Garnet Equity Capital Holdings Inc. cut its holdings in shares of Morgan Stanley (NYSE:MS) by 50.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the financial services provider’s stock after selling 50,000 shares during the period. Morgan Stanley makes up 1.7% of Garnet Equity Capital Holdings Inc.’s holdings, making the stock its 22nd biggest holding. Garnet Equity Capital Holdings Inc.’s holdings in Morgan Stanley were worth $2,329,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in Morgan Stanley in the 1st quarter worth about $109,000. CSat Investment Advisory L.P. bought a new stake in Morgan Stanley in the 2nd quarter worth about $102,000. Rainier Group Investment Advisory LLC bought a new stake in Morgan Stanley in the 1st quarter worth about $119,000. First Mercantile Trust Co. bought a new stake in Morgan Stanley in the 2nd quarter worth about $112,000. Finally, Landaas & Co. WI ADV bought a new stake in Morgan Stanley in the 2nd quarter worth about $119,000. 84.44% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on MS shares. Wolfe Research started coverage on shares of Morgan Stanley in a research report on Tuesday, September 25th. They issued an “outperform” rating for the company. ValuEngine downgraded shares of Morgan Stanley from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Zacks Investment Research upgraded shares of Morgan Stanley from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Tuesday, July 24th. Cfra reiterated a “buy” rating and issued a $65.00 target price on shares of Morgan Stanley in a research note on Thursday, June 21st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $62.00 target price on shares of Morgan Stanley in a research note on Monday, September 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.22.
MS traded down $0.05 during midday trading on Friday, reaching $43.44. The company had a trading volume of 1,655,974 shares, compared to its average volume of 9,510,468. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.67. The stock has a market cap of $81.25 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.83 and a beta of 1.42. Morgan Stanley has a 12-month low of $43.17 and a 12-month high of $59.38.
Morgan Stanley (NYSE:MS) last released its earnings results on Wednesday, July 18th. The financial services provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.19. The firm had revenue of $10.61 billion for the quarter, compared to analysts’ expectations of $10.05 billion. Morgan Stanley had a net margin of 15.84% and a return on equity of 12.04%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Morgan Stanley will post 4.8 earnings per share for the current year.
Morgan Stanley announced that its Board of Directors has approved a share buyback plan on Thursday, June 28th that allows the company to buyback $4.70 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 5.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, major shareholder Stanley Morgan sold 327 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $23,000.00, for a total transaction of $7,521,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Morgan Stanley Company Profile
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. The company operates through three segments: Institutional Securities, Wealth Management, and Investment Management.
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