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Moody's analytics president sells $232k in company stock

Published 12/08/2024, 21:50

MCO
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Moody's Corporation (NYSE:MCO) has reported a recent stock transaction involving Stephen T. Tulenko, the President of Moody's Analytics. According to the latest filing, Tulenko sold 500 shares of Moody's common stock at a price of $464.06 per share, totaling approximately $232,030.

The transaction took place on August 9, 2024, and was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC). Following the sale, Tulenko's direct ownership in the company stands at 6,646.693 shares.

Investors often monitor insider transactions as they can provide insights into the company's performance and executives' confidence in the firm's prospects. The sale by a high-ranking executive like Tulenko may attract the attention of the market, but it's important to note that insider selling can occur for various reasons and does not necessarily indicate a negative outlook on the company.

Moody's Corporation, known for its credit ratings, research, and risk analysis services, has not provided any specific reason for Tulenko's stock sale. The transaction was signed off by Elizabeth McCarroll, by the power of attorney for Stephen T. Tulenko, indicating that the sale was pre-planned.

Investors and stakeholders in Moody's Corporation can access the full details of the sale through the SEC's filing system, which provides transparency on the trading activities of company insiders.

In other recent news, Moody's Corporation has had a series of notable developments. The company announced a $500 million senior notes offering in partnership with underwriters such as BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities. This move aims to strengthen Moody's financial structure and support its various business operations.

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In addition, Moody's reported a strong financial performance for the second quarter of 2024, with significant growth in revenue and adjusted operating margin. The Investor Services division saw a 36% increase in revenue, while the Analytics segment posted an 8% growth. Following the strong performance, Moody's increased its financial guidance for the year.

Various analysts have adjusted their outlook on Moody's, with Argus Research raising the price target to $490 and maintaining a Buy rating. Similarly, Oppenheimer increased its price target to $492, and RBC Capital Markets raised its price target to $475, both maintaining an Outperform rating on the stock.

Lastly, Moody's has formed strategic partnerships with MSCI, Zillow (NASDAQ:ZG), Google (NASDAQ:GOOGL), and Diligent to enhance its market presence and product offerings. These recent developments highlight Moody's potential to capitalize on market opportunities and deliver sustained financial growth.

InvestingPro Insights

Amid the news of Stephen T. Tulenko's stock sale, Moody's Corporation (NYSE:MCO) continues to exhibit financial strength and market confidence. According to InvestingPro data, Moody's boasts a robust market capitalization of $83.8 billion, reflecting the substantial size and stability of the company in the financial information services industry.

The company's recent performance metrics are also noteworthy, with a significant revenue growth of 18.56% over the last twelve months as of Q2 2024. This growth is further underscored by a strong gross profit margin of 73.01%, showcasing Moody's ability to maintain profitability and efficiency in its operations.

InvestingPro Tips highlight that Moody's has raised its dividend for 14 consecutive years and maintained dividend payments for 27 consecutive years, emphasizing a commitment to returning value to shareholders. Moreover, analysts have revised their earnings upwards for the upcoming period, which could signal positive investor sentiment and potential for continued financial success. These factors, coupled with the company's impressive track record of profitability over the last twelve months and a high return over the last decade, could provide investors with reassurance despite insider trading activities.

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For those interested in deeper analysis and additional insights, Moody's Corporation has a total of 13 InvestingPro Tips available, which can be accessed through the dedicated InvestingPro platform at https://www.investing.com/pro/MCO.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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