Moody’s Corporation $MCO Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. raised its holdings in Moody’s Corporation (NYSE:MCO) by 98.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,845 shares of the business services provider’s stock after purchasing an additional 7,359 shares during the period. Cibc World Market Inc.’s holdings in Moody’s were worth $7,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC acquired a new position in Moody’s during the 2nd quarter worth $267,000. CWM LLC raised its stake in Moody’s by 29.7% during the second quarter. CWM LLC now owns 4,980 shares of the business services provider’s stock valued at $2,498,000 after buying an additional 1,141 shares in the last quarter. MGO One Seven LLC lifted its holdings in Moody’s by 11.1% during the 2nd quarter. MGO One Seven LLC now owns 1,024 shares of the business services provider’s stock worth $514,000 after buying an additional 102 shares during the last quarter. RFG Advisory LLC grew its position in shares of Moody’s by 3.4% in the 2nd quarter. RFG Advisory LLC now owns 986 shares of the business services provider’s stock worth $495,000 after acquiring an additional 32 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of Moody’s during the 2nd quarter valued at approximately $123,000. Institutional investors own 92.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Moody’s from $620.00 to $660.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Daiwa Securities Group raised shares of Moody’s from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $500.00 to $590.00 in a research report on Tuesday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of Moody’s from $580.00 to $560.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Mizuho lifted their target price on Moody’s from $539.00 to $550.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Raymond James Financial upgraded Moody’s from an “underperform” rating to a “market perform” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $558.56.

Moody’s Price Performance

Shares of NYSE:MCO opened at $426.82 on Friday. The firm’s 50 day moving average is $501.63 and its two-hundred day moving average is $496.50. The firm has a market capitalization of $76.14 billion, a P/E ratio of 34.31, a PEG ratio of 1.92 and a beta of 1.44. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. Moody’s Corporation has a 52 week low of $378.71 and a 52 week high of $546.88.

Insiders Place Their Bets

In other Moody’s news, CEO Robert Fauber sold 575 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $498.90, for a total transaction of $286,867.50. Following the completion of the transaction, the chief executive officer owned 61,082 shares in the company, valued at approximately $30,473,809.80. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

About Moody’s

Moody’s Corporation is a global provider of credit ratings, research, data and analytics that support financial decision-making and transparency in capital markets. The company traces its origins to the early 20th century when financial analyst John Moody began publishing credit information; today Moody’s is headquartered in New York and serves a broad set of market participants including investors, issuers, financial institutions, corporations, governments and regulators.

Moody’s operates primarily through two complementary businesses.