Quadrature Capital Ltd acquired a new position in shares of Moody’s Co. (NYSE:MCO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,700 shares of the business services provider’s stock, valued at approximately $1,292,000.
Other hedge funds have also made changes to their positions in the company. Fred Alger Management LLC purchased a new stake in Moody’s during the first quarter worth $26,000. Jacobi Capital Management LLC boosted its position in Moody’s by 941.7% during the second quarter. Jacobi Capital Management LLC now owns 1,000 shares of the business services provider’s stock worth $26,000 after purchasing an additional 904 shares in the last quarter. CX Institutional boosted its position in Moody’s by 144.0% during the second quarter. CX Institutional now owns 122 shares of the business services provider’s stock worth $34,000 after purchasing an additional 72 shares in the last quarter. MBE Wealth Management LLC purchased a new stake in Moody’s during the first quarter worth $44,000. Finally, EPG Wealth Management LLC boosted its position in Moody’s by 132.4% during the first quarter. EPG Wealth Management LLC now owns 244 shares of the business services provider’s stock worth $52,000 after purchasing an additional 139 shares in the last quarter. 89.73% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:MCO traded down $8.78 on Friday, hitting $282.47. 598,373 shares of the stock were exchanged, compared to its average volume of 574,518. The stock has a market cap of $53.02 billion, a PE ratio of 30.94, a PEG ratio of 3.06 and a beta of 1.14. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 5.14. The stock has a fifty day moving average of $286.36 and a 200-day moving average of $259.29. Moody’s Co. has a fifty-two week low of $164.19 and a fifty-two week high of $305.95.
Moody’s (NYSE:MCO) last announced its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.55. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.23 billion. Moody’s had a return on equity of 207.04% and a net margin of 33.38%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 earnings per share. As a group, analysts predict that Moody’s Co. will post 9.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.56 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.24 annualized dividend and a yield of 0.79%. Moody’s’s dividend payout ratio is presently 27.02%.
In other news, EVP John J. Goggins sold 11,700 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $274.14, for a total value of $3,207,438.00. Also, insider Stephen T. Tulenko sold 1,500 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total value of $439,515.00. Following the completion of the sale, the insider now owns 8,044 shares of the company’s stock, valued at approximately $2,356,972.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,200 shares of company stock valued at $7,033,353. Insiders own 0.79% of the company’s stock.
Several brokerages have recently issued reports on MCO. Zacks Investment Research upgraded Moody’s from a “hold” rating to a “buy” rating and set a $298.00 price objective on the stock in a research report on Tuesday, July 7th. Credit Suisse Group restated a “buy” rating and issued a $330.00 price objective on shares of Moody’s in a research report on Tuesday, July 28th. Oppenheimer began coverage on Moody’s in a research report on Monday, May 18th. They issued an “outperform” rating and a $290.00 price objective on the stock. Goldman Sachs Group upped their price objective on Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Finally, UBS Group upped their price objective on Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Moody’s currently has an average rating of “Buy” and an average price target of $290.75.
Moody’s Company Profile
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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