Havard law - analyst ownership of stockFrom havard law website https://corpgov.law.harvard.edu/2018/10/10/analysts-stock-ownership-and-stock-recommendations/
Below is only one paragraph from the article. Good article to read if you are interested.
In an average sample year, 13% of analysts own stock in covered firms, and among these ownership analysts, they invest in 18% of all covered firms. Additional data collection reveals that 12% of analysts own stock in covered firms in 2016, indicating that analysts’ stock ownership continues to be prevalent today. Analysts’ stock ownership is associated with more favorable recommendations. 66% of ownership reports contain a favorable (buy) recommendation, compared to 44% for all recommendations from the same broker-periods. Analysts’ stock ownership tends to be long-term. The average ownership string (i.e., a series of consecutive ownership reports) contains 13 reports and spans about 16 months. Fourth, among the 74 brokers in our sample, 60 allowed analysts’ ownership. In contrast, the remaining 14 had virtually no ownership reports and thus likely banned it. Compared with analysts without ownership, analysts owning stock are more experienced, cover more firms and more industries, provide fewer types of forecasts, have higher prior forecast frequency and accuracy, and are more likely to work at brokers that are smaller and have no underwriting relationship with the firm. They tend to invest in firms that are larger, more mature, have higher growth, better financial performance, greater analyst following, and higher institutional ownership.