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2023-03-09 01:23
Membership Collective Group Inc. (NYSE:MCG – Get Rating) was the target of some unusual options trading on Wednesday. Investors purchased 7,678 call options on the stock. This represents an increase of approximately 2,369% compared to the average daily volume of 311 call options.
Shares of MCG traded up $1.06 during trading hours on Wednesday, hitting $7.32. The company had a trading volume of 768,059 shares, compared to its average volume of 319,697. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 38.11. Membership Collective Group has a one year low of $3.08 and a one year high of $9.63. The company's fifty day moving average price is $5.52 and its two-hundred day moving average price is $4.94.
Get Membership Collective Group alerts:MCG has been the topic of several research analyst reports. JPMorgan Chase & Co. cut Membership Collective Group from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $9.00 to $7.00 in a research note on Thursday, November 17th. Morgan Stanley started coverage on Membership Collective Group in a research note on Monday, December 5th. They set an "equal weight" rating and a $4.50 price target on the stock. Finally, Roth Capital began coverage on shares of Membership Collective Group in a research note on Wednesday, January 18th. They issued a "buy" rating and a $7.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Membership Collective Group currently has a consensus rating of "Hold" and a consensus price target of $6.88.
In other Membership Collective Group news, Director Richard Caring purchased 200,000 shares of the firm's stock in a transaction that occurred on Friday, December 23rd. The stock was purchased at an average cost of $3.60 per share, with a total value of $720,000.00. Following the purchase, the director now owns 350,021 shares of the company's stock, valued at $1,260,075.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Ein acquired 100,000 shares of the stock in a transaction on Friday, December 9th. The stock was bought at an average cost of $4.09 per share, with a total value of $409,000.00. Following the transaction, the director now directly owns 621,447 shares in the company, valued at $2,541,718.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Caring bought 200,000 shares of the company's stock in a transaction on Friday, December 23rd. The stock was bought at an average price of $3.60 per share, for a total transaction of $720,000.00. Following the completion of the purchase, the director now directly owns 350,021 shares in the company, valued at $1,260,075.60. The disclosure for this purchase can be found here. Insiders acquired 350,000 shares of company stock worth $1,313,000 over the last 90 days. Company insiders own 73.00% of the company's stock.
Several large investors have recently modified their holdings of MCG. Natixis Investment Managers International purchased a new position in Membership Collective Group in the second quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Membership Collective Group in the 3rd quarter worth $40,000. Dark Forest Capital Management LP purchased a new position in Membership Collective Group during the 4th quarter worth $37,000. Virtu Financial LLC acquired a new position in Membership Collective Group during the 1st quarter valued at about $91,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Membership Collective Group in the third quarter valued at about $63,000. Institutional investors own 68.02% of the company's stock.
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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.
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