AGF Management Ltd. Cuts Holdings in Moody’s Corporation $MCO

AGF Management Ltd. lessened its position in shares of Moody’s Corporation (NYSE:MCO) by 9.2% in the third quarter, Holdings Channel.com reports. The fund owned 55,588 shares of the business services provider’s stock after selling 5,649 shares during the quarter. AGF Management Ltd.’s holdings in Moody’s were worth $26,487,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MCO. Rexford Capital Inc. acquired a new stake in Moody’s during the 2nd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Moody’s during the second quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in shares of Moody’s in the second quarter worth $28,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Moody’s in the 3rd quarter valued at $31,000. Finally, Salomon & Ludwin LLC acquired a new position in shares of Moody’s during the 3rd quarter valued at $38,000. 92.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCO. Morgan Stanley increased their price target on Moody’s from $520.00 to $526.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Daiwa Capital Markets upgraded Moody’s from a “neutral” rating to an “outperform” rating and raised their target price for the company from $500.00 to $590.00 in a report on Tuesday, January 13th. Raymond James Financial upgraded Moody’s from an “underperform” rating to a “market perform” rating in a report on Friday, October 17th. Mizuho lifted their price objective on shares of Moody’s from $539.00 to $550.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Evercore ISI upped their target price on shares of Moody’s from $540.00 to $620.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Moody’s has a consensus rating of “Moderate Buy” and a consensus target price of $560.94.

Moody’s Price Performance

Shares of MCO stock opened at $517.63 on Tuesday. The firm has a fifty day moving average of $510.45 and a two-hundred day moving average of $500.52. The firm has a market cap of $92.35 billion, a P/E ratio of 41.61, a P/E/G ratio of 2.38 and a beta of 1.44. Moody’s Corporation has a 1-year low of $378.71 and a 1-year high of $546.88. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84.

Moody’s 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.