When it comes to stock selection, one factor investors may want to consider is insider ownership. High insider ownership generally suggests management’s confidence in the company. It’s a bullish sign that suggests insiders believe the stock price could go up. In this article, we will take a look at 10 asset management companies with over 20% insider ownership.
According to the Securities and Exchange Commission, insiders include any “officer, director, 10% stockholder, and anyone who possesses inside information because of his or her relationship with the company or with an officer, director, or principal stockholder of the company.”
We used the insider ownership data from finviz.com to develop this list of asset management companies with over 20% insider ownership. We ranked the companies based on their market capitalization as of September 28, 2022. Here are 10 asset management companies with over 20% insider ownership:
Equus Total Return
Founded in 1991 and headquartered in Houston, Texas, Equus is a closed-end management investment company that offers financial solutions to privately owned middle-market and small-capitalization companies. Equus Total Return Closed Fund (NYSE:EQS) shares are down almost 28% year to date and have declined almost 31% in the last year.
As of the time of this writing, Equus Total Return shares are trading at $1.70 with a 52-week range of $1.70 to $2.72, giving the firm a market cap of more than $23 million.
Ashford
Founded in 2014 and headquartered in Dallas, Texas, this company offers asset management, advisory services, and other products and services, mainly to the hospitality industry. Ashford Inc (NYSE:AINC) shares are down almost 28% year to date and have declined almost 10% in the last year.
As of the time of this writing, Ashford shares are trading at $12 with a 52-week range of $11.40 to $25.99, giving the company a market cap of more than $37 million.
Investcorp Credit Management BDC
Founded in 2013 and headquartered in New York, Investcorp is a closed-end, externally managed, non-diversified investment management company. It invests primarily in debt and the related equity of privately held middle-market companies. Investcorp Credit Management BDC Inc (NASDAQ:ICMB) shares are down by over 24% year to date and have declined almost 32% in the last year.
As of the time of this writing, Investcorp Credit Management BDC shares are trading at more than $3.80 with a 52-week range of $3.60 to $5.73, giving the firm a market cap of more than $54 million.
Hennessy Advisors
Founded in 1989 and headquartered in Novato, California, Hennessy is an investment management firm that manages, services and markets open-end mutual funds (Hennessy Funds). Hennessy Ad (NASDAQ:HNNA) shares are down by over 19% year to date and have declined more than 12% in the last year.
As of the time of this writing, Hennessy Advisors shares are trading at more than $8.60 with a 52-week range of $8.52 to $11.69, giving the firm a market cap of more than $60 million.
Great Elm Capital
Founded in 2016 and headquartered in Waltham, Massachusetts, Great Elm is an externally managed business development company that primarily invests in the debt instruments of middle-market companies. Great Elm Capital Corp (NASDAQ:GECC) shares are down by over 56% year to date and have declined more than 61% in the last year.
As of the time of this writing, Great Elm Capital shares are trading at more than $8.20 with a 52-week range of $7.98 to $21.30, giving the firm a market cap of more than $65 million.
PhenixFIN
Founded in 2010 and headquartered in New York, PhenixFIN is a business development company that mainly invests in privately negotiated debt and equity securities of small and middle-market companies. Phenixfin Corporation (NASDAQ:PFX) shares are down almost 17% year to date and have declined almost 16% in the last year.
As of the time of this writing, PhenixFIN shares are trading at above $34 with a 52-week range of $32.61 to $43.36, giving the firm a market cap of more than $75 million.
OFS Capital
Founded in 2012 and headquartered in Chicago, Illinois, OFS is an externally managed, closed-end, non-diversified investment management company that aims to provide investors with both current income and capital appreciation. OFS Capital Corp (NASDAQ:OFS) shares are down by over 28% year to date and have fallen over 25% in the last year.
As of the time of this writing, OFS Capital shares are trading at more than $7.80 with a 52-week range of $7.54 to $13.47, giving the firm a market cap of more than $100 million.
Central Securities
Founded in 1929 and headquartered in New York, Central Securities is a closed-end investment company with the primary objective of capital growth. Central Securities Corporation (NYSE:CET) shares are down by almost 25% year to date and have declined more than 17% in the last year.
As of the time of this writing, Central Securities shares are trading at more than $33 with a 52-week range of $33.13 to $44.74, giving the company a market cap of more than $900 million.
Prospect Capital (NASDAQ:PSEC)
Founded in 2004 and headquartered in New York, this company lends to and invests in private businesses. Prospector Capital Corp (NASDAQ:PRSR) shares are down by almost 22% year to date and have fallen almost 16% in the last year.
As of the time of this writing, Prospect Capital shares are trading at more than $6.50 with a 52-week range of $6.50 to $9.06, giving the firm a market capitalization of more than $2.5 billion.
Corebridge Financial
Founded in 1957 and headquartered in Houston, Texas, this company offers retirement solutions and insurance products. Corebridge Financial Inc (NYSE:CRBG)) just went public a couple of weeks ago.
As of the time of this writing, Corebridge Financial shares are trading at more than $20, giving the firm a market cap of more than $12.9 billion.