Geron Corporation (NASDAQ:GERN) Is Largely Controlled by Institutional Shareholders Who Own 70% of the Company
Geron Corporation (NASDAQ:GERN) Is Largely Controlled by Institutional Shareholders Who Own 70% of the Company
Key Insights
主要見解
- Given the large stake in the stock by institutions, Geron's stock price might be vulnerable to their trading decisions
- The top 13 shareholders own 52% of the company
- Ownership research along with analyst forecasts data help provide a good understanding of opportunities in a stock
- 鑑於機構在該股票中持有大量股權,傑龍的股價可能會受到他們交易決策的影響
- 前13大股東擁有該公司的52%股份。
- 所有權研究和分析師預測數據有助於更好地了解股票市場的機會。
To get a sense of who is truly in control of Geron Corporation (NASDAQ:GERN), it is important to understand the ownership structure of the business. With 70% stake, institutions possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk).
要了解誰真正控制着傑龍公司(納斯達克: 傑龍),重要的是了解該業務的所有權結構。擁有70%股權的機構在該公司中擁有最大股份。換句話說,該團體面臨着最大的上行潛力(或下行風險)。
Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait.
由於他們擁有的巨額資金和研究能力,機構所有權往往具有很大的影響力,特別是對於個人投資者來說。因此,擁有大量機構資金投資於公司往往被認爲是一種令人嚮往的品質。
In the chart below, we zoom in on the different ownership groups of Geron.
在下面的圖表中,我們放大查看了傑龍的不同所有權群體。
What Does The Institutional Ownership Tell Us About Geron?
機構持股告訴我們有關傑龍的什麼?
Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing.
機構通常在向自己的投資者報告時會針對一個基準進行衡量,因此一旦某隻股票被納入主要指數,他們通常會更加熱衷於該股票。我們預計大多數公司都會有一些機構在登記簿上,尤其是那些正在增長的公司。
As you can see, institutional investors have a fair amount of stake in Geron. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Geron's historic earnings and revenue below, but keep in mind there's always more to the story.
正如您所見,機構投資者在傑龍擁有相當大的股份。這意味着爲這些機構工作的分析師已經看過這支股票並且喜歡它。但就像其他人一樣,他們也可能錯了。當多家機構擁有一隻股票時,總是存在它們會進行『擁擠交易』的風險。當這種交易出錯時,多方可能競相快速拋售股票。在沒有增長曆史的公司中,這種風險更高。您可以在下面看到傑龍的歷史收益和營業收入,但請記住故事總是更加複雜的。
Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Geron is not owned by hedge funds. Our data shows that BlackRock, Inc. is the largest shareholder with 7.7% of shares outstanding. Meanwhile, the second and third largest shareholders, hold 7.7% and 5.3%, of the shares outstanding, respectively.
公司的50%以上股份屬於機構投資者,因此他們可能會強烈影響董事會的決定。傑龍不屬於對沖基金所有。我們的數據顯示,BlackRock,Inc.是最大的股東,持有7.7%的流通股。與此同時,第二和第三大股東分別持有7.7%和5.3%的流通股。
After doing some more digging, we found that the top 13 have the combined ownership of 52% in the company, suggesting that no single shareholder has significant control over the company.
經過進一步調查後,我們發現前13名股東在該公司擁有的股份總計爲52%,這表明沒有任何單一股東對該公司擁有重要控制權。
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
雖然仔細研究公司的機構持股數據是有意義的,但研究分析師對該股票的看法也是有意義的。有相當數量的分析師在跟蹤該股票,因此了解他們對於未來發展的總體看法可能會有所幫助。
Insider Ownership Of Geron
傑龍的內部持股情況
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO.
公司內部人員的定義可能是主觀的,並在不同的司法管轄區之間有所不同。我們的數據反映了個人內部人員,至少包括董事會成員。管理層最終向董事會負責。然而,經理們成爲執行董事會成員並不罕見,尤其是如果他們是創始人或首席執行官。
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
當內部人持股情況表明領導層思考和公司真正所有者一樣時,內部所有權是積極的。然而,高達內部人士所有權也可能爲公司內的小團體帶來巨大的權力。在某些情況下,這可能是負面的。
Our data suggests that insiders own under 1% of Geron Corporation in their own names. Keep in mind that it's a big company, and the insiders own US$2.9m worth of shares. The absolute value might be more important than the proportional share. Arguably, recent buying and selling is just as important to consider. You can click here to see if insiders have been buying or selling.
我們的數據顯示,內部人士以自己的名義擁有傑龍公司不到1%的股份。請記住,這是一家大公司,內部人士擁有價值290萬美元的股票。絕對價值可能比比例份額更重要。可以說,最近的買賣比例同樣重要。您可以單擊此處查看內部人員是否一直在買入或賣出。
General Public Ownership
一般大衆所有權
With a 22% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Geron. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
作爲總體持有22%股份,大多數是個人投資者的普通公衆對傑龍公司有一定的影響力。儘管這種持股規模可能不足以左右政策決定,但他們仍然可以對公司政策產生集體影響。
Private Equity Ownership
股權投資公司持有8.8%的股份,有能力參與塑造以價值創造爲重點的公司策略。一些投資者可能會因此而受到鼓舞,因爲股權投資公司有時可以鼓勵市場看到公司的價值,從而採取有益的策略。另外,那些持有者可能在將其上市後退出投資。
With a stake of 7.7%, private equity firms could influence the Geron board. Some might like this, because private equity are sometimes activists who hold management accountable. But other times, private equity is selling out, having taking the company public.
持有7.7%股權的股權投資公司可能會影響傑龍的董事會。有些人可能會喜歡這一點,因爲股權投資公司有時是激進分子,會追究管理層的責任。但另一些時候,股權投資公司卻選擇賣出股份,讓公司上市。
Next Steps:
下一步:
I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 2 warning signs we've spotted with Geron .
我發現了查看公司確切所有者的信息非常有趣。但要真正獲得洞察力,我們還需要考慮其他信息。爲此,您應該注意我們在傑龍發現的2個警告信號。
If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
如果您像我一樣,可能希望考慮這家公司是否會增長或縮小。幸運的是,您可以查看此免費報告,顯示分析師對其未來的預測。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注:本文中的數據是使用最後一個財務報表日期結束的爲期12個月的數據計算的。這可能與全年年度報告數據不一致。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
譯文內容由第三人軟體翻譯。