Kornitzer Capital Management Inc. KS cut its position in Moody’s Co. (NYSE:MCO) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,279 shares of the business services provider’s stock after selling 650 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Moody’s were worth $4,154,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of MCO. Krane Funds Advisors LLC bought a new position in Moody’s in the second quarter valued at about $25,000. Venturi Wealth Management LLC bought a new position in Moody’s in the third quarter valued at about $25,000. Capital Investment Advisory Services LLC raised its position in Moody’s by 203.6% in the second quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 112 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Moody’s in the second quarter valued at about $37,000. Finally, Private Capital Group LLC raised its position in Moody’s by 138.9% in the second quarter. Private Capital Group LLC now owns 215 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.
Several equities analysts have commented on MCO shares. Morgan Stanley increased their target price on Moody’s from $176.00 to $181.00 and gave the company an “underweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Argus increased their target price on Moody’s to $240.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Stifel Nicolaus increased their target price on Moody’s from $214.00 to $228.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays reiterated a “buy” rating on shares of Moody’s in a research report on Sunday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Moody’s has a consensus rating of “Hold” and a consensus price target of $208.91.
Shares of MCO traded down $0.14 during mid-day trading on Friday, reaching $218.13. 449,098 shares of the company were exchanged, compared to its average volume of 866,542. Moody’s Co. has a 52 week low of $129.26 and a 52 week high of $223.82. The company has a debt-to-equity ratio of 7.50, a quick ratio of 1.71 and a current ratio of 1.42. The stock has a market capitalization of $40.23 billion, a PE ratio of 29.52, a PEG ratio of 2.61 and a beta of 1.24. The business has a 50 day simple moving average of $212.98 and a two-hundred day simple moving average of $203.72.
Moody’s (NYSE:MCO) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the company earned $1.69 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that Moody’s Co. will post 8.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. Moody’s’s dividend payout ratio (DPR) is 27.06%.
In other Moody’s news, insider Mark Almeida sold 27,236 shares of Moody’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total value of $5,639,486.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Fauber sold 3,721 shares of Moody’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 48,382 shares of the company’s stock, valued at $10,291,335.22. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
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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