Retail investors are Motor Oil (Hellas) Corinth Refineries S.A.'s (ATH:MOH) biggest owners and were rewarded after market cap rose by €95m last week
Key Insights
- Motor Oil (Hellas) Corinth Refineries' significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger public
- The top 8 shareholders own 51% of the company
- 16% of Motor Oil (Hellas) Corinth Refineries is held by Institutions
To get a sense of who is truly in control of Motor Oil (Hellas) Corinth Refineries S.A. (ATH:MOH), it is important to understand the ownership structure of the business. We can see that retail investors own the lion's share in the company with 42% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
As a result, retail investors were the biggest beneficiaries of last week’s 3.5% gain.
In the chart below, we zoom in on the different ownership groups of Motor Oil (Hellas) Corinth Refineries.
View our latest analysis for Motor Oil (Hellas) Corinth Refineries
What Does The Institutional Ownership Tell Us About Motor Oil (Hellas) Corinth Refineries?
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
We can see that Motor Oil (Hellas) Corinth Refineries does have institutional investors; and they hold a good portion of the company's stock. 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. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Motor Oil (Hellas) Corinth Refineries' earnings history below. Of course, the future is what really matters.
We note that hedge funds don't have a meaningful investment in Motor Oil (Hellas) Corinth Refineries. Petroventure Holdings Ltd is currently the largest shareholder, with 40% of shares outstanding. In comparison, the second and third largest shareholders hold about 2.3% and 2.3% of the stock.
We did some more digging and found that 8 of the top shareholders account for roughly 51% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat.
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 plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.
Insider Ownership Of Motor Oil (Hellas) Corinth Refineries
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. 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.
I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions.
Our information suggests that Motor Oil (Hellas) Corinth Refineries S.A. insiders own under 1% of the company. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around €20m worth of shares (at current prices). It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling.
General Public Ownership
The general public, who are usually individual investors, hold a 42% stake in Motor Oil (Hellas) Corinth Refineries. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run.
Private Company Ownership
We can see that Private Companies own 41%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
Next Steps:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider for instance, the ever-present spectre of investment risk. We've identified 4 warning signs with Motor Oil (Hellas) Corinth Refineries (at least 2 which are concerning) , and understanding them should be part of your investment process.
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.
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.
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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.