The shares were sold at an average price of $44.25, for a total value of $442,500.00. The short ratio in the company's stock is documented at 1.20 and the short float is around of 0.98%. The disclosure for this sale can be found here.
Morgan Stanley's bond trading business has been a near-perennial loser in the years following the financial crisis.
Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. By contrast, Morgan Stanley claimed buoyant conditions fueled its outperformance, as did JPMorgan. Following the sale, the president now directly owns 836,809 shares of the company's stock, valued at approximately $36,668,970.38. Salem Investment Counselors Inc. purchased a new position in shares of Morgan Stanley during the third quarter worth about $110,000. Its stock jumped 2% to 91.91 dollars. That continued what's mostly been a strong first quarter for banks and financial companies.
Shares of Morgan Stanley jumped by as much as 2.35% to $42.18 in premarket trades this morning.
The stock subtracted in the prior trading session by -0.67%, closing at the stock price of $41.21. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -2.51%.
Fixed-income trading was not the only battlefield where Morgan Stanley emerged victorious last quarter.
Morgan Stanley (NYSE:MS) last announced its earnings results on Wednesday, April 19th.
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Investment banker Morgan Stanley MS posted a nice, tidy beat on top and bottom lines this morning, posting earnings of an even $1.00 per share on $9.745 billion.
The company's expected revenue in the current quarter to be 9.27 Billion, seeing a projected current quarter growth of 60%, and per annum growth estimates over the next 5 year period of around 13.72%. Elections in Europe and Britain's progress in leaving the European Union also spurred trading.Morgan Stanley hit a key milestone on a profitability metric - return on equity.
Stocks climbed early on as a solid quarter from Morgan Stanley revived optimism about banks, and strong results from auto and industrial parts distributor Genuine Parts sent vehicle makers and suppliers higher. Morgan Stanley China A Share Fund earned a daily sentiment score of 0.21 on AlphaOne's scale.
Investment banking giant Morgan Stanley continued an upbeat earnings season for the big U.S. banks, posting a 74 percent rise in the Q1 2017 profits, buoyed by a solid performance for bond-trading. (NASDAQ:DISCA) is under coverage by number of analysts. Instinet reaffirmed a "buy" rating and set a $49.00 price objective on shares of Morgan Stanley in a report on Monday, January 30th. Macquarie reissued an "outperform" rating on shares of Morgan Stanley in a report on Thursday, February 16th. The consensus price target was last revised on 2017-04-12. The stock had previously closed at $40.11, but opened at $41.21. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and worldwide copyright legislation.
Relative strength index (RSI-14) for Morgan Stanley (MS) is at 36.06. Its segments include Institutional Securities, Wealth Management and Investment Management.
Moreover, the company's institutional securities segment, that encompasses fixed income and equities trading, has posted the revenues of $5.15 billion, which is a 39.2 percent year-over-year increase.