Point72 Hong Kong Ltd acquired a new position in shares of Moody’s Co. (NYSE:MCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,294 shares of the business services provider’s stock, valued at approximately $643,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCO. Krane Funds Advisors LLC purchased a new position in Moody’s during the 2nd quarter worth $25,000. Capital Investment Advisory Services LLC increased its holdings in Moody’s by 203.6% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after purchasing an additional 112 shares during the period. Meeder Asset Management Inc. purchased a new position in Moody’s during the 2nd quarter worth $37,000. Resources Investment Advisors Inc. purchased a new position in Moody’s during the 1st quarter worth $40,000. Finally, Ibex Wealth Advisors purchased a new position in Moody’s during the 2nd quarter worth $41,000. Institutional investors own 90.17% of the company’s stock.
In other news, insider Robert Fauber sold 3,721 shares of Moody’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $212.71, for a total value of $791,493.91. Following the transaction, the insider now directly owns 48,382 shares in the company, valued at approximately $10,291,335.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $198.46, for a total value of $1,488,450.00. Following the completion of the transaction, the chief executive officer now owns 212,794 shares in the company, valued at $42,231,097.24. The disclosure for this sale can be found here. Insiders sold a total of 45,957 shares of company stock worth $9,516,105 over the last quarter. Company insiders own 0.90% of the company’s stock.
Shares of NYSE:MCO traded down $2.49 on Friday, reaching $214.08. The company had a trading volume of 1,308,587 shares, compared to its average volume of 727,791. Moody’s Co. has a 52-week low of $129.26 and a 52-week high of $222.85. The firm’s 50 day simple moving average is $213.89 and its 200-day simple moving average is $195.75. The firm has a market capitalization of $41.01 billion, a PE ratio of 28.97, a PEG ratio of 2.70 and a beta of 1.24. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 10.04.
Moody’s (NYSE:MCO) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.09. Moody’s had a return on equity of 266.42% and a net margin of 27.66%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $2.04 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Moody’s Co. will post 8.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. Moody’s’s dividend payout ratio is presently 27.06%.
Several research firms have commented on MCO. Barclays restated a “buy” rating on shares of Moody’s in a report on Sunday, August 4th. Stifel Nicolaus raised their price objective on Moody’s from $214.00 to $228.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Morgan Stanley raised their price objective on Moody’s from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Tuesday, September 10th. Argus raised their price objective on Moody’s to $240.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, UBS Group raised their price objective on Moody’s from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Moody’s presently has a consensus rating of “Hold” and an average price target of $201.09.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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