Visionary Asset Management Inc. Takes Position in Moody’s Corporation (NYSE:MCO)
Visionary Asset Management Inc. purchased a new position in shares of Moody’s Corporation (NYSE:MCO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,748 shares of the business services provider’s stock, valued at approximately $213,000.
Several other hedge funds have also modified their holdings of the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Moody’s Corporation during the first quarter worth about $101,000. TrimTabs Asset Management LLC increased its stake in shares of Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock worth $108,000 after buying an additional 456 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Moody’s Corporation during the first quarter worth about $108,000. State of Alaska Department of Revenue acquired a new stake in shares of Moody’s Corporation during the first quarter worth about $113,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Moody’s Corporation during the first quarter worth about $137,000. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Moody’s Corporation (NYSE MCO) traded up 0.36% during mid-day trading on Thursday, reaching $127.06. The company had a trading volume of 285,556 shares. The firm has a 50-day moving average of $121.16 and a 200 day moving average of $113.22. The company has a market capitalization of $24.31 billion, a PE ratio of 57.81 and a beta of 1.29. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $127.38.
Moody’s Corporation (NYSE:MCO) last announced its quarterly earnings results on Friday, May 5th. The business services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.23. Moody’s Corporation had a negative return on equity of 167.79% and a net margin of 11.37%. The company had revenue of $975.20 million during the quarter, compared to analyst estimates of $914.27 million. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. On average, analysts predict that Moody’s Corporation will post $5.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, August 18th. Moody’s Corporation’s payout ratio is presently 70.05%.
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A number of brokerages have recently issued reports on MCO. Barclays PLC reiterated a “hold” rating and set a $118.00 price target on shares of Moody’s Corporation in a research report on Thursday, April 27th. Zacks Investment Research downgraded Moody’s Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. BidaskClub downgraded Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. BMO Capital Markets reiterated a “hold” rating and set a $124.00 price target on shares of Moody’s Corporation in a research report on Wednesday, April 26th. Finally, Morgan Stanley lifted their price target on Moody’s Corporation from $118.00 to $121.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Moody’s Corporation currently has an average rating of “Hold” and a consensus target price of $118.63.
In related news, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $123.23, for a total transaction of $7,599,101.18. Following the completion of the transaction, the insider now directly owns 308,760 shares of the company’s stock, valued at $38,048,494.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $113.35, for a total value of $6,989,954.45. Following the transaction, the insider now directly owns 308,761 shares of the company’s stock, valued at $34,998,059.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 212,612 shares of company stock valued at $25,104,433. 1.17% of the stock is owned by corporate insiders.
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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