First Manhattan Co. Has $370,000 Position in MSCI Inc (NYSE:MSCI)
First Manhattan Co. held its stake in shares of MSCI Inc (NYSE:MSCI) during the second quarter, Holdings Channel reports. The institutional investor owned 3,600 shares of the technology company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in MSCI were worth $370,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of MSCI by 6.8% in the first quarter. Van ECK Associates Corp now owns 1,494 shares of the technology company’s stock valued at $145,000 after buying an additional 95 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of MSCI by 115.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,505 shares of the technology company’s stock valued at $146,000 after buying an additional 805 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of MSCI by 2.9% in the first quarter. Pacer Advisors Inc. now owns 1,639 shares of the technology company’s stock valued at $159,000 after buying an additional 46 shares during the last quarter. Copper Rock Capital Partners LLC boosted its stake in shares of MSCI by 309.1% in the second quarter. Copper Rock Capital Partners LLC now owns 2,078 shares of the technology company’s stock valued at $164,000 after buying an additional 1,570 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of MSCI during the first quarter valued at $203,000. 95.18% of the stock is currently owned by institutional investors.
Shares of MSCI Inc (NYSE:MSCI) opened at 109.68 on Thursday. MSCI Inc has a 1-year low of $76.52 and a 1-year high of $113.38. The stock has a 50 day moving average price of $106.74 and a 200-day moving average price of $99.32. The stock has a market capitalization of $9.92 billion, a PE ratio of 37.81 and a beta of 1.04.
MSCI (NYSE:MSCI) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. MSCI had a return on equity of 87.11% and a net margin of 24.01%. The firm had revenue of $316.08 million for the quarter, compared to the consensus estimate of $314.03 million. During the same period in the previous year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts forecast that MSCI Inc will post $3.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.39%. This is an increase from MSCI’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 16th. MSCI’s payout ratio is 36.13%.
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Several brokerages recently weighed in on MSCI. UBS AG reaffirmed a “buy” rating and issued a $114.00 price target (up from $99.00) on shares of MSCI in a research note on Friday, May 5th. Morgan Stanley upped their price target on MSCI from $97.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday. BidaskClub raised MSCI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Zacks Investment Research raised MSCI from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Thursday, July 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $100.00 price target on shares of MSCI in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. MSCI presently has a consensus rating of “Buy” and an average price target of $106.29.
In related news, COO Cd Baer Pettit sold 2,083 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $103.44, for a total transaction of $215,465.52. Following the transaction, the chief operating officer now directly owns 180,349 shares in the company, valued at approximately $18,655,300.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 6,249 shares of company stock worth $663,581. 2.26% of the stock is owned by company insiders.
MSCI Inc offers products and services to support the needs of institutional investors throughout their investment processes. Its segments include Index, Analytics and All Other segment. All Other segment comprises environmental, social and governance (ESG) and Real Estate segments. Its indexes are used in various areas of the investment process, including index-linked product creation and performance benchmarking, as well as portfolio construction and rebalancing, and asset allocation.
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