Quantum Capital Management LLC NJ cut its holdings in Moody’s Corporation (NYSE:MCO) by 8.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,492 shares of the business services provider’s stock after selling 2,353 shares during the period. Quantum Capital Management LLC NJ’s holdings in Moody’s were worth $3,688,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of Moody’s by 78.1% in the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 502 shares in the last quarter. Sun Life Financial INC grew its holdings in Moody’s by 12,200.0% during the second quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 1,220 shares during the period. Salem Investment Counselors Inc. grew its holdings in Moody’s by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 8 shares during the period. Smithfield Trust Co. grew its holdings in Moody’s by 6.7% during the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock valued at $174,000 after purchasing an additional 90 shares during the period. Finally, IFC Holdings Incorporated FL bought a new position in Moody’s during the third quarter valued at $203,000. 88.00% of the stock is owned by institutional investors.
Shares of Moody’s Corporation (NYSE:MCO) opened at $150.23 on Friday. The stock has a market capitalization of $28,708.95, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.66 and a beta of 1.35. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $150.73. 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 (NYSE:MCO) last posted its earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $992.81 million. Moody’s had a negative return on equity of 187.20% and a net margin of 13.73%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 earnings per share. sell-side analysts forecast that Moody’s Corporation will post 5.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.01%. Moody’s’s dividend payout ratio (DPR) is presently 54.29%.
In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $134.16, for a total value of $6,066,178.56. Following the sale, the insider now owns 292,310 shares in the company, valued at $39,216,309.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Darrell Duffie sold 500 shares of the 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 completion of the sale, the director now owns 21,804 shares in the company, valued at approximately $3,017,891.64. The disclosure for this sale can be found here. Insiders sold 49,716 shares of company stock worth $6,703,384 in the last quarter. 1.17% of the stock is currently owned by company insiders.
MCO has been the subject of several research reports. Argus increased their price objective on Moody’s to $165.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Credit Suisse Group reissued a “neutral” rating and set a $137.00 price objective (up from $131.00) on shares of Moody’s in a report on Wednesday, August 30th. They noted that the move was a valuation call. Cantor Fitzgerald reissued a “hold” rating and set a $148.00 price objective on shares of Moody’s in a report on Sunday, November 19th. BMO Capital Markets increased their price objective on Moody’s from $143.00 to $146.00 and gave the company a “market perform” rating in a report on Monday, November 6th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $149.00 price objective (up from $140.00) on shares of Moody’s in a report on Wednesday, October 4th. Six 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 stock. The stock has a consensus rating of “Buy” and an average price target of $151.89.
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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