Membership Collective Group (NYSE:MCG) Announces Earnings Results, Misses Estimates By $0.11 EPS

Membership Collective Group (NYSE:MCGGet Rating) posted its quarterly earnings results on Wednesday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11), reports. The company had revenue of $192.01 million during the quarter, compared to analyst estimates of $203.76 million. Membership Collective Group updated its FY 2022 guidance to EPS.

Shares of MCG stock traded down $0.26 during trading hours on Friday, hitting $7.86. 160,669 shares of the company were exchanged, compared to its average volume of 353,590. The firm has a market cap of $483.68 million and a P/E ratio of -5.07. Membership Collective Group has a fifty-two week low of $5.96 and a fifty-two week high of $14.87. The company has a debt-to-equity ratio of 3.55, a quick ratio of 0.90 and a current ratio of 0.99. The company has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $9.51.

Several brokerages have commented on MCG. Loop Capital lowered their target price on Membership Collective Group from $14.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, March 21st. The Goldman Sachs Group reduced their price target on Membership Collective Group from $13.00 to $9.50 and set a “sell” rating on the stock in a report on Tuesday, March 22nd. Citigroup reduced their price target on Membership Collective Group from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, March 28th. Zacks Investment Research upgraded Membership Collective Group from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Finally, Morgan Stanley reduced their price target on Membership Collective Group from $16.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, March 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $13.14.

Several large investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Membership Collective Group during the first quarter worth approximately $91,000. Pelham Capital Ltd. raised its position in shares of Membership Collective Group by 33.8% during the first quarter. Pelham Capital Ltd. now owns 8,516,473 shares of the company’s stock worth $66,088,000 after purchasing an additional 2,151,967 shares during the period. State Street Corp raised its position in shares of Membership Collective Group by 9.6% during the first quarter. State Street Corp now owns 127,929 shares of the company’s stock worth $993,000 after purchasing an additional 11,212 shares during the period. Lansdowne Partners UK LLP raised its position in shares of Membership Collective Group by 20.1% during the first quarter. Lansdowne Partners UK LLP now owns 3,049,801 shares of the company’s stock worth $23,679,000 after purchasing an additional 510,174 shares during the period. Finally, Stormborn Capital Management LLC acquired a new position in shares of Membership Collective Group during the first quarter worth approximately $1,009,000. 71.84% of the stock is currently owned by institutional investors.

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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