On October 5, 2023, DAVENPORT & Co LLC announced a significant decrease in its position in shares of Moody’s Co. This news was revealed in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). According to the filing, DAVENPORT & Co LLC sold approximately 161,903 shares during the second quarter, resulting in a reduction of its holdings by 98.1%. As of the filing date, the fund owned only 3,129 shares of Moody’s stock which were valued at $1,088,000.
Moody’s, a business services provider listed on the New York Stock Exchange under the ticker symbol MCO, reported its quarterly earnings data on July 25th. The company surpassed analysts’ consensus estimates by announcing earnings per share of $2.30 for the quarter. This exceeded expectations by $0.07 per share. Moody’s achieved a return on equity of 55.98% and a net margin of 25.81%. Moreover, it generated revenue amounting to $1.49 billion during this period, significantly exceeding analysts’ projections of $1.45 billion. In comparison to the previous year’s figures for the same period, Moody’s reported growth with an increase in revenue by 8.2%. Based on these results and other sector factors assessed by equities analysts, it is forecasted that Moody’s will post earnings per share of $10.06 for this fiscal year.
In recent times, there have been several research reports evaluating Moody’s stock performance and offering insights into potential investment decisions regarding it. For example, StockNews.com upgraded their rating on Moody’s from “hold” to “buy” on September 15th relieving some concerns over its prospects moving forward.
Wolfe Research also initiated coverage on Moody’s on September 13th with an “outperform” rating. In conjunction with this rating, they established a price target of $390.00 for the company’s shares.
Morgan Stanley, on the other hand, revised Moody’s price target from $345.00 to $332.00 and gave it an “equal weight” rating in a report issued on Tuesday. This moderate assessment was contrasted by Wells Fargo & Company’s bullish outlook which involved raising their price target from $346.00 to $365.00 in their report published on July 26th.
Bank of America commenced coverage on Moody’s on June 15th and assigned it a “buy” rating in their analysis of the stock.
Given all these research reports, it is noteworthy that Moody’s has received a moderate average rating of “Moderate Buy” according to Bloomberg.com data. Additionally, the average target price for the company’s stock is projected to be around $330.13.
As investors consider these recent developments surrounding Moody’s, they may find valuable guidance within these research reports as they make informed decisions about their investment strategies moving forward.
Significant Shareholder Changes in Moody’s Co.: Hedge Funds Adjust Positions
October 5, 2023 – Moody’s Co., a business services provider specializing in credit ratings and risk analysis, has seen significant changes in its shareholder landscape. Several hedge funds have made notable adjustments to their positions in the company, which have resulted in shifts in ownership stakes.
BlackRock Inc., one of the largest investment management firms globally, has raised its holdings in Moody’s by 1.6% during the first quarter. This increase translates to BlackRock now owning 13,160,187 shares of Moody’s stock, valued at $4,027,280,000. The firm acquired these additional shares by purchasing 210,068 more during the last quarter.
TCI Fund Management Ltd., another prominent hedge fund company, has also revised its holdings in Moody’s during the first quarter. TCI Fund Management Ltd. now possesses 10,369,479 shares of the business services provider’s stock with a valuation of $3,173,268,000. This represents an increment of 12.6%, as the firm procured an additional 1,157,192 shares over the same period.
Likewise, Akre Capital Management LLC has slightly increased its stake in Moody’s by acquiring an extra 0.7% during the first quarter. With this adjustment came the acquisition of 38,615 more shares from the business services provider’s stock. In total, Akre Capital Management LLC now owns 5,659,712 shares valued at $1,909,643.
Morgan Stanley prominently augmented its holdings in Moody’s after raising it by as much as 29.7% during the fourth quarter of last year. As a result of this change,Morgan Stanley currently holds approximately3 ,994 ,497 stocks valued at $1 ,112 ,947 ,000 .
In a truly astounding turn of events,Bank Julius Baer & Co . Ltd Zurich saw an absolutely monumental increase in its holdings in Moody’s. The firm raised its stake b) a staggering 98,060 . 7% during the second quarter, resulting in the acquisition of 3 ,127 ,401 more shares.
Institutional investors and hedge funds now account for a large portion of Moody’s stock ownership, holding approximately 90.07% of the company. This signifies their strong interest and confidence in the business services provider.
On an individual level, Moody’s CEO Robert Fauber made a sale of 592 shares in the company on July 17th, at an average price of $354.25 per share. This transaction amounted to a total value of $209,716.00. Following this sale,Fauber still holds 65,838 shares individually which value is approximately $23,323 ,111 .50 .
Additionally,SVP Caroline Sullivan personally sold 297 shares valued at $339.04 each on August 10th.Her overall stock holdings comprise only891 shares which value is around $302 ,084 .64.
Overall,the transactions conducted by insiders over the past three months have resulted in a substantial number of shares sold – namely29 ,157 – with an estimated value of$9 ,909 ,430 . These sales account for about0 .42 %of the company’s total stock ownership.
Moody’s Co.’s stock began trading on October 5th at a price of $314.53 per share. Over the past twelve months,the share price has ranged from a low point of $230.16 to a high point of $363.19.Diligent investors will note that Moody’s Co.has maintained a relatively stable financial position throughout this period.
As one would expect from the business services provider,a critical examination reveals that they possess healthy financial ratios.The company boasts acurrent ratio and quick ratio of1 .65 each, indicating their ability to meet short-term obligations efficiently.A common concern among businesses is the debt-to-equity ratio,which stands at2.09 for Moody’s Co., aligning with industry standards.Finally,a market capitalization of$57.72 billion highlights Moody’s position as a leading player in the industry.
The company’s stock performance continues to be closely monitored by investors as they analyze its potential for growth. With its current price to earnings (PE) ratio standing at 40.53 and a price/earnings to growth (PEG) ratio of 2.48, some investors may perceive these figures as indications of future investment opportunities.
Although financial markets can be complex and at times difficult to interpret, one cannot discount the value that comprehensive analysis provides investors. Knowledge of changes in share ownership, insider transactions, and relevant financial ratios allows inveseo tors to make informed decisions based on data and not mere uncertainty.