Mark Asset Management LP Sells 93,542 Shares of Morgan Stanley (NYSE:MS)

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Mark Asset Management LP trimmed its position in Morgan Stanley (NYSE:MS) by 48.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the financial services provider’s stock after selling 93,542 shares during the period. Mark Asset Management LP’s holdings in Morgan Stanley were worth $4,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MS. Sigma Planning Corp raised its holdings in Morgan Stanley by 14.0% during the second quarter. Sigma Planning Corp now owns 10,691 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 1,312 shares in the last quarter. Nordea Investment Management AB raised its holdings in Morgan Stanley by 203.0% during the second quarter. Nordea Investment Management AB now owns 2,037,850 shares of the financial services provider’s stock worth $96,696,000 after acquiring an additional 1,365,298 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Morgan Stanley by 21.5% during the second quarter. State of Alaska Department of Revenue now owns 299,843 shares of the financial services provider’s stock worth $14,482,000 after acquiring an additional 53,079 shares in the last quarter. Park National Corp OH bought a new stake in Morgan Stanley during the second quarter worth about $234,000. Finally, Core Alternative Capital raised its holdings in Morgan Stanley by 5.4% during the second quarter. Core Alternative Capital now owns 145,075 shares of the financial services provider’s stock worth $7,007,000 after acquiring an additional 7,492 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Several research firms recently issued reports on MS. Credit Suisse Group reiterated a “buy” rating and set a $58.00 target price (up previously from $46.00) on shares of Morgan Stanley in a report on Friday, July 17th. Royal Bank of Canada upped their price objective on Morgan Stanley from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Argus upped their price objective on Morgan Stanley from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 17th. They noted that the move was a valuation call. Berenberg Bank upped their price objective on Morgan Stanley from $36.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Piper Sandler upped their price objective on Morgan Stanley from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $54.32.

In related news, insider Keishi Hotsuki sold 19,000 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $52.00, for a total transaction of $988,000.00. Following the sale, the insider now owns 243,666 shares of the company’s stock, valued at $12,670,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andrew M. Saperstein sold 28,846 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $52.56, for a total value of $1,516,145.76. Following the sale, the insider now directly owns 118,478 shares in the company, valued at approximately $6,227,203.68. The disclosure for this sale can be found here. Insiders have sold 197,846 shares of company stock worth $10,362,646 in the last three months. 0.26% of the stock is currently owned by company insiders.

Shares of Morgan Stanley stock traded down $0.04 on Friday, hitting $52.71. The stock had a trading volume of 9,411,385 shares, compared to its average volume of 7,411,604. Morgan Stanley has a twelve month low of $27.20 and a twelve month high of $57.57. The business’s 50 day moving average is $51.23 and its two-hundred day moving average is $44.66. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.58. The stock has a market cap of $83.11 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.46.

Morgan Stanley (NYSE:MS) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.84. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $10.39 billion. Morgan Stanley had a return on equity of 11.90% and a net margin of 17.78%. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 earnings per share. As a group, equities analysts predict that Morgan Stanley will post 5.18 earnings per share for the current fiscal year.

About Morgan Stanley

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 Institutional Securities, Wealth Management, and Investment Management segments.

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Institutional Ownership by Quarter for Morgan Stanley (NYSE:MS)

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