Moody’s Corporation (MCO) Shares Bought by King Luther Capital Management Corp
King Luther Capital Management Corp raised its stake in Moody’s Corporation (NYSE:MCO) by 2.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 207,652 shares of the business services provider’s stock after purchasing an additional 5,873 shares during the period. King Luther Capital Management Corp owned 0.11% of Moody’s Corporation worth $25,267,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Moody’s Corporation in the 1st quarter worth about $101,000. TrimTabs Asset Management LLC grew its position in shares of Moody’s Corporation by 89.6% during the 1st quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock valued at $108,000 after buying an additional 456 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Moody’s Corporation during the 1st quarter valued at about $108,000. State of Alaska Department of Revenue bought a new stake in shares of Moody’s Corporation during the 1st quarter valued at about $113,000. Finally, IFP Advisors Inc grew its position in shares of Moody’s Corporation by 78.1% during the 2nd quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after buying an additional 502 shares during the last quarter. 88.78% of the stock is owned by institutional investors.
Moody’s Corporation (MCO) traded down 0.55% on Thursday, reaching $134.63. 78,042 shares of the company’s stock traded hands. The stock has a market capitalization of $25.72 billion, a PE ratio of 54.09 and a beta of 1.30. The firm’s 50-day moving average is $131.78 and its 200 day moving average is $120.80. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $136.79.
Moody’s Corporation (NYSE:MCO) last released its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Analysts forecast that Moody’s Corporation will post $5.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, August 18th. Moody’s Corporation’s payout ratio is 61.29%.
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A number of brokerages recently weighed in on MCO. Barclays PLC boosted their price objective on shares of 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 reaffirmed a “neutral” rating and set a $138.00 price objective (up previously from $121.00) on shares of Moody’s Corporation in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research report on Thursday, August 17th. BMO Capital Markets boosted their price objective on shares of Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a research report on Friday, July 14th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $128.00 price objective (up previously from $116.00) on shares of Moody’s Corporation in a research report on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $136.71.
In other news, insider Raymond W. Mcdaniel sold 45,216 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the completion of the transaction, the insider now directly owns 292,310 shares of the company’s stock, valued at approximately $39,216,309.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Linda Huber sold 13,697 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $122.05, for a total transaction of $1,671,718.85. Following the transaction, the vice president now directly owns 77,835 shares of the company’s stock, valued at $9,499,761.75. The disclosure for this sale can be found here. Insiders have sold a total of 166,295 shares of company stock valued at $21,232,039 over the last ninety days. 1.17% of the stock is owned by insiders.
Moody’s Corporation Company Profile
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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