Kornitzer Capital Management Inc. KS Reduces Stake in MSCI Inc (NYSE:MSCI)
Kornitzer Capital Management Inc. KS decreased its position in shares of MSCI Inc (NYSE:MSCI) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 338,956 shares of the technology company’s stock after selling 11,880 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.37% of MSCI worth $34,909,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised 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. raised 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. raised 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 raised 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 approximately $203,000. 95.18% of the stock is owned by institutional investors and hedge funds.
Shares of MSCI Inc (NYSE MSCI) traded down 0.12% during trading on Friday, reaching $107.13. The company had a trading volume of 529,865 shares. The firm has a market capitalization of $9.65 billion, a PE ratio of 34.69 and a beta of 1.04. MSCI Inc has a 1-year low of $76.52 and a 1-year high of $113.38. The firm has a 50-day moving average of $107.00 and a 200 day moving average of $99.55.
MSCI (NYSE:MSCI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The business had revenue of $316.08 million for 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%. MSCI’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Analysts expect that MSCI Inc will post $3.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Friday, August 18th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from MSCI’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 16th. MSCI’s dividend payout ratio (DPR) is currently 36.13%.
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Several brokerages have recently commented on MSCI. UBS AG reiterated a “buy” rating and issued a $114.00 target price (up from $99.00) on shares of MSCI in a research report on Friday, May 5th. Morgan Stanley boosted their price objective on MSCI from $97.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. 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 objective on the stock in a research note on Thursday, July 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $100.00 price objective 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 given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $106.29.
In related news, COO Cd Baer Pettit sold 2,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $103.44, for a total value of $215,465.52. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 6,249 shares of company stock worth $663,581 over the last quarter. 2.26% of the stock is currently owned by corporate 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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