Traders Buy Shares of Moody’s Corp. (MCO) on Weakness Following Insider Selling
Investors bought shares of Moody’s Corp. (NYSE:MCO) on weakness during trading on Wednesday after an insider sold shares in the company. $41.73 million flowed into the stock on the tick-up and $20.41 million flowed out of the stock on the tick-down, for a money net flow of $21.32 million into the stock. Of all stocks tracked, Moody’s Corp. had the 19th highest net in-flow for the day. Moody’s Corp. traded down ($0.61) for the day and closed at $98.68Specifically, VP Linda Huber sold 182,595 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $110.13, for a total value of $20,109,187.35. Following the transaction, the vice president now directly owns 63,637 shares of the company’s stock, valued at approximately $7,008,342.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Fauber sold 625 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $99.73, for a total value of $62,331.25. Following the completion of the transaction, the insider now directly owns 41,296 shares in the company, valued at $4,118,450.08. The disclosure for this sale can be found here. 1.48% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on MCO shares. Barclays PLC decreased their price target on Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. Cantor Fitzgerald set a $105.00 price target on Moody’s Corp. and gave the company a “hold” rating in a report on Thursday, September 29th. Argus raised their price target on Moody’s Corp. from $110.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Zacks Investment Research cut Moody’s Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Finally, BMO Capital Markets reissued 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. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $108.77.
The company has a market capitalization of $19.35 billion, a P/E ratio of 21.82 and a beta of 1.36. The company has a 50-day moving average of $103.99 and a 200-day moving average of $102.07.
Moody’s Corp. (NYSE:MCO) last posted its quarterly earnings results on Friday, October 21st. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.18 by $0.16. Moody’s Corp. had a net margin of 25.88% and a negative return on equity of 260.34%. The company had revenue of $917.10 million for the quarter, compared to analyst estimates of $894.05 million. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Moody’s Corp. will post $4.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 21st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Thursday, November 17th. Moody’s Corp.’s payout ratio is 31.97%.
A number of large investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC increased its position in shares of Moody’s Corp. by 614.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,407 shares of the company’s stock worth $132,000 after buying an additional 1,210 shares during the period. Smithfield Trust Co. increased its position in shares of Moody’s Corp. by 57.3% in the third quarter. Smithfield Trust Co. now owns 1,337 shares of the company’s stock worth $145,000 after buying an additional 487 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Moody’s Corp. during the third quarter worth $162,000. Sandy Spring Bank increased its position in shares of Moody’s Corp. by 5,769.2% in the third quarter. Sandy Spring Bank now owns 1,526 shares of the company’s stock worth $165,000 after buying an additional 1,500 shares during the period. Finally, FNY Managed Accounts LLC purchased a new position in shares of Moody’s Corp. during the second quarter worth $190,000. 85.84% of the stock is currently owned by institutional investors.
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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