ownership=20
  since July,01</FONT></DIV>
  <DIV><FONT size=3D3>Top number is # of funds, banks, etc.</FONT></DIV>
  <DIV><FONT size=3D3>2nd row is % of ownership</FONT></DIV>
  <P>
  <TABLE style=3D"WIDTH: 235pt; BORDER-COLLAPSE: collapse" =
cellSpacing=3D0=20
  cellPadding=3D0 width=3D312 border=3D0 x:str>
    <COLGROUP>
    <COL style=3D"WIDTH: 29pt; mso-width-source: userset; mso-width-alt: =
1426"=20
    width=3D39>
    <COL style=3D"WIDTH: 34pt; mso-width-source: userset; mso-width-alt: =
1645"=20
    span=3D2 width=3D45>
    <COL style=3D"WIDTH: 32pt; mso-width-source: userset; mso-width-alt: =
1536"=20
    width=3D42>
    <COL style=3D"WIDTH: 33pt; mso-width-source: userset; mso-width-alt: =
1609"=20
    width=3D44>
    <COL style=3D"WIDTH: 35pt; mso-width-source: userset; mso-width-alt: =
1682"=20
    width=3D46>
    <COL style=3D"WIDTH: 38pt; mso-width-source: userset; mso-width-alt: =
1865"=20
    width=3D51>
    <TBODY>
    <TR style=3D"HEIGHT: 12.75pt" height=3D17>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 29pt; BORDER-BOTTOM: #ece9d8; HEIGHT: 12.75pt; =
BACKGROUND-COLOR: transparent"=20
      align=3Dright width=3D39 height=3D17 x:num><FONT =
size=3D2>72</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 34pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D45 x:num><FONT size=3D2>95</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 34pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D45 x:num><FONT size=3D2>104</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 32pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D42 x:num><FONT size=3D2>116</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 33pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D44 x:num><FONT size=3D2>140</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 35pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D46 x:num><FONT size=3D2>149</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; WIDTH: 38pt; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright width=3D51 x:num><FONT size=3D2>158</FONT></TD></TR>
    <TR style=3D"HEIGHT: 12.75pt" height=3D17>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; HEIGHT: 12.75pt; BACKGROUND-COLOR: =
transparent"=20
      align=3Dright height=3D17 x:num><FONT size=3D2>46.9</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT size=3D2>38.8</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT size=3D2>35.3</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT size=3D2>44.7</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT size=3D2>87.9</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT size=3D2>91.4</FONT></TD>
      <TD=20
      style=3D"BORDER-RIGHT: #ece9d8; BORDER-TOP: #ece9d8; BORDER-LEFT: =
#ece9d8; BORDER-BOTTOM: #ece9d8; BACKGROUND-COLOR: transparent"=20
      align=3Dright x:num><FONT =
size=3D2>92.4</FONT></TD></TR></TBODY></TABLE></P>
  <P><FONT size=3D3>Total shares outstanding =3D=3D&nbsp; =
13,910,000&nbsp;=20
  @21.50</FONT></P>
  <P><FONT size=3D3>From Market Guide</FONT></P>
  <P><FONT size=3D3>&nbsp;is this much ownership too much, and what is =
the Max to=20
  look for&nbsp;</FONT></P></BLOCKQUOTE></BODY></HTML>

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