Sit Investment Associates Inc. Sells 4,000 Shares of Moody’s Corp. (MCO)
Sit Investment Associates Inc. decreased its position in shares of Moody’s Corp. (NYSE:MCO) by 35.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,400 shares of the company’s stock after selling 4,000 shares during the period. Sit Investment Associates Inc.’s holdings in Moody’s Corp. were worth $693,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. bought a new stake in Moody’s Corp. during the first quarter worth $103,000. FNY Managed Accounts LLC acquired a new stake in shares of Moody’s Corp. during the second quarter worth approximately $190,000. BlueMountain Capital Management LLC acquired a new stake in shares of Moody’s Corp. during the first quarter worth approximately $210,000. CIBC World Markets Inc. acquired a new stake in shares of Moody’s Corp. during the second quarter worth approximately $220,000. Finally, Fisher Asset Management LLC raised its stake in shares of Moody’s Corp. by 4.6% in the second quarter. Fisher Asset Management LLC now owns 2,260 shares of the company’s stock worth $221,000 after buying an additional 100 shares during the last quarter. 86.91% of the stock is owned by hedge funds and other institutional investors.
Shares of Moody’s Corp. (NYSE:MCO) traded down 1.27% during trading on Thursday, hitting $106.89. The stock had a trading volume of 666,939 shares. Moody’s Corp. has a 12 month low of $77.76 and a 12 month high of $110.83. The stock has a 50-day moving average price of $108.43 and a 200 day moving average price of $101.16. The company has a market cap of $20.55 billion, a P/E ratio of 23.87 and a beta of 1.35.
Moody’s Corp. (NYSE:MCO) last posted its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.03. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The company earned $928.90 million during the quarter, compared to analysts’ expectations of $909.08 million. During the same quarter in the previous year, the business earned $1.28 EPS. Moody’s Corp.’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Moody’s Corp. will post $4.63 EPS for the current fiscal year.
A number of brokerages recently commented on MCO. Morgan Stanley set a $112.00 price target on Moody’s Corp. and gave the stock a “buy” rating in a research note on Friday, August 5th. Barclays PLC reaffirmed an “overweight” rating and issued a $95.00 price target on shares of Moody’s Corp. in a research note on Tuesday, June 28th. Zacks Investment Research raised Moody’s Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $96.00 price target on shares of Moody’s Corp. in a research note on Friday, July 22nd. Finally, Argus raised their price target on Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Moody’s Corp. has an average rating of “Hold” and an average price target of $109.29.
In other Moody’s Corp. news, VP Linda Huber sold 44,500 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $105.00, for a total value of $4,672,500.00. Following the completion of the sale, the vice president now directly owns 101,059 shares in the company, valued at approximately $10,611,195. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Fauber sold 1,970 shares of the company’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $108.37, for a total value of $213,488.90. Following the completion of the sale, the insider now owns 41,074 shares of the company’s stock, valued at $4,451,189.38. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
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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