Summitry LLC Buys 1,363 Shares of Moody’s Corporation $MCO

Summitry LLC boosted its stake in shares of Moody’s Corporation (NYSE:MCO) by 1.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 78,134 shares of the business services provider’s stock after buying an additional 1,363 shares during the quarter. Moody’s accounts for 1.6% of Summitry LLC’s portfolio, making the stock its 24th biggest position. Summitry LLC’s holdings in Moody’s were worth $37,229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MCO. Rexford Capital Inc. purchased a new stake in Moody’s during the 2nd quarter valued at $25,000. Newbridge Financial Services Group Inc. purchased a new position in Moody’s during the 2nd quarter valued at about $25,000. Johnson Financial Group Inc. bought a new position in Moody’s during the 2nd quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC purchased a new stake in Moody’s in the 3rd quarter worth approximately $31,000. Finally, Salomon & Ludwin LLC bought a new stake in shares of Moody’s in the 3rd quarter worth approximately $38,000. Institutional investors own 92.11% of the company’s stock.

Insider Buying and Selling at Moody’s

In other Moody’s news, CEO Robert Fauber sold 575 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $498.90, for a total value of $286,867.50. Following the sale, the chief executive officer directly owned 61,082 shares of the company’s stock, valued at approximately $30,473,809.80. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Moody’s Price Performance

Shares of NYSE MCO opened at $426.82 on Monday. The company has a 50 day simple moving average of $501.63 and a two-hundred day simple moving average of $496.28. Moody’s Corporation has a fifty-two week low of $378.71 and a fifty-two week high of $546.88. The company has a market capitalization of $76.14 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 1.97 and a beta of 1.44. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

Wall Street Analyst Weigh In

MCO has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Moody’s in a report on Friday, October 31st. The Goldman Sachs Group decreased their price objective on shares of Moody’s from $603.00 to $532.00 and set a “buy” rating for the company in a report on Monday, February 9th. Wells Fargo & Company lifted their target price on shares of Moody’s from $620.00 to $660.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Morgan Stanley increased their price target on shares of Moody’s from $520.00 to $526.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Stifel Nicolaus set a $574.00 target price on Moody’s and gave the stock a “buy” rating in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $558.56.

About Moody’s

Moody’s Corporation is a global provider of credit ratings, research, data and analytics that support financial decision-making and transparency in capital markets. The company traces its origins to the early 20th century when financial analyst John Moody began publishing credit information; today Moody’s is headquartered in New York and serves a broad set of market participants including investors, issuers, financial institutions, corporations, governments and regulators.

Moody’s operates primarily through two complementary businesses.