Moody's Receives Outperform Rating from Evercore ISI Group

Evercore ISI Group has initiated coverage on Moody's with an Outperform recommendation, suggesting a positive outlook. Institutional ownership has increased, indicating investor confidence, which could lift stock prices moving forward.

Date: 03-10-2024

AI Rating: 7

According to a report, Evercore ISI Group has initiated coverage of Moody's with an Outperform recommendation, signaling a positive sentiment toward the stock's future performance. This endorsement from a reputable investment group could attract more investors, thus potentially driving up the stock price.

Additionally, there are currently 2,009 funds reported as holding positions in Moody's. The number of owners increased by 1.06% in the last quarter, demonstrating growing interest in the company. This influx of institutional investment is further confirmed by the average portfolio weight dedicated to Moody's, which rose to 0.45%, up 3.45% from previous levels. Moreover, total shares owned by institutions saw an uptick of 5.81% over the last three months, reaching 182,151K shares.

Among significant institutional shareholders, Berkshire Hathaway holds 24,670K shares (13.55% ownership) with no change, while TCI Fund Management increased its holdings from 12,199K to 13,247K shares, marking a notable increase of 7.91%. Other firms such as Vanguard also reported incremental increases in their allocations, indicating overall positive sentiment from institutional investors.

This data reflects strong institutional confidence in Moody's, which could lead to upward pressure on the stock price. As more funds show interest and increase their holdings, it likely enhances the stock's attractiveness for retail investors as well. Overall, the synthesis of an Outperform rating and increasing fund sentiment positions Moody's favorably in the market, contributing to a potentially bullish outlook for its stock.

Stocks: MCO