Zacks Investment Research Lowers Membership Collective Group (NYSE:MCG) to Sell

Zacks Investment Research downgraded shares of Membership Collective Group (NYSE:MCG – Get Rating) from a hold rating to a sell rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “The Membership Collective Group provides global membership platform of physical and digital spaces which connects a vibrant, diverse and global group of members. The members use the MCG platform to work, socialize, connect, create and flourish all over the world. The Membership Collective Group is based in London, the United Kingdom. “

MCG has been the subject of several other reports. Citigroup decreased their target price on shares of Membership Collective Group from $18.00 to $14.00 and set a buy rating for the company in a report on Monday, March 28th. Morgan Stanley decreased their target price on shares of Membership Collective Group from $16.00 to $11.00 and set an overweight rating for the company in a report on Thursday, March 17th. Loop Capital decreased their target price on shares of Membership Collective Group from $14.00 to $8.00 and set a hold rating for the company in a report on Monday, March 21st. Finally, The Goldman Sachs Group decreased their target price on shares of Membership Collective Group from $13.00 to $9.50 and set a sell rating for the company in a report on Tuesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $13.14.

Shares of MCG opened at $7.93 on Thursday. The firm’s 50 day moving average is $7.95 and its 200-day moving average is $10.35. The company has a quick ratio of 0.90, a current ratio of 0.99 and a debt-to-equity ratio of 3.55. Membership Collective Group has a 12-month low of $5.96 and a 12-month high of $14.87.

Membership Collective Group (NYSE:MCG – Get Rating) last announced its earnings results on Wednesday, March 16th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The firm had revenue of $184.52 million during the quarter, compared to analyst estimates of $188.74 million. On average, research analysts anticipate that Membership Collective Group will post -0.45 EPS for the current year.

In related news, CFO Humera Afzal sold 9,379 shares of the firm’s stock in a transaction that occurred on Tuesday, January 25th. The shares were sold at an average price of $9.19, for a total transaction of $86,193.01. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Martin Kuczmarski sold 18,200 shares of the firm’s stock in a transaction that occurred on Wednesday, January 19th. The shares were sold at an average price of $9.36, for a total transaction of $170,352.00. The disclosure for this sale can be found here.

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new position in shares of Membership Collective Group in the fourth quarter valued at approximately $95,000. Citigroup Inc. bought a new position in shares of Membership Collective Group in the third quarter valued at approximately $157,000. Credit Suisse AG bought a new position in shares of Membership Collective Group in the fourth quarter valued at approximately $289,000. California State Teachers Retirement System bought a new position in shares of Membership Collective Group in the fourth quarter valued at approximately $337,000. Finally, CNA Financial Corp bought a new position in shares of Membership Collective Group in the third quarter valued at approximately $352,000. 67.94% of the stock is currently owned by institutional investors.

Membership Collective Group Company Profile (Get Rating)

Membership Collective Group Inc operates a global membership platform of physical and digital spaces that connects members worldwide. The company's members use the MCG platform to work and socialize, connect, create, and have fun. As of January 2, 2022, it served approximately 155,800 members through a portfolio of 33 Soho Houses, 9 Soho Works clubs, The Ned in London, Soho Home, and Scorpios Beach Club in Mykonos, as well as digital channels.

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