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2023-01-31 14:10
Shares of Membership Collective Group Inc. (NYSE:MCG – Get Rating) have been given a consensus recommendation of "Hold" by the eight research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $6.88.
Several analysts have recently issued reports on MCG shares. HSBC dropped their target price on shares of Membership Collective Group to $7.00 in a research report on Thursday, October 20th. JPMorgan Chase & Co. lowered shares of Membership Collective Group from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $9.00 to $7.00 in a research report on Thursday, November 17th. Citigroup lowered their price target on shares of Membership Collective Group from $11.00 to $9.00 in a research report on Monday, October 31st. Roth Capital started coverage on shares of Membership Collective Group in a research report on Wednesday, January 18th. They set a "buy" rating and a $7.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Membership Collective Group in a research report on Monday, December 5th. They set an "equal weight" rating and a $4.50 price target on the stock.
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In other Membership Collective Group news, Director Richard Caring acquired 8,000 shares of the company's stock in a transaction that occurred on Wednesday, December 7th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $29,120.00. Following the completion of the acquisition, the director now owns 40,281 shares of the company's stock, valued at approximately $146,622.84. In other Membership Collective Group news, Director Richard Caring acquired 8,000 shares of the company's stock in a transaction that occurred on Wednesday, December 7th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $29,120.00. Following the completion of the acquisition, the director now owns 40,281 shares of the company's stock, valued at approximately $146,622.84.Also, Director Mark Ein purchased 100,000 shares of the stock in a transaction on Friday, December 9th. The shares were purchased at an average price of $4.09 per share, with a total value of $409,000.00. Following the acquisition, the director now directly owns 621,447 shares in the company, valued at $2,541,718.23. In the last three months, insiders have purchased 380,981 shares of company stock valued at $1,433,125. Company insiders own 73.00% of the company's stock.
Large investors have recently modified their holdings of the stock. Natixis Investment Managers International acquired a new position in shares of Membership Collective Group in the 2nd quarter valued at $33,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Membership Collective Group in the 3rd quarter valued at $40,000. Ensign Peak Advisors Inc purchased a new stake in Membership Collective Group in the 3rd quarter valued at $63,000. Cubist Systematic Strategies LLC purchased a new stake in Membership Collective Group in the 3rd quarter valued at $63,000. Finally, Virtu Financial LLC purchased a new stake in Membership Collective Group in the 1st quarter valued at $91,000. Institutional investors and hedge funds own 68.02% of the company's stock.
NYSE MCG opened at $4.73 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 38.11. The company has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $5.08. Membership Collective Group has a 12-month low of $3.08 and a 12-month high of $9.84. The stock has a market cap of $276.33 million, a P/E ratio of -3.43 and a beta of 0.93.
Membership Collective Group (NYSE:MCG – Get Rating) last announced its earnings results on Wednesday, November 16th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.36). Membership Collective Group had a negative net margin of 31.14% and a negative return on equity of 264.62%. The company had revenue of $266.05 million during the quarter, compared to analyst estimates of $271.13 million. On average, analysts forecast that Membership Collective Group will post -1.39 earnings per share for the current year.
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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.