Boothbay Fund Management LLC reduced its holdings in Moody's Co. (NYSE:MCO) by 73.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,890 shares of the business services provider’s stock after selling 10,999 shares during the period. Boothbay Fund Management LLC’s holdings in Moody's were worth $542,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust increased its position in Moody's by 156.7% in the 3rd quarter. Grove Bank & Trust now owns 901 shares of the business services provider’s stock worth $125,000 after buying an additional 550 shares during the period. IFP Advisors Inc increased its position in Moody's by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after buying an additional 502 shares during the period. Sun Life Financial INC increased its position in Moody's by 12,200.0% in the 2nd quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock worth $150,000 after buying an additional 1,220 shares during the period. Salem Investment Counselors Inc. increased its position in Moody's by 0.6% in the 2nd quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock worth $164,000 after buying an additional 8 shares during the period. Finally, Invictus RG bought a new position in Moody's in the 3rd quarter worth approximately $199,000. 87.49% of the stock is currently owned by institutional investors.
Moody's Co. (NYSE:MCO) traded up $0.66 on Friday, hitting $152.39. The stock had a trading volume of 513,388 shares, compared to its average volume of 679,108. The company has a market capitalization of $29,121.73, a PE ratio of 26.60, a PEG ratio of 2.70 and a beta of 1.36. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of -32.57. Moody's Co. has a 1-year low of $93.51 and a 1-year high of $153.86.
Moody's (NYSE:MCO) last released its quarterly earnings data on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $992.81 million. Moody's had a negative return on equity of 187.20% and a net margin of 13.73%. Moody's’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. analysts anticipate that Moody's Co. will post 5.94 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, November 20th. Moody's’s dividend payout ratio is 54.29%.
MCO has been the topic of several recent analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $137.00 price target (up from $131.00) on shares of Moody's in a research report on Wednesday, August 30th. They noted that the move was a valuation call. BMO Capital Markets restated a “market perform” rating and set a $136.00 price objective (up from $135.00) on shares of Moody's in a research report on Wednesday, September 6th. Barclays boosted their price objective on Moody's from $135.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, September 15th. Morgan Stanley restated an “equal weight” rating and set a $135.00 price objective (up from $134.00) on shares of Moody's in a research report on Friday, October 6th. Finally, UBS boosted their price objective on Moody's from $142.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, November 6th. Six 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 company’s stock. Moody's has a consensus rating of “Buy” and an average price target of $151.89.
In related news, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now owns 21,804 shares of the company’s stock, valued at approximately $3,017,891.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ewald Kist sold 4,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $142.00, for a total value of $568,000.00. The disclosure for this sale can be found here. 1.17% of the stock is owned by insiders.
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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 research and analytical services to financial institution customers.
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