Stock Analysis

Do Institutions Own Public Joint-Stock Company Moscow Exchange MICEX-RTS (MCX:MOEX) Shares?

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MISX:MOEX
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If you want to know who really controls Public Joint-Stock Company Moscow Exchange MICEX-RTS (MCX:MOEX), then you'll have to look at the makeup of its share registry. Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. Companies that have been privatized tend to have low insider ownership.

With a market capitalization of ₽374b, Moscow Exchange MICEX-RTS is rather large. We'd expect to see institutional investors on the register. Companies of this size are usually well known to retail investors, too. In the chart below, we can see that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about Moscow Exchange MICEX-RTS.

Check out our latest analysis for Moscow Exchange MICEX-RTS

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MISX:MOEX Ownership Breakdown February 23rd 2021

What Does The Institutional Ownership Tell Us About Moscow Exchange MICEX-RTS?

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

Moscow Exchange MICEX-RTS already has institutions on the share registry. Indeed, they own a respectable stake in the company. 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. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Moscow Exchange MICEX-RTS, (below). Of course, keep in mind that there are other factors to consider, too.

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MISX:MOEX Earnings and Revenue Growth February 23rd 2021

Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. We note that hedge funds don't have a meaningful investment in Moscow Exchange MICEX-RTS. The company's largest shareholder is Central Bank of the Russian Federation, with ownership of 12%. With 10% and 8.5% of the shares outstanding respectively, Sberbank Asset Management Joint-Stock Company and Vnesheconombank, Asset Management Arm are the second and third largest shareholders.

We also observed that the top 7 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.

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. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Moscow Exchange MICEX-RTS

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. 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.

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

Our most recent data indicates that insiders own less than 1% of Public Joint-Stock Company Moscow Exchange MICEX-RTS. It's a big company, so even a small proportional interest can create alignment between the board and shareholders. In this case insiders own ₽116m worth of shares. 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 holds a 23% stake in Moscow Exchange MICEX-RTS. 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.

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 risks, for instance. Every company has them, and we've spotted 1 warning sign for Moscow Exchange MICEX-RTS you should know about.

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter 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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