Morgan Group Holding (MGHL) 10-Q 14 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	333-73996
Entity Registrant Name	Morgan Group Holding Co
Entity Central Index Key	0001162283
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4196940
Entity Address, Address Line One	401 Theodore Fremd Avenue
Entity Address, City or Town	Rye
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10580
City Area Code	914
Local Phone Number	921-5216
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MGHL
Security Exchange Name	NONE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		600,090

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 2,385,307	$ 2,888,897
Receivables from brokers and clearing organizations	255,434	95,746
Receivables from affiliates	25,082	11,715
Deposits with clearing organizations	350,000	350,000
Income taxes receivable (including deferred tax asset of $0 and $0, respectively)	279,485	275,285
Fixed assets, net of accumulated depreciation of $60,375 and $52,169, respectively	14,497	22,703
Other assets	174,184	679,524
Total assets	3,483,989	4,323,870
LIABILITIES AND EQUITY
Compensation payable	223,537	474,717
Payable to affiliates	217	46
Income tax payable	46,849	48,350
Accrued expenses and other liabilities	1,064,577	764,512
Total liabilities	1,335,180	1,287,625
Commitments and contingencies (Note J)
Equity
Common stock, $0.01 par value; 10,000,000 and 100,000,000 shares authorized, respectively, and 600,090 and 600,090 issued and outstanding, respectively	6,001	6,001
Additional paid-in capital	53,886,180	53,886,180
Accumulated deficit	(51,743,372)	(50,855,936)
Total equity	2,148,809	3,036,245
Total liabilities and equity	$ 3,483,989	$ 4,323,870

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ASSETS
Deferred tax asset	$ 0	$ 0
Fixed assets, accumulated depreciation	$ 60,375	$ 52,169
Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	100,000,000
Common stock, shares issued (in shares)	600,090	600,090
Common stock, shares outstanding (in shares)	600,090	600,090

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues
Commissions	$ 389,823	$ 492,191	$ 1,343,225	$ 1,714,235
Principal transactions	188	(20,667)	7,558	(25,822)
Dividends and interest	15,545	3,562	29,758	15,925
Underwriting fees	0	0	0	6,311
Other revenues	7,760	(2,129)	16,803	24,875
Total revenues	413,316	472,957	1,397,344	1,735,524
Expenses
Compensation and related costs	274,908	276,730	895,492	1,591,444
Clearing charges	116,057	206,577	574,067	556,082
General and administrative	190,994	274,262	653,392	992,676
Occupancy and equipment	20,348	62,658	161,829	225,882
Total expenses	602,307	820,227	2,284,780	3,366,084
Loss before income tax benefit	(188,991)	(347,270)	(887,436)	(1,630,560)
Income tax benefit	0	0	0	0
Net loss	$ (188,991)	$ (347,270)	$ (887,436)	$ (1,630,560)
Net loss per share
Basic (in dollars per share)	$ (0.31)	$ (0.58)	$ (1.48)	$ (2.72)
Diluted (in dollars per share)	$ (0.31)	$ (0.58)	$ (1.48)	$ (2.72)
Weighted average shares outstanding:
Basic (in shares)	600,090	600,090	600,090	600,090
Diluted (in shares)	600,090	600,090	600,090	600,090

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2020	$ 6,001	$ 53,886,180	$ (49,284,876)	$ 4,607,305
Balance (in shares) at Dec. 31, 2020	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(562,395)	(562,395)
Balance at Mar. 31, 2021	$ 6,001	53,886,180	(49,847,271)	4,044,910
Balance (in shares) at Mar. 31, 2021	600,090
Balance at Dec. 31, 2020	$ 6,001	53,886,180	(49,284,876)	4,607,305
Balance (in shares) at Dec. 31, 2020	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss				(1,630,560)
Balance at Sep. 30, 2021	$ 6,001	53,886,180	(50,915,436)	2,976,745
Balance (in shares) at Sep. 30, 2021	600,090
Balance at Mar. 31, 2021	$ 6,001	53,886,180	(49,847,271)	4,044,910
Balance (in shares) at Mar. 31, 2021	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(720,895)	(720,895)
Balance at Jun. 30, 2021	$ 6,001	53,886,180	(50,568,166)	3,324,015
Balance (in shares) at Jun. 30, 2021	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(347,270)	(347,270)
Balance at Sep. 30, 2021	$ 6,001	53,886,180	(50,915,436)	2,976,745
Balance (in shares) at Sep. 30, 2021	600,090
Balance at Dec. 31, 2021	$ 6,001	53,886,180	(50,855,936)	$ 3,036,245
Balance (in shares) at Dec. 31, 2021	600,090			600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(347,113)	$ (347,113)
Balance at Mar. 31, 2022	$ 6,001	53,886,180	(51,203,049)	2,689,132
Balance (in shares) at Mar. 31, 2022	600,090
Balance at Dec. 31, 2021	$ 6,001	53,886,180	(50,855,936)	$ 3,036,245
Balance (in shares) at Dec. 31, 2021	600,090			600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss				$ (887,436)
Balance at Sep. 30, 2022	$ 6,001	53,886,180	(51,743,372)	$ 2,148,809
Balance (in shares) at Sep. 30, 2022	600,090			600,090
Balance at Mar. 31, 2022	$ 6,001	53,886,180	(51,203,049)	$ 2,689,132
Balance (in shares) at Mar. 31, 2022	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(351,332)	(351,332)
Balance at Jun. 30, 2022	$ 6,001	53,886,180	(51,554,381)	2,337,800
Balance (in shares) at Jun. 30, 2022	600,090
Increase (Decrease) in Statements of Equity [Roll Forward]
Net loss	$ 0	0	(188,991)	(188,991)
Balance at Sep. 30, 2022	$ 6,001	$ 53,886,180	$ (51,743,372)	$ 2,148,809
Balance (in shares) at Sep. 30, 2022	600,090			600,090

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (188,991)	$ (347,270)	$ (887,436)	$ (1,630,560)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation			8,206	8,431
(Increase)/decrease in assets:
Receivables from brokers and clearing organizations			(159,688)	(13,042)
Receivables from affiliates			(13,367)	(67,487)
Income taxes receivable			(4,200)	0
Other assets			505,340	15,101
Increase/(decrease) in liabilities:
Compensation payable			(251,180)	(196,059)
Payable to affiliates			171	(29,376)
Income taxes payable			(1,501)	0
Accrued expenses and other liabilities			300,065	243,377
Total adjustments			383,846	(39,055)
Net cash used in operating activities			(503,590)	(1,669,615)
Net decrease in cash, cash equivalents, and restricted cash			(503,590)	(1,669,615)
Cash, cash equivalents, and restricted cash at beginning of period			3,238,897	4,946,403
Cash, cash equivalents, and restricted cash at end of period	2,735,307	3,276,788	2,735,307	3,276,788
Reconciliation to cash, cash equivalents, and restricted cash:
Cash and cash equivalents	2,385,307	2,926,788	2,385,307	2,926,788
Restricted cash: deposits with clearing organizations	350,000	350,000	350,000	350,000
Cash, cash equivalents, and restricted cash	$ 2,735,307	$ 3,276,788	$ 2,735,307	$ 3,276,788

Organization and Business Descr

Organization and Business Description	9 Months Ended
	Sep. 30, 2022
Organization and Business Description [Abstract]
Organization and Business Description	Organization and Business Description Morgan Group Holding Co. (the “Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies. The Company acquired G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000 shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings, LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at their carrying amounts at the date of the transaction. On March 16, 2020, AC’s Board of Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned. On May 5, 2020, the Morgan Group board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in a ratio of 1-for-100 that was effective on September 10, 2020. G.research is a broker-dealer registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”). The Company generates brokerage commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company also earns investment income generated from its proprietary trading activities. The Company acts as an introducing broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed. The Company’s principal market is in the United States (“U.S”).

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Significant Accounting Policies [Abstract]
Significant Accounting Policies	1. Significant Accounting Policies Basis of Presentation The unaudited interim condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily indicative of a full year’s results. The interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021. Use of Estimates The Company’s financial statements are prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that reporting period. Actual results could differ from those estimates.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2022
Revenue from Contracts with Customers [Abstract]
Revenue from Contracts with Customers	2. Revenue from Contracts with Customers The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers Significant judgments that affect the amounts and timing of revenue recognition: The Company’s analysis of the timing of revenue recognition of each revenue stream is based on the provisions of each respective contract. Performance obligations could, however, change from time to time if and when existing contracts are modified or new contracts are entered into. These changes could potentially affect the timing of satisfaction of performance obligations, the determination of the transaction price, and the allocation of the price to performance obligations. In the case of the revenue streams discussed below, the performance obligation is satisfied either at a point in time or over time. The judgments outlined below, where the determination as to these factors is discussed in detail, are continually reviewed and monitored by the Company when new contracts or contract modifications occur. Transaction price is in all instances formulaic and not subject to significant (or any) judgment at the current time. The Company’s assessment of the recognition of these revenues is as follows: Revenue from contracts with customers includes commissions, fees earned from affiliated entities pursuant to research services agreements, underwriting fees, and sales manager fees. Commissions Brokerage commissions Hard dollar payments Commission revenues are impacted by the perceived value of the research product provided to clients, the volume of securities transactions, and the acquisition or loss of new client relationships. Fees earned from affiliated entities pursuant to research services agreements The Company receives direct payments for research services provided to related parties pursuant to contracts. The contractual fee for the period is fixed and recognized ratably over the contract period, typically a calendar year, which is considered the period over which the Company satisfies its performance obligation. Payments for contracts with affiliated parties are collected monthly. Underwriting fees Underwriting fees . The Company acts as underwriter in an agent capacity. Revenues are earned from fees arising from these offerings and the terms are set forth in contracts between the underwriters and the issuer. The Company’s underwriting revenue is considered to be conditional revenue because it is subject to reduction to zero once the offsetting syndicate expenses have been quantified by the syndicate manager (i.e., lead underwriter) and allocated to each underwriter in proportion to their participation in the offering. Revenue recognition is therefore delayed until it is probable that a significant reversal in the amount of revenue recognized will not occur. That is, it is recognized only when uncertainty associated with the syndicate expenses is subsequently resolved and final settlement of syndicate accounts is affected by the syndicate manager. Payment is typically received from the syndicate manager within ninety days after settlement date. Selling concessions . The Company participates as a member of the selling group of underwritten equity offerings and receives compensation based on the difference between what its customers pay for the securities sold to its institutional clients and what the issuer receives. The terms of the selling concessions are set forth in contracts between the Company and the underwriter. Revenue is recognized on the trade date (the date on which the Company purchases the securities from the issuer) for the portion the Company is contracted to buy. The Company believes that the trade date is the appropriate point in time to recognize revenue for securities underwriting transactions as there are no significant actions the Company needs to take subsequent to this date, and the issuer obtains the control and benefit of the capital markets offering at this point. Selling concessions earned are typically collected from the clearing brokers utilized by the Company on a daily or weekly basis. Sales manager fees The Company participates as sales manager of at-the-market offerings of certain affiliated closed-end funds and receives a tiered percentage of proceeds as stipulated in agreements between the Company, the funds and the funds’ investment adviser. The Company recognizes sales manager fees upon sale of the related closed-end funds. Sales manager fees earned are fixed and typically collected from the clearing brokers utilized by the Company on a daily or weekly basis. Revenue Disaggregated Total revenues from contracts with customers by type were as follows for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Commissions $ 369,171 $ 441,174 $ 1,249,687 $ 1,525,320 Hard dollar payments 20,652 51,017 93,538 188,915 389,823 492,191 1,343,225 1,714,235 Underwriting fees - - - 6,311 $ 389,823 $ 492,191 $ 1,343,225 $ 1,720,546

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	3. Related Party Transactions At September 30, 2022 and December 31, 2021, the Company had an investment of $2,353,628 and $2,859,939, respectively, in The Gabelli U.S. Treasury Money Market Fund advised by Gabelli Funds, LLC, which is an affiliate of the Company. The amount is recorded in cash and cash equivalents in the Condensed Consolidated Statements of Financial Condition. Income earned from this investment totaled $10,668 and $82 for the three months ended September 30, 2022 and 2021, respectively, and $14,089 and $207 for the nine months ended September 30, 2022 and 2021, respectively, and is included in dividends and interest in the Condensed Consolidated Statements of Operations. For the three months ended September 30, 2022 and 2021, the Company earned $248,012 and $278,147 or approximately 64% and 57%, respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds, LLC. (“Gabelli Funds”) and private wealth management clients advised by GAMCO Asset Management Inc., (“GAMCO Asset”), each affiliates of the Company. For the nine months ended September 30, 2022 and 2021, the Company earned $785,432 and $943,128 or approximately 58% and 55%, respectively, of its commission revenue from transactions executed on behalf of funds advised by Gabelli Funds and private wealth management clients advised by GAMCO Asset. AC has a sublease agreement with GBL that expired on April 1, 2020 and continues on a month to month basis. AC allocates this expense to the Company based on the percentage of square footage occupied by the Company’s employees (including pro rata allocation of common space). For the three months ended September 30, 2022 and 2021, the Company paid $13,740 and $4,988, respectively, under the sublease agreement.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2022
Fair Value [Abstract]
Fair Value	4. Fair Value The carrying amounts of all financial instruments in the Condensed Consolidated Statements of Financial Condition approximate their fair values. The Company’s financial instruments have been categorized based upon a fair value hierarchy: - Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 1 assets include cash equivalents. - Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. - Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. These assets include infrequently traded common stocks. The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets Measured at Fair Value on a Recurring Basis as of September 30, 2022: Quoted Prices in Active Significant Other Significant Markets for Identical Observable Unobservable Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Cash equivalents $ 2,353,628 $ - $ - $ 2,353,628 Total assets at fair value $ 2,353,628 $ - $ - $ 2,353,628 There were no transfers between any levels during the nine months ended September 30, 2022. Assets Measured at Fair Value on a Recurring Basis as of December 31, 2021: Quoted Prices in Active Significant Other Significant Markets for Identical Observable Unobservable Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Cash equivalents $ 2,859,939 $ - $ - $ 2,859,939 Total assets at fair value $ 2,859,939 $ - $ - $ 2,859,939 There were no transfers between any levels during the year ended December 31, 2021. Cash equivalents primarily consist of an affiliated money market mutual fund which is invested solely in U.S. Treasuries and valued based on the net asset value of the fund. Financial assets disclosed but not carried at fair value The carrying value of other financial assets and liabilities approximates their fair value based on the short term nature of these items.

Retirement Plan

Retirement Plan	9 Months Ended
	Sep. 30, 2022
Retirement Plan [Abstract]
Retirement Plan	5. Retirement Plan The Company participates in Associated Capital’s incentive savings plan (the “Plan”), covering substantially all employees. Company contributions to the Plan are determined annually by management of the Company and AC’s Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. Amounts expensed for allocated contributions to this Plan amounted to approximately $0 as contributions to the plan are expected to be immaterial for the nine months ended September 30, 2022. Contributions for the nine months ended September 30, 2021 resulted in a credit of ($10,667) as reductions in headcount. Contributions and adjustments thereto were recorded as compensation and related costs in the Statement of Operations.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Taxes [Abstract]
Income Taxes	6. Income Taxes The effective tax rate (“ETR”) for the three months ended September 30, 2022 and 2021 was 0.0% and 0.0%, respectively, and the ETR for the nine months ended September 30, 2022 and 2021 was 0.0% and 0.0%, respectively. The ETR differs from the U.S. corporate rate of 21% for all periods due to state taxes and a valuation allowance recorded on the deferred tax assets, mainly net operating loss carryforwards.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2022
Earnings per Share [Abstract]
Earnings per Share	7. Earnings per Share Basic earnings per share is computed by dividing net income / (loss) attributable to shareholders by the weighted average number of shares outstanding during the period. There were no dilutive shares outstanding during the periods. The computations of basic and diluted net loss per share are as follows: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Basic and diluted: Net loss attributable to shareholders $ (188,991) ) $ (347,270) ) $ (887,436) ) $ (1,630,560) ) Weighted average shares outstanding 600,090 600,090 600,090 600,090 Basic and diluted net loss per share $ (0.31) ) $ (0.58) ) $ (1.48) ) $ (2.72) )

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	8. Equity In conjunction with the Merger on October 31, 2019, the Company issued 50,000,000 shares of common stock to AC. The common stock, additional paid in capital, earnings per share, and accumulated deficit amounts in these consolidated financial statements for the period prior to the Merger have been restated to reflect the recapitalization in accordance with the shares issued as a result of the Merger. See the Organization and Business Description Note above for detail.

Guarantees, Contingencies, and

Guarantees, Contingencies, and Commitments	9 Months Ended
	Sep. 30, 2022
Guarantees, Contingencies, and Commitments [Abstract]
Guarantees, Contingencies, and Commitments	9. Guarantees, Contingencies, and Commitments The Company has agreed to indemnify its clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by the Company. At September 30, 2022 and December 31, 2021, the total amount of customer balances subject to indemnification (i.e., unsecured margin debits) was immaterial. The Company also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims, and liabilities arising from the performance of the Company’s obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and therefore, an accrual has not been made in the consolidated financial statements. From time to time, the Company is named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions, or other relief. The Company cannot predict the ultimate outcome of such matters. The consolidated financial statements include the necessary provisions for losses that the Company believes are probable and estimable, if any. Furthermore, the Company evaluates whether losses exist which may be reasonably possible and, if material, makes the necessary disclosures. Such amounts, both those that are probable and those that are reasonably possible, are not considered material to the Company’s financial condition, operations, or cash flows.

Net Capital Requirements

Net Capital Requirements	9 Months Ended
	Sep. 30, 2022
Net Capital Requirements [Abstract]
Net Capital Requirements	10. Net Capital Requirements As a registered broker-dealer, G.research is subject to the SEC Uniform Net Capital Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research is exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are treated as allowable assets for net capital purposes as we have in place PAIB agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made, or cash dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $1,687,773 and $1,874,428 exceeding the required amount of $250,000 by $1,437,773 and $1,624,428 as of September 30, 2022 and December 31, 2021, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events The Company has evaluated subsequent events for adjustment to or disclosure as of November 14, 2022, the date of this report and the Company has not identified any subsequent events not otherwise reported in these financial statements or the notes thereto, that required recognition or additional disclosures in the financial statements.

Organization and Business Des_2

Organization and Business Description (Policies)	9 Months Ended
	Sep. 30, 2022
Organization and Business Description [Abstract]
Organization and Business Description	Morgan Group Holding Co. (the “Company,” “Morgan Group,” or “Morgan”) was incorporated in November 2001 as a Delaware corporation to serve as a holding company which seeks acquisitions as part of its strategic alternatives. Prior to the October 31, 2019 merger with G.research, LLC (“G.research”), discussed below, Morgan Group had no operating companies. The Company acquired G.research from Associated Capital Group, Inc. (“AC”), an affiliate of the Company, on October 31, 2019, in exchange for issuing 500,000 shares of the Company’s common stock to AC (the “Merger”). Accordingly, G.research became a wholly owned subsidiary of the Company. Prior to the transaction, G.research was a wholly-owned subsidiary of Institutional Services holdings, LLC, which, in turn, was a wholly-owned subsidiary of AC. After the transaction, AC had an 83.3% ownership interest in the Company. As a result of this common ownership, the transaction was treated as a combination between entities under common control that led to a change in the reporting entity. The recognized assets and liabilities were transferred at their carrying amounts at the date of the transaction. On March 16, 2020, AC’s Board of Directors approved the spin-off of the Company to AC’s shareholders. Upon execution of the spin-off on August 5, 2020, AC distributed to its shareholders on a pro rata basis the 500,000 shares of Morgan that AC owned. On May 5, 2020, the Morgan Group board approved a reverse stock split of the issued and outstanding shares of their common stock, par value $0.01 per share, in a ratio of 1-for-100 that was effective on September 10, 2020. G.research is a broker-dealer registered with the Securities and Exchange Commission (the “SEC”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”). The Company generates brokerage commission revenues from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients, and retail customers of affiliated companies. The Company generates revenue from syndicated underwriting activities. It primarily participates in the offerings of certain closed-end funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO Investors, Inc. (“GBL”), an affiliate. The Company also earns investment income generated from its proprietary trading activities. The Company acts as an introducing broker, and all securities transactions for the Company and its customers are cleared through and carried by three New York Stock Exchange (“NYSE”) member firms on a fully disclosed basis. The Company has Proprietary Accounts of Introducing Brokers (“PAIB”) agreements with these firms. Accordingly, open customer transactions are not reflected in the accompanying Condensed Consolidated Statement of Financial Condition. The Company is exposed to credit losses on these open transactions in the event of nonperformance by its customers, pursuant to conditions of its clearing agreements with its clearing brokers. This exposure is mitigated by the clearing brokers’ policy of monitoring the collateral and credit of the counterparties until the transaction is completed. The Company’s principal market is in the United States (“U.S”).

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for the fair presentation of financial position, results of operations, and cash flows of Morgan for the interim periods presented and are not necessarily indicative of a full year’s results. The interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, G.research. Intercompany accounts and transactions have been eliminated. These interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our annual report on Form 10-K for the year ended December 31, 2021.
Use of Estimates	Use of Estimates The Company’s financial statements are prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during that reporting period. Actual results could differ from those estimates.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contracts with Customers [Abstract]
Total Revenues by Type	Total revenues from contracts with customers by type were as follows for the three and nine months ended September 30, 2022 and 2021: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Commissions $ 369,171 $ 441,174 $ 1,249,687 $ 1,525,320 Hard dollar payments 20,652 51,017 93,538 188,915 389,823 492,191 1,343,225 1,714,235 Underwriting fees - - - 6,311 $ 389,823 $ 492,191 $ 1,343,225 $ 1,720,546

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value [Abstract]
Assets Measured at Fair Value on a Recurring Basis	Assets Measured at Fair Value on a Recurring Basis as of September 30, 2022: Quoted Prices in Active Significant Other Significant Markets for Identical Observable Unobservable Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Cash equivalents $ 2,353,628 $ - $ - $ 2,353,628 Total assets at fair value $ 2,353,628 $ - $ - $ 2,353,628 Assets Measured at Fair Value on a Recurring Basis as of December 31, 2021: Quoted Prices in Active Significant Other Significant Markets for Identical Observable Unobservable Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Total Cash equivalents $ 2,859,939 $ - $ - $ 2,859,939 Total assets at fair value $ 2,859,939 $ - $ - $ 2,859,939

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings per Share [Abstract]
Computations of Basic and Diluted Net Loss Per Share	The computations of basic and diluted net loss per share are as follows: Three months ended September 30, Nine months ended September 30, 2022 2021 2022 2021 Basic and diluted: Net loss attributable to shareholders $ (188,991) ) $ (347,270) ) $ (887,436) ) $ (1,630,560) ) Weighted average shares outstanding 600,090 600,090 600,090 600,090 Basic and diluted net loss per share $ (0.31) ) $ (0.58) ) $ (1.48) ) $ (2.72) )

Organization and Business Des_3

Organization and Business Description (Details)				9 Months Ended
	Sep. 10, 2020 $ / shares	Aug. 05, 2020 shares	Oct. 31, 2019 shares	Sep. 30, 2022 Firm $ / shares	Dec. 31, 2021 $ / shares
Organization and Business Description [Abstract]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01			$ 0.01	$ 0.01
Reverse stock split ratio	0.01
Number of NYSE member firms through which all securities transactions are cleared | Firm				3
Associated Capital Group [Member]
Organization and Business Description [Abstract]
Shares distributed to shareholders in spin-off (in shares)		500,000
G.research, LLC [Member] | Associated Capital Group [Member]
Organization and Business Description [Abstract]
Stock acquired (in shares)			500,000
G.research, LLC [Member] | Morgan Group, Inc. [Member] | Associated Capital Group [Member]
Organization and Business Description [Abstract]
Ownership interest			83.30%

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contracts with Customers [Abstract]
Underwriter payment receiving period			90 days
Total Revenues by Type [Abstract]
Revenues	$ 389,823	$ 492,191	$ 1,343,225	$ 1,720,546
Brokerage Commissions [Member]
Total Revenues by Type [Abstract]
Revenues	389,823	492,191	1,343,225	1,714,235
Commissions [Member]
Total Revenues by Type [Abstract]
Revenues	369,171	441,174	1,249,687	1,525,320
Hard Dollar Payments [Member]
Total Revenues by Type [Abstract]
Revenues	20,652	51,017	93,538	188,915
Underwriting Fees [Member]
Total Revenues by Type [Abstract]
Revenues	$ 0	$ 0	$ 0	$ 6,311

Related Party Transactions, Rev

Related Party Transactions, Revenue from Transactions with Related Parties (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transactions [Abstract]
Investment income	$ 15,545	$ 3,562	$ 29,758	$ 15,925
Gabelli Funds, LLC [Member] | Gabelli U.S. Treasury Money Market Fund [Member]
Related Party Transactions [Abstract]
Affiliated investments	2,353,628		2,353,628		$ 2,859,939
Investment income	10,668	82	14,089	207
Affiliated Entities [Member] | Commissions [Member]
Related Party Transactions [Abstract]
Revenue from related party transactions	$ 248,012	$ 278,147	$ 785,432	$ 943,128
Revenue percentage	64%	57%	58%	55%

Related Party Transactions, Tra

Related Party Transactions, Transactions with Associated Capital Group (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Associated Capital Group [Member]
Related Party Transactions [Abstract]
Payment made under sublease agreement	$ 13,740	$ 4,988	$ 42,504	$ 57,231

Fair Value (Details)

Fair Value (Details) - Recurring [Member] - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Assets Measured at Fair Value [Abstract]
Cash equivalents	$ 2,353,628	$ 2,859,939
Total assets at fair value	2,353,628	2,859,939
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets Measured at Fair Value [Abstract]
Cash equivalents	2,353,628	2,859,939
Total assets at fair value	2,353,628	2,859,939
Significant Other Observable Inputs (Level 2) [Member]
Assets Measured at Fair Value [Abstract]
Cash equivalents	0	0
Total assets at fair value	0	0
Significant Unobservable Inputs (Level 3) [Member]
Assets Measured at Fair Value [Abstract]
Cash equivalents	0	0
Total assets at fair value	$ 0	$ 0

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Retirement Plan [Abstract]
Allocated contributions	$ 0	$ (10,667)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Taxes [Abstract]
Effective tax rate	0%	0%	0%	0%
U.S. corporate rate	21%	21%	21%	21%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0			0			0	0
Basic and diluted [Abstract]
Net loss attributable to shareholders	$ (188,991)	$ (351,332)	$ (347,113)	$ (347,270)	$ (720,895)	$ (562,395)	$ (887,436)	$ (1,630,560)
Weighted average shares outstanding, basic (in shares)	600,090			600,090			600,090	600,090
Weighted average shares outstanding, diluted (in shares)	600,090			600,090			600,090	600,090
Basic net loss per share (in dollars per share)	$ (0.31)			$ (0.58)			$ (1.48)	$ (2.72)
Diluted net loss per share (in dollars per share)	$ (0.31)			$ (0.58)			$ (1.48)	$ (2.72)

Equity (Details)

Equity (Details)	Oct. 31, 2019 shares
Associated Capital Group [Member]
Stockholders' Equity [Abstract]
Common stock issued in conjunction with merger (in shares)	50,000,000

Net Capital Requirements (Detai

Net Capital Requirements (Details) - G.research, LLC [Member] - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Net Capital [Abstract]
Net capital	$ 1,687,773	$ 1,874,428
Excess net capital than required amount	$ 1,437,773	$ 1,624,428