October 17, 2020

Moody’s Co. (NYSE:MCO) Short Interest Up 42.6% in September

Moody's Co. (NYSE:MCO) Short Interest Up 42.6% in September


Moody’s Co. (NYSE:MCO) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,940,000 shares, a growth of 42.6% from the September 15th total of 1,360,000 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 594,900 shares, the days-to-cover ratio is currently 3.3 days.

Shares of NYSE MCO opened at $289.06 on Friday. The company has a market capitalization of $54.26 billion, a P/E ratio of 31.66, a price-to-earnings-growth ratio of 3.11 and a beta of 1.12. The business’s 50-day moving average price is $287.72 and its two-hundred day moving average price is $270.34. Moody’s has a one year low of $164.19 and a one year high of $305.95. The company has a debt-to-equity ratio of 5.14, a current ratio of 2.10 and a quick ratio of 2.10.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.55. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.23 billion. Moody’s had a return on equity of 207.04% and a net margin of 33.38%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 EPS. On average, equities analysts anticipate that Moody’s will post 9.48 EPS for the current year.

In other Moody’s news, EVP John J. Goggins sold 11,700 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $274.14, for a total transaction of $3,207,438.00. Insiders own 0.79% of the company’s stock.

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A number of large investors have recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new position in Moody’s in the 1st quarter valued at approximately $26,000. Jacobi Capital Management LLC raised its holdings in Moody’s by 941.7% in the 2nd quarter. Jacobi Capital Management LLC now owns 1,000 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 904 shares in the last quarter. CX Institutional raised its holdings in Moody’s by 144.0% in the 2nd quarter. CX Institutional now owns 122 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Hexavest Inc. raised its holdings in Moody’s by 245.9% in the 3rd quarter. Hexavest Inc. now owns 128 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 91 shares in the last quarter. Finally, Norway Savings Bank acquired a new position in Moody’s in the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Several brokerages have recently weighed in on MCO. Zacks Investment Research upgraded Moody’s from a “hold” rating to a “buy” rating and set a $293.00 price objective for the company in a report on Wednesday, September 9th. Credit Suisse Group reissued a “buy” rating and set a $330.00 price target on shares of Moody’s in a research report on Tuesday, July 28th. Morgan Stanley upped their price target on Moody’s from $275.00 to $292.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. UBS Group upped their price target on Moody’s from $358.00 to $368.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, Stifel Nicolaus upped their price target on Moody’s from $293.00 to $296.00 and gave the company a “hold” rating in a research report on Friday, October 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Moody’s currently has a consensus rating of “Buy” and a consensus target price of $294.00.

About Moody’s

Moody’s Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody’s Investors Service and Moody’s Analytics. The Moody’s Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.

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