ProShare Advisors LLC Lowers Holdings in Moody’s Corporation $MCO

ProShare Advisors LLC reduced its position in Moody’s Corporation (NYSE:MCO) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,957 shares of the business services provider’s stock after selling 3,304 shares during the period. ProShare Advisors LLC’s holdings in Moody’s were worth $14,750,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Rexford Capital Inc. purchased a new position in Moody’s during the 2nd quarter valued at about $25,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Moody’s in the 2nd quarter worth approximately $25,000. Johnson Financial Group Inc. bought a new position in shares of Moody’s during the second quarter valued at approximately $28,000. Heartwood Wealth Advisors LLC bought a new position in shares of Moody’s during the third quarter valued at approximately $31,000. Finally, Salomon & Ludwin LLC purchased a new position in Moody’s during the third quarter valued at approximately $38,000. 92.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MCO shares. JPMorgan Chase & Co. lowered their target price on Moody’s from $580.00 to $560.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Mizuho boosted their price target on Moody’s from $539.00 to $550.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. BMO Capital Markets decreased their price objective on Moody’s from $534.00 to $507.00 and set a “market perform” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen lowered Moody’s from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Daiwa Securities Group upgraded shares of Moody’s from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $500.00 to $590.00 in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Moody’s has an average rating of “Moderate Buy” and an average target price of $558.56.

Moody’s Stock Down 6.8%

Moody’s stock opened at $418.73 on Wednesday. Moody’s Corporation has a 1-year low of $378.71 and a 1-year high of $546.88. The business has a fifty day moving average price of $506.12 and a 200-day moving average price of $498.23. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $74.70 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 2.08 and a beta of 1.44.

Insiders Place Their Bets

In other Moody’s news, CEO Robert Fauber sold 575 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $498.90, for a total value of $286,867.50. Following the completion of the sale, the chief executive officer owned 61,082 shares of the company’s stock, valued at approximately $30,473,809.80. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Moody’s Company Profile

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.