Echo Street Capital Management LLC Sells 172,043 Shares of MSCI Inc (MSCI)
Echo Street Capital Management LLC cut its position in shares of MSCI Inc (NYSE:MSCI) by 86.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,873 shares of the company’s stock after selling 172,043 shares during the period. Echo Street Capital Management LLC’s holdings in MSCI were worth $2,256,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MSCI. Fifth Third Bancorp raised its stake in MSCI by 16,566.7% in the second quarter. Fifth Third Bancorp now owns 2,000 shares of the company’s stock worth $154,000 after buying an additional 1,988 shares during the last quarter. Copper Rock Capital Partners LLC bought a new stake in MSCI during the third quarter worth about $199,000. CIBC World Markets Inc. bought a new stake in MSCI during the third quarter worth about $222,000. Gideon Capital Advisors Inc. bought a new stake in MSCI during the second quarter worth about $213,000. Finally, Weiss Asset Management LP bought a new stake in MSCI during the third quarter worth about $233,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
MSCI Inc (NYSE:MSCI) traded up 1.19% during mid-day trading on Friday, hitting $82.22. The stock had a trading volume of 312,783 shares. MSCI Inc has a one year low of $62.17 and a one year high of $90.79. The firm’s 50-day moving average is $80.17 and its 200 day moving average is $82.49. The stock has a market cap of $7.74 billion, a PE ratio of 32.32 and a beta of 0.97.
MSCI (NYSE:MSCI) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.04. The firm had revenue of $288.43 million for the quarter, compared to analyst estimates of $288.96 million. MSCI had a net margin of 22.29% and a return on equity of 43.72%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Equities research analysts expect that MSCI Inc will post $2.97 EPS for the current year.
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A number of research firms recently issued reports on MSCI. Zacks Investment Research raised MSCI from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Wednesday, November 23rd. Credit Suisse Group reissued an “outperform” rating and set a $94.00 price target on shares of MSCI in a research note on Wednesday, December 7th. Finally, Evercore ISI reissued a “sell” rating on shares of MSCI in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $82.17.
In other MSCI news, Director Patrick Tierney sold 3,500 shares of MSCI stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $80.39, for a total value of $281,365.00. Following the transaction, the director now owns 13,242 shares in the company, valued at $1,064,524.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Cd Baer Pettit sold 2,083 shares of MSCI stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $83.12, for a total transaction of $173,138.96. Following the completion of the transaction, the chief operating officer now owns 194,256 shares in the company, valued at approximately $16,146,558.72. The disclosure for this sale can be found here. 2.07% of the stock is currently owned by company insiders.
MSCI Company Profile
MSCI Inc (MSCI), together with its subsidiaries, offers content, applications and services to support the needs of institutional investors throughout their investment processes. The Company’s operating segment includes Index, Analytics and All Other segment. All Other segment comprises ESG and Real Estate segments.
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