How can a company have more than 100% institutional ownership?

Question

I was playing around on Yahoo finance's stock screener and noticed that the institutional ownership for some companies is well over 100%. (Indeed there seemed to be one company called Hafmark financial with 484% institutional ownership.) I was curious to know how this was possible. Thanks in advance--Adam J

NC · Accepted Answer

This often happens after splits.  Hallmark Financial (AMEX: HAF) split 1:6 on July 31, 2006:

http://finance.yahoo.com/q/hp?s=HAF

So the number of shares institutions own is current (post-split), while the total number of shares outstanding is not (pre-split) and will be updated when the company puts out the next set of quarterly financial statements.

Anonym · Answer

1

dummyfx · Answer

It's much the same as when Derek Jeter gives 110% to winning the game.

up.tobat · Answer

They own the company, the management, and the union.

Fulltime in my RV (I wish) · Answer

Old accounting wisdom:
If you toture numbers enough, they'll admit to anything.

That's how Enron did it.

Anonym · Answer

its just an expression, you can only truly have 100%

How can a company have more than 100% institutional ownership?

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