Learn how Intrinio manages corporate actions such as adjustments, IPOs, and mergers using our Security Master.
Stock Price Adjustments
Stock price adjustments are caused by dividend payouts and splits/reverse splits. When companies pay a dividend, increase the number of their shares on the market (split), or decrease the number of their shares on the market (reverse split), our data quality team adjusts our stock price data. We consult multiple sources to verify these events. All of our metrics and ratios are based on the adjusted stock price.
When a company IPOs, we check for an associated security. If there are multiple tickers for different exchanges, we add them all and choose one to be the primary security. The primary security is typically USCOMP, which is a composite of NYSE and NASDAQ. When you query the API, that primary security is our source of truth for stock prices.
If a company that has recently had its IPO is listed as active, but does not have any fundamentals associated, it’s likely because they haven’t hit the end of their first fiscal quarter and have not yet filed with the SEC. Their stock prices and company metadata are typically still available.
A small number of publicly-traded securities do not have an available CIK code (the unique identifier used by SEC). Without a CIK code, we cannot associate the security with a company or pull 10-K and 10-Q filings from the SEC.
If a company undergoes a merger, we use the security master to connect the full price history. We take the old, delisted security and add that pricing history to the new security. You shouldn’t notice any separation when querying historical data from our system.
If you have questions about our security master, please contact your customer success manager or reach out to us via live chat at intrinio.com.