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Empreendimentos Pague Menos S.A. (BVMF:PGMN3) adds R$317m in market cap and insiders have a 66% stake in that gain

Simply Wall St · 01/06 09:04

Key Insights

  • Empreendimentos Pague Menos' significant insider ownership suggests inherent interests in company's expansion
  • The top 4 shareholders own 52% of the company
  • Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company

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If you want to know who really controls Empreendimentos Pague Menos S.A. (BVMF:PGMN3), then you'll have to look at the makeup of its share registry. The group holding the most number of shares in the company, around 66% to be precise, is individual insiders. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn).

As a result, insiders were the biggest beneficiaries of last week’s 7.9% gain.

Let's take a closer look to see what the different types of shareholders can tell us about Empreendimentos Pague Menos.

See our latest analysis for Empreendimentos Pague Menos

ownership-breakdown
BOVESPA:PGMN3 Ownership Breakdown January 6th 2026

What Does The Institutional Ownership Tell Us About Empreendimentos Pague Menos?

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.

Institutions have a very small stake in Empreendimentos Pague Menos. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. If the company is growing earnings, that may indicate that it is just beginning to catch the attention of these deep-pocketed investors. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees.

earnings-and-revenue-growth
BOVESPA:PGMN3 Earnings and Revenue Growth January 6th 2026

Hedge funds don't have many shares in Empreendimentos Pague Menos. Our data shows that Francisco Deusmar Queirós is the largest shareholder with 28% of shares outstanding. General Atlantic Service Company, L.P. is the second largest shareholder owning 9.8% of common stock, and Patriciana De Queirós Rodrigues holds about 7.1% of the company stock.

To make our study more interesting, we found that the top 4 shareholders control more than half of the company which implies that this group has considerable sway over the company's decision-making.

Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too.

Insider Ownership Of Empreendimentos Pague Menos

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

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.

Our information suggests that insiders own more than half of Empreendimentos Pague Menos S.A.. This gives them effective control of the company. So they have a R$2.8b stake in this R$4.3b business. Most would argue this is a positive, showing strong alignment with shareholders. You can click here to see if those insiders have been buying or selling.

General Public Ownership

With a 13% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Empreendimentos Pague Menos. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Private Equity Ownership

Private equity firms hold a 9.8% stake in Empreendimentos Pague Menos. This suggests they can be influential in key policy decisions. Sometimes we see private equity stick around for the long term, but generally speaking they have a shorter investment horizon and -- as the name suggests -- don't invest in public companies much. After some time they may look to sell and redeploy capital elsewhere.

Private Company Ownership

It seems that Private Companies own 9.8%, of the Empreendimentos Pague Menos stock. 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:

It's always worth thinking about the different groups who own shares in a company. But to understand Empreendimentos Pague Menos better, we need to consider many other factors. Be aware that Empreendimentos Pague Menos is showing 4 warning signs in our investment analysis , and 2 of those can't be ignored...

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.