Membership Collective Group (NYSE:MCG – Get Rating) released its earnings results on Wednesday. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11), reports. The company had revenue of $192.01 million for the quarter, compared to the consensus estimate of $203.76 million. Membership Collective Group updated its FY 2022 guidance to EPS.
NYSE:MCG traded down $0.26 during trading hours on Friday, hitting $7.86. The stock had a trading volume of 160,669 shares, compared to its average volume of 353,590. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 3.55. Membership Collective Group has a 1-year low of $5.96 and a 1-year high of $14.87. The business has a 50 day simple moving average of $7.57 and a two-hundred day simple moving average of $9.51. The company has a market cap of $483.68 million and a PE ratio of -5.07.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its holdings in Membership Collective Group by 4.9% during the first quarter. Swiss National Bank now owns 72,200 shares of the company’s stock worth $560,000 after acquiring an additional 3,400 shares during the period. BlackRock Inc. boosted its position in Membership Collective Group by 1.7% during the 1st quarter. BlackRock Inc. now owns 260,870 shares of the company’s stock worth $2,025,000 after acquiring an additional 4,380 shares during the period. Legal & General Group Plc acquired a new stake in Membership Collective Group during the 4th quarter worth about $95,000. State Street Corp lifted its holdings in shares of Membership Collective Group by 9.6% during the 1st quarter. State Street Corp now owns 127,929 shares of the company’s stock valued at $993,000 after buying an additional 11,212 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Membership Collective Group during the 1st quarter valued at about $91,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.
MCG has been the topic of a number of research reports. The Goldman Sachs Group reduced their target price on shares of Membership Collective Group from $13.00 to $9.50 and set a “sell” rating on the stock in a report on Tuesday, March 22nd. Citigroup lowered their price target on shares of Membership Collective Group from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, March 28th. Morgan Stanley reduced their price objective on shares of Membership Collective Group from $16.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, March 17th. Loop Capital reduced their price objective on shares of Membership Collective Group from $14.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, March 21st. Finally, Zacks Investment Research upgraded shares of Membership Collective Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $13.14.
About Membership Collective Group (Get Rating)
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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