Advisory Services Network LLC cut its stake in shares of Moody’s Corp. (NYSE:MCO) by 14.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,358 shares of the company’s stock after selling 223 shares during the period. Advisory Services Network LLC’s holdings in Moody’s Corp. were worth $127,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of MCO. NN Investment Partners Holdings N.V. bought a new stake in Moody’s Corp. during the first quarter valued at $103,000. FNY Managed Accounts LLC bought a new stake in Moody’s Corp. during the second quarter valued at $190,000. BlueMountain Capital Management LLC bought a new stake in Moody’s Corp. during the first quarter valued at $210,000. CIBC World Markets Inc. bought a new stake in Moody’s Corp. during the second quarter valued at $220,000. Finally, Fisher Asset Management LLC increased its stake in Moody’s Corp. by 4.6% in the second quarter. Fisher Asset Management LLC now owns 2,260 shares of the company’s stock valued at $221,000 after buying an additional 100 shares during the period. 86.91% of the stock is owned by hedge funds and other institutional investors.
Moody’s Corp. (NYSE:MCO) traded down 1.44% on Tuesday, reaching $107.58. 631,646 shares of the company’s stock were exchanged. Moody’s Corp. has a 52-week low of $77.76 and a 52-week high of $110.83. The firm’s 50 day moving average price is $108.26 and its 200 day moving average price is $101.06. The company has a market cap of $20.68 billion, a PE ratio of 24.02 and a beta of 1.35.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The company earned $928.90 million during the quarter, compared to analyst estimates of $909.08 million. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. Moody’s Corp.’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. On average, analysts expect that Moody’s Corp. will post $4.63 earnings per share for the current year.
Several equities research analysts have recently commented on MCO shares. Argus boosted their target price on shares of Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Morgan Stanley set a $112.00 target price on shares of Moody’s Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised shares of Moody’s Corp. from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Wednesday, October 5th. Cantor Fitzgerald restated a “hold” rating and set a $96.00 price target on shares of Moody’s Corp. in a report on Friday, July 22nd. Finally, BMO Capital Markets restated a “market perform” rating and set a $112.00 price target (up from $104.00) on shares of Moody’s Corp. in a report on Friday, September 30th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $109.29.
In other Moody’s Corp. news, VP Linda Huber sold 44,500 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $105.00, for a total transaction of $4,672,500.00. Following the completion of the sale, the vice president now directly owns 101,059 shares in the company, valued at approximately $10,611,195. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Blair Worrall sold 11,054 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $103.39, for a total transaction of $1,142,873.06. Following the sale, the senior vice president now owns 13,062 shares of the company’s stock, valued at $1,350,480.18. The disclosure for this sale can be found here. 1.48% of the stock is currently owned by corporate insiders.
About Moody’s Corp.
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to financial institution customers.
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