Membership Collective Group Inc. (NYSE:MCG) President Sells $242,006.16 in Stock

Membership Collective Group Inc. (NYSE:MCG – Get Rating) President Andrew Carnie sold 34,771 shares of the company's stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $6.96, for a total value of $242,006.16. Following the transaction, the president now directly owns 1,833,184 shares in the company, valued at $12,758,960.64. The sale was disclosed in a filing with the SEC, which is available through this link.

Membership Collective Group Stock Down 3.2 %

Shares of MCG stock opened at $6.65 on Friday. The stock's 50-day simple moving average is $7.38 and its 200-day simple moving average is $7.96. The company has a debt-to-equity ratio of 5.59, a quick ratio of 1.17 and a current ratio of 1.28. The firm has a market capitalization of $399.17 million and a PE ratio of -4.29. Membership Collective Group Inc. has a fifty-two week low of $5.71 and a fifty-two week high of $14.87.

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Membership Collective Group (NYSE:MCG – Get Rating) last issued its earnings results on Wednesday, May 18th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.11). Membership Collective Group had a negative return on equity of 1,577.30% and a negative net margin of 34.61%. The company had revenue of $192.01 million during the quarter, compared to analysts' expectations of $203.76 million. Equities analysts expect that Membership Collective Group Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCG. Citigroup reduced their target price on Membership Collective Group from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, March 28th. The Goldman Sachs Group cut their price objective on Membership Collective Group from $9.50 to $8.50 and set a "sell" rating on the stock in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.00.

Institutional Trading of Membership Collective Group

Hedge funds have recently modified their holdings of the stock. Northern Trust Corp boosted its stake in shares of Membership Collective Group by 29.9% in the fourth quarter. Northern Trust Corp now owns 69,509 shares of the company's stock worth $888,000 after buying an additional 16,010 shares during the last quarter. Lansdowne Partners UK LLP purchased a new stake in shares of Membership Collective Group in the fourth quarter worth about $32,455,000. Goldman Sachs Group Inc. purchased a new stake in shares of Membership Collective Group in the fourth quarter worth about $200,025,000. Alpha Paradigm Partners LLC boosted its stake in shares of Membership Collective Group by 64.3% in the fourth quarter. Alpha Paradigm Partners LLC now owns 32,903 shares of the company's stock worth $421,000 after buying an additional 12,879 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Membership Collective Group by 38.7% in the first quarter. Bank of America Corp DE now owns 68,449 shares of the company's stock worth $532,000 after buying an additional 19,113 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Membership Collective Group Company Profile

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Membership Collective Group Inc operates a global membership platform of physical and digital spaces that connects members worldwide. The company's members use the MCG platform to work and socialize, connect, create, and have fun. As of January 2, 2022, it served approximately 155,800 members through a portfolio of 33 Soho Houses, 9 Soho Works clubs, The Ned in London, Soho Home, and Scorpios Beach Club in Mykonos, as well as digital channels.

Further Reading

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