Pilgrim Partners Asia Pte Ltd Buys Shares of 3,410 Moody’s Corporation $MCO

Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Moody’s Corporation (NYSE:MCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,410 shares of the business services provider’s stock, valued at approximately $1,625,000. Moody’s accounts for 0.7% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 25th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rexford Capital Inc. bought a new stake in Moody’s in the 2nd quarter valued at $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Moody’s in the second quarter valued at about $25,000. Johnson Financial Group Inc. bought a new stake in shares of Moody’s in the second quarter valued at about $28,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Moody’s during the third quarter worth about $31,000. Finally, ORG Partners LLC grew its holdings in shares of Moody’s by 50.0% during the second quarter. ORG Partners LLC now owns 66 shares of the business services provider’s stock worth $33,000 after buying an additional 22 shares in the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.

Moody’s Price Performance

Shares of MCO stock opened at $525.31 on Tuesday. Moody’s Corporation has a twelve month low of $378.71 and a twelve month high of $546.88. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a market cap of $93.72 billion, a P/E ratio of 42.23, a P/E/G ratio of 2.42 and a beta of 1.45. The business has a fifty day simple moving average of $506.30 and a 200 day simple moving average of $499.95.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCO. Mizuho raised their target price on shares of Moody’s from $539.00 to $550.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group upgraded Moody’s from a “neutral” rating to a “buy” rating and raised their price target for the company from $524.00 to $570.00 in a research note on Tuesday, December 16th. Evercore ISI lifted their price objective on shares of Moody’s from $540.00 to $620.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Moody’s in a report on Friday, October 31st. Finally, Wells Fargo & Company boosted their target price on Moody’s from $620.00 to $660.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Moody’s has a consensus rating of “Moderate Buy” and a consensus target price of $560.94.

Insider Buying and Selling at Moody’s

In other Moody’s news, CEO Robert Fauber sold 1,167 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $478.95, for a total transaction of $558,934.65. Following the completion of the transaction, the chief executive officer owned 61,082 shares in the company, valued at approximately $29,255,223.90. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

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.