Kornitzer Capital Management Inc. KS Cuts Stock Position in Moody’s Co. (NYSE:MCO)

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Kornitzer Capital Management Inc. KS lowered its holdings in Moody’s Co. (NYSE:MCO) by 3.1% during the 3rd quarter, Holdings Channel reports. The firm owned 20,279 shares of the business services provider’s stock after selling 650 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Moody’s were worth $4,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley raised its stake in shares of Moody’s by 14.9% in the second quarter. Morgan Stanley now owns 2,115,215 shares of the business services provider’s stock valued at $413,121,000 after buying an additional 274,515 shares during the period. Investec Asset Management LTD raised its stake in shares of Moody’s by 1.1% in the second quarter. Investec Asset Management LTD now owns 2,044,170 shares of the business services provider’s stock valued at $399,247,000 after buying an additional 21,396 shares during the period. Northern Trust Corp raised its stake in shares of Moody’s by 6.7% in the second quarter. Northern Trust Corp now owns 1,936,572 shares of the business services provider’s stock valued at $378,232,000 after buying an additional 121,443 shares during the period. Windacre Partnership LLC raised its stake in shares of Moody’s by 10.1% in the second quarter. Windacre Partnership LLC now owns 1,642,000 shares of the business services provider’s stock valued at $320,699,000 after buying an additional 150,800 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Moody’s by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 1,346,417 shares of the business services provider’s stock valued at $262,969,000 after buying an additional 3,828 shares during the period. 90.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:MCO traded down $0.14 during midday trading on Friday, reaching $218.13. 449,098 shares of the company traded hands, compared to its average volume of 866,542. The company has a quick ratio of 1.71, a current ratio of 1.42 and a debt-to-equity ratio of 7.50. Moody’s Co. has a 12 month low of $129.26 and a 12 month high of $223.82. The firm has a market capitalization of $40.23 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 2.61 and a beta of 1.24. The firm’s fifty day moving average price is $212.98 and its two-hundred day moving average price is $203.72.

Moody’s (NYSE:MCO) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.16. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts forecast that Moody’s Co. will post 8.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. Moody’s’s payout ratio is 27.06%.

In related news, insider Mark Almeida sold 27,236 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total transaction of $5,639,486.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Fauber sold 3,721 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $212.71, for a total value of $791,493.91. Following the sale, the insider now owns 48,382 shares in the company, valued at $10,291,335.22. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several analysts have issued reports on the company. William Blair restated an “outperform” rating on shares of Moody’s in a research note on Thursday, October 31st. Argus boosted their target price on Moody’s to $240.00 and gave the company a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets boosted their target price on Moody’s to $230.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. ValuEngine lowered Moody’s from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, UBS Group boosted their target price on Moody’s from $245.00 to $257.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Moody’s has an average rating of “Hold” and an average target price of $208.91.

Moody’s Company Profile

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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Want to see what other hedge funds are holding MCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moody’s Co. (NYSE:MCO).

Institutional Ownership by Quarter for Moody`s (NYSE:MCO)

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