Castleark Management LLC Buys New Stake in MSCI Inc (MSCI)
Castleark Management LLC bought a new stake in shares of MSCI Inc (NYSE:MSCI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,390 shares of the technology company’s stock, valued at approximately $349,000.
Other large investors have also made changes to their positions in the company. Penserra Capital Management LLC purchased a new position in shares of MSCI during the second quarter valued at approximately $101,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of MSCI by 115.0% during 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 period. Copper Rock Capital Partners LLC boosted its position in shares of MSCI by 309.1% during 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 period. Two Sigma Securities LLC purchased a new position in shares of MSCI during the first quarter valued at approximately $203,000. Finally, Advisor Partners LLC purchased a new position in shares of MSCI during the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 94.45% of the company’s stock.
Several research analysts have issued reports on MSCI shares. Morgan Stanley boosted their target price on MSCI from $97.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. BidaskClub upgraded MSCI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Barclays PLC started coverage on MSCI in a research report on Tuesday, July 18th. They set an “equal weight” rating and a $110.00 target price for the company. UBS AG boosted their target price on MSCI from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded MSCI from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. MSCI currently has an average rating of “Buy” and a consensus target price of $111.50.
In other news, COO Cd Baer Pettit sold 2,083 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $115.16, for a total transaction of $239,878.28. Following the completion of the sale, the chief operating officer now owns 176,183 shares in the company, valued at approximately $20,289,234.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,249 shares of company stock valued at $724,009 in the last 90 days. Insiders own 2.26% of the company’s stock.
MSCI (NYSE:MSCI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. The business had revenue of $316.08 million during the quarter, compared to the consensus estimate of $314.03 million. MSCI had a net margin of 24.01% and a return on equity of 87.11%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS.
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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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