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

Cibc World Market Inc. increased its stake in shares of Moody’s Corporation (NYSE:MCO) by 98.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,845 shares of the business services provider’s stock after buying 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 filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCO. Vanguard Group Inc. increased its stake in Moody’s by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 15,006,997 shares of the business services provider’s stock valued at $7,527,360,000 after purchasing an additional 191,368 shares in the last quarter. TCI Fund Management Ltd. increased its holdings in Moody’s by 0.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 13,246,979 shares of the business services provider’s stock valued at $6,644,552,000 after acquiring an additional 83,872 shares in the last quarter. Geode Capital Management LLC lifted its stake in Moody’s by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,888,788 shares of the business services provider’s stock valued at $1,943,418,000 after buying an additional 69,455 shares in the last quarter. Fiera Capital Corp grew its holdings in Moody’s by 1.4% during the 2nd quarter. Fiera Capital Corp now owns 2,574,948 shares of the business services provider’s stock valued at $1,291,568,000 after buying an additional 35,123 shares during the last quarter. Finally, Norges Bank purchased a new position in Moody’s during the second quarter worth $987,524,000. 92.11% of the stock is owned by hedge funds and other institutional investors.

Moody’s Stock Up 2.8%

MCO opened at $426.82 on Friday. Moody’s Corporation has a 1 year low of $378.71 and a 1 year high of $546.88. The firm has a 50 day moving average price of $501.63 and a 200 day moving average price of $496.50. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $76.14 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44.

Wall Street Analyst Weigh In

A number of research firms recently commented on MCO. Wells Fargo & Company increased their price objective on Moody’s from $620.00 to $660.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Raymond James Financial upgraded shares of Moody’s from an “underperform” rating to a “market perform” rating in a report on Friday, October 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Moody’s in a research report on Friday, October 31st. Stifel Nicolaus set a $574.00 target price on shares of Moody’s and gave the stock a “buy” rating in a research report on Monday, January 5th. Finally, Evercore raised their price target on Moody’s from $540.00 to $620.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Moody’s presently has an average rating of “Moderate Buy” and an average price target of $558.56.

Insider Activity at Moody’s

In related news, CEO Robert Fauber sold 592 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $516.15, for a total transaction of $305,560.80. Following the completion of the sale, the chief executive officer directly owned 61,082 shares of the company’s stock, valued at approximately $31,527,474.30. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Moody’s Company Profile

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.