Wealthfront Advisers LLC Boosts Holdings in Moody’s Corporation $MCO

Wealthfront Advisers LLC increased its stake in shares of Moody’s Corporation (NYSE:MCO) by 29.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,687 shares of the business services provider’s stock after acquiring an additional 3,773 shares during the quarter. Wealthfront Advisers LLC’s holdings in Moody’s were worth $7,951,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MCO. Rexford Capital Inc. acquired a new stake in shares of Moody’s during the second quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new position in Moody’s during the second quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new position in Moody’s during the second quarter worth approximately $28,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Moody’s in the third quarter valued at approximately $31,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Moody’s during the third quarter worth approximately $38,000. Institutional investors and hedge funds own 92.11% of the company’s stock.

Moody’s Stock Performance

NYSE MCO opened at $411.65 on Thursday. The stock has a market capitalization of $73.44 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 1.94 and a beta of 1.44. The business’s 50 day moving average is $504.52 and its two-hundred day moving average is $497.63. Moody’s Corporation has a 12-month low of $378.71 and a 12-month high of $546.88. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70.

Insider Transactions at Moody’s

In other Moody’s news, CEO Robert Fauber sold 592 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $516.15, for a total value of $305,560.80. Following the completion of the sale, the chief executive officer owned 61,082 shares of the company’s stock, valued at approximately $31,527,474.30. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

MCO has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Moody’s in a research report on Friday, October 31st. Wells Fargo & Company increased their target price on shares of Moody’s from $620.00 to $660.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Daiwa Securities Group raised Moody’s from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $500.00 to $590.00 in a report on Tuesday, January 13th. Wall Street Zen downgraded Moody’s from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Stifel Nicolaus set a $574.00 target price on Moody’s and gave the company a “buy” rating in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $558.56.

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.