Investment

Zacks Investment Research Upgrades Membership Collective Group (NYSE:MCG) to Hold


Membership Collective Group (NYSE:MCG – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “The Membership Collective Group provides global membership platform of physical and digital spaces which connects a vibrant, diverse and global group of members. The members use the MCG platform to work, socialize, connect, create and flourish all over the world. The Membership Collective Group is based in London, the United Kingdom. “

Other equities analysts also recently issued research reports about the company. Citigroup cut their price objective 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. Morgan Stanley cut their price target on Membership Collective Group from $16.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. The Goldman Sachs Group lowered their price objective on shares of Membership Collective Group from $9.50 to $8.50 and set a “sell” rating for the company in a research note on Tuesday, May 24th. Finally, Loop Capital cut their target price on shares of Membership Collective Group from $14.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $13.00.

Shares of Membership Collective Group stock opened at $9.16 on Tuesday. The stock’s fifty day moving average is $7.68 and its two-hundred day moving average is $9.36. The company has a market capitalization of $563.68 million and a PE ratio of -5.91. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 5.59. Membership Collective Group has a 52 week low of $5.96 and a 52 week high of $14.87.

Membership Collective Group (NYSE:MCG – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The business had revenue of $192.01 million during the quarter, compared to the consensus estimate of $203.76 million. Membership Collective Group had a negative net margin of 34.61% and a negative return on equity of 1,577.30%. As a group, research analysts anticipate that Membership Collective Group will post -0.56 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in Membership Collective Group in the fourth quarter worth approximately $200,025,000. Pelham Capital Ltd. raised its stake in Membership Collective Group by 33.8% in the first quarter. Pelham Capital Ltd. now owns 8,516,473 shares of the company’s stock worth $66,088,000 after buying an additional 2,151,967 shares in the last quarter. Bamco Inc. NY bought a new position in Membership Collective Group in the third quarter worth approximately $50,144,000. Third Point LLC purchased a new position in Membership Collective Group in the third quarter worth $46,650,000. Finally, Bank of New York Mellon Corp purchased a new position in Membership Collective Group in the third quarter worth $40,613,000. 71.84% of the stock is owned by institutional investors.

Membership Collective Group Company Profile (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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Analyst Recommendations for Membership Collective Group (NYSE:MCG)



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