The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Moody’s Corporation shares valued at $12,758,587 were sold by MCDANIEL RAYMOND W on Feb 02. At $331.79 per share, MCDANIEL RAYMOND W sold 38,454 shares. The insider’s holdings dropped to 67,275 shares worth approximately $19.53 million following the completion of this transaction.
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Also, MCDANIEL RAYMOND W sold 17,009 shares, netting a total of over 5,533,021 in proceeds. Following the sale of shares at $325.30 each, the insider now holds 67,275 shares.
Before that, MCDANIEL RAYMOND W had sold 7,500 shares from its account. In a trade valued at $2,061,600, the Director traded Moody’s Corporation shares for $274.88 each. Upon closing the transaction, the insider’s holdings decreased to 7,500 shares, worth approximately $2.6 million.
As published in a research note from Raymond James on February 01, 2023, Moody’s Corporation [MCO] has been rated down from an Outperform to a Mkt perform. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early August. As of June 08, 2022, Atlantic Equities has decreased its “an Overweight” rating to a “Neutral” for MCO. Earlier on June 03, 2022, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for MCO stock which previously was a “an Overweight”.
Analyzing MCO Stock Performance
On Thursday, Moody’s Corporation [NYSE: MCO] rose 0.37% to $290.34. The stock’s lowest price that day was $284.80, but it reached a high of $290.61 in the same session. During the last five days, there has been a drop of approximately -1.39%. Over the course of the year, Moody’s Corporation shares have jumped approximately 4.21%. Shares of the company reached a 52-week high of $335.91 on 02/02/23 and a 52-week low of $274.80 on 01/03/23. A 50-day SMA is recorded $300.96, while a 200-day SMA reached $286.60. Nevertheless, trading volume fell to 0.75 million shares from 0.47 million shares the previous day.
Support And Resistance Levels for Moody’s Corporation (MCO)
According to the 24-hour chart, there is a support level at 286.56, which, if violated, would cause prices to drop to 282.77. In the upper region, resistance lies at 292.37. The next price resistance is at 294.39. RSI (Relative Strength Index) is 37.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.38, which suggests the price will decrease in the coming days. Percent R is at 81.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Moody’s Corporation subject to short interest?
Stocks of Moody’s Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.79 million shares to 2.75 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.54 million shares. A decline of -28.73% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.74 of the overall float, the days-to-cover ratio (short ratio) decline to 2.74.
Which companies own the most shares of Moody’s Corporation (MCO)?
According to Berkshire Hathaway, Inc. filings, the company currently owns 24,669,778 shares, which is about 13.47% of the total MCO shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $4,261,326,668. TCI Fund Management Ltd. acquire a 11.72% interest valued at $2.97 billion while BlackRock Fund Advisors sold a -154,560 stake. A total of -42,343 shares of Moody’s Corporation were sold by SSgA Funds Management, Inc. during the quarter, and 0 by Akre Capital Management LLC. In its current portfolio, Fiera Capital Corp. holds 5,286,851 shares valued at $1.71 billion.
In terms of Moody’s Corporation share price expectations, FactSet research, analysts set an average price target of $324.25 in the next 12 months, up nearly 15.46% from the previous closing price of $289.28. Analysts anticipate Moody’s Corporation stock to reach $360.00 by 2023, with the lowest price target being $270.00. In spite of this, 22 analysts ranked Moody’s Corporation stock as an Overweight at the end of 2023. On March 30, 2022, Deutsche Bank assigned a price target of “a Buy” to the stock and initiated coverage with a $408.