Insider Selling: Moody’s Corporation (MCO) Director Sells $69,205.00 in Stock
Moody’s Corporation (NYSE:MCO) Director Darrell Duffie sold 500 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $138.41, for a total value of $69,205.00. Following the transaction, the director now owns 21,804 shares in the company, valued at approximately $3,017,891.64. The sale was disclosed in a document filed with the SEC, which is available through this link.
Moody’s Corporation (NYSE MCO) opened at 141.71 on Thursday. The company has a 50-day moving average price of $135.36 and a 200 day moving average price of $123.69. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $141.75. The firm has a market capitalization of $27.07 billion, a P/E ratio of 56.93 and a beta of 1.28.
Moody’s Corporation (NYSE:MCO) last issued its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.18. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 earnings per share. Analysts expect that Moody’s Corporation will post $5.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were paid a $0.38 dividend. The ex-dividend date was Friday, August 18th. This represents a $1.52 annualized dividend and a yield of 1.07%. Moody’s Corporation’s payout ratio is currently 61.29%.
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A number of brokerages have recently issued reports on MCO. Barclays PLC increased their target price on Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. UBS AG increased their target price on Moody’s Corporation from $138.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded Moody’s Corporation from a “sell” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Monday, July 17th. BidaskClub downgraded Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $128.00 price objective (up from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Moody’s Corporation currently has a consensus rating of “Hold” and a consensus price target of $140.13.
A number of institutional investors have recently added to or reduced their stakes in the stock. Pensionfund Sabic acquired a new position in Moody’s Corporation in the third quarter valued at $2,005,000. Pensionfund DSM Netherlands acquired a new position in Moody’s Corporation in the third quarter valued at $3,619,000. Curbstone Financial Management Corp increased its stake in Moody’s Corporation by 90.9% in the third quarter. Curbstone Financial Management Corp now owns 4,200 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 2,000 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Moody’s Corporation by 20.3% in the second quarter. Lord Abbett & CO. LLC now owns 86,852 shares of the business services provider’s stock valued at $10,568,000 after purchasing an additional 14,678 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in Moody’s Corporation by 25.8% in the second quarter. Toronto Dominion Bank now owns 56,446 shares of the business services provider’s stock valued at $6,867,000 after purchasing an additional 11,585 shares during the last quarter. Hedge funds and other institutional investors own 88.74% of the company’s stock.
About Moody’s Corporation
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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