Robert Fauber, President and CEO of Moody's Corporation (NYSE:MCO), recently sold shares totaling $140,362, according to a recent SEC filing. This transaction involved the sale of 281 shares at a price of $499.51 each. Following this sale, Fauber's direct ownership amounts to 61,354.364 shares. The sale comes as Moody's, with its $89.6 billion market cap, trades near its 52-week high of $503.94. According to InvestingPro analysis, the stock appears overvalued at current levels, with a P/E ratio of 45.
Additionally, Fauber acquired shares through several transactions, with a total value of $27,459. These acquisitions were made at prices ranging from $80.81 to $113.34 per share. These transactions were part of a Rule 10b5-1 plan adopted by Fauber on July 30, 2024. The company has demonstrated strong performance, with a year-to-date return of 28.4%. For deeper insights into Moody's valuation and 10+ additional ProTips, access the comprehensive research report available on InvestingPro.
In other recent news, Moody's Corporation has reported robust financial results with a 23% increase in revenue, reaching $1.8 billion, and a 32% rise in adjusted diluted earnings per share in the third quarter of 2024. This growth was largely driven by the ratings business and transactional revenue, which surged by 70%. Moody's has also expanded its lending suite with the acquisition of Numerated Growth Technologies, a loan origination platform for financial institutions.
Baird has raised the price target for Moody's from $490 to $512, maintaining an outperform rating. The decision was influenced by Moody's Investor Service's excellent performance in the third quarter. On the other hand, RBC Capital Markets has outlined a positive outlook for the Information and Commercial Services sector heading into 2025, which includes Moody's Corporation.
Despite several challenges, Moody's maintains a robust financial position with a healthy current ratio of 1.67 and strong profitability metrics. Moody's full-year ratings revenue growth guidance has been raised to the mid-30s percentage range, and adjusted operating margin expectations for the year are now set at 59-60%. These are among the recent developments shaping the company's trajectory.
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