Membership Collective Group Inc. (NYSE:MCG – Get Rating) director Richard Caring purchased 2,000 shares of Membership Collective Group stock in a transaction on Wednesday, March 15. The shares were acquired at an average price of $6.03 per share for a total transaction of $12,060.00. Upon completion of the acquisition, the Director now directly owns 357,521 shares of the Company, valued at $2,155,851.63. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website.
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Richard Caring also recently made the following trades:
- On Friday, December 23, Richard Caring purchased 200,000 shares of Membership Collective Group. The shares were purchased at an average price of $3.60 per share for a total transaction of $720,000.00.
- On Wednesday, December 21, Richard Caring bought 50,000 shares of Membership Collective Group. The shares were purchased at an average price of $3.68 per share for a total value of $184,000.00.
Membership Collective group stock decreased by 0.6%
NYSE MCG traded down $0.04 on Friday to hit $6.58. The company had a trading volume of 235,874 shares compared to an average volume of 335,221. The company’s 50-day moving average is $5.88 and its 200-day moving average is $4.96. Membership Collective Group Inc. has a 1 year low of $3.08 and a 1 year high of $9.63. The company has a gearing ratio of 38.11, a quick ratio of 0.82 and a current ratio of 0.96. The company has a market cap of $384.40 million, a price-to-earnings ratio of -5.11 and a beta of 1.23.
Hedge funds complain about membership in a collective group
A number of major investors recently changed their stakes in the company. Pelham Capital Ltd. increased its stake in Membership Collective Group shares by 33.8% in the first quarter. Pelham Capital Ltd. now owns 8,516,473 shares of the company’s shares valued at $66,088,000 after purchasing an additional 2,151,967 shares last quarter. Bank of New York Mellon Corp increased its stake in Membership Collective Group shares by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 3,204,246 shares of the company’s stock valued at $24,864,000 after purchasing an additional 13,942 shares last quarter. LPL Financial LLC increased its stake in Membership Collective Group shares by 16.7% during the fourth quarter. LPL Financial LLC now owns 1,212,310 shares of the company’s stock valued at $4,534,000 after purchasing an additional 173,854 shares last quarter. Marshall Wace LLP increased its stake in Membership Collective Group shares by 275.2% during the fourth quarter. Marshall Wace LLP now owns 1,151,177 shares of the company’s stock valued at $4,305,000 after purchasing an additional 844,326 shares last quarter. Finally, Millennium Management LLC increased its stake in Membership Collective Group stock by 62.6% during the fourth quarter. Millennium Management LLC now owns 1,025,244 shares of the company’s stock valued at $3,834,000 after purchasing an additional 394,745 shares last quarter. 68.02% of the shares are currently owned by institutional investors and hedge funds.
Wall Street analyst ponders
A number of analysts recently commented on the stock. Roth Capital took over coverage on Membership Collective Group shares in a research report on Wednesday, January 18th. They issued a buy rating and a price target of $7.00 on the company. JPMorgan Chase & Co. cut shares of Membership Collective Group from an “overweight” rating to a “neutral” rating and lowered its price target on the company to $7.00 from $9.00 in a research note on Thursday, November th . Morgan Stanley raised its price target on Membership Collective Group shares to $6.00 from $4.50 and rated the company as “equal weight” in a research report on Friday, March 10. Finally, Citigroup raised its price target on Membership Collective Group stock to $10.00 from $9.00 and issued a research note on Thursday, March 9th, with a “buy” rating of the stock. Two research analysts have rated the stock with a sell rating, three with a hold rating and two with a buy rating. Based on data from MarketBeat.com, the Membership Collective Group has an average rating of Hold and an average price target of $7.19.
Membership Collective Group Company Profile
(received rating)
Membership Collective Group Inc operates a global membership platform with physical and digital spaces that connects members worldwide. Company members use the MCG platform to work and socialize, to socialize, to be creative and to have fun. As of 2 January 2022, it served around 155,800 members through a portfolio of 33 Soho Houses, 9 Soho Works Clubs, The Ned in London, Soho Home and Scorpios Beach Club on Mykonos, as well as digital channels.
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