Membership Collective Group Inc. (NYSE:MCG) Given Average Recommendation of “Hold” by Brokerages

Shares of Membership Collective Group Inc. (NYSE:MCGGet Rating) have earned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.14.

MCG has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price objective on shares of Membership Collective Group from $13.00 to $9.50 and set a “sell” rating on the stock in a research report on Tuesday, March 22nd. Citigroup cut their price objective on shares of Membership Collective Group from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, March 28th. Loop Capital cut their price objective on shares of Membership Collective Group from $14.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, March 21st. Zacks Investment Research downgraded shares of Membership Collective Group from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Morgan Stanley cut their price objective on shares of Membership Collective Group from $16.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 17th.

NYSE MCG opened at $7.93 on Friday. The company has a debt-to-equity ratio of 3.55, a current ratio of 0.99 and a quick ratio of 0.90. The company’s 50-day simple moving average is $7.93 and its two-hundred day simple moving average is $10.30. Membership Collective Group has a one year low of $5.96 and a one year high of $14.87.

Membership Collective Group (NYSE:MCGGet Rating) last posted its earnings results on Wednesday, March 16th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $184.52 million for the quarter, compared to analysts’ expectations of $188.74 million. Analysts predict that Membership Collective Group will post -0.45 earnings per share for the current year.

In other Membership Collective Group news, COO Martin Kuczmarski sold 18,200 shares of Membership Collective Group 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Humera Afzal sold 9,379 shares of Membership Collective Group 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 disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Membership Collective Group by 97.7% in the 4th quarter. BlackRock Inc. now owns 256,490 shares of the company’s stock valued at $3,278,000 after purchasing an additional 126,785 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Membership Collective Group in the 4th quarter valued at $200,025,000. California State Teachers Retirement System purchased a new stake in Membership Collective Group in the 4th quarter worth $337,000. Legal & General Group Plc purchased a new stake in Membership Collective Group in the 4th quarter worth $95,000. Finally, Cinctive Capital Management LP purchased a new stake in Membership Collective Group in the 4th quarter worth $2,538,000. Institutional investors and hedge funds own 67.94% of the company’s stock.

About Membership Collective Group (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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Analyst Recommendations for Membership Collective Group (NYSE:MCG)

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