Richard Caring Acquires 2,000 Shares of Membership Collective Group Inc. (NYSE:MCG) Stock

Sat., March 18, 2023 | MarketBeat

Membership Collective Group Inc. (NYSE:MCG - Get Rating) Director Richard Caring bought 2,000 shares of Membership Collective Group stock in a transaction dated Wednesday, March 15th. The stock was acquired at an average cost of $6.03 per share, for a total transaction of $12,060.00. Following the completion of the acquisition, the director now directly owns 357,521 shares in 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 website.

Richard Caring also recently made the following trade(s):

On Friday, December 23rd, Richard Caring acquired 200,000 shares of Membership Collective Group stock. The shares were purchased at an average cost of $3.60 per share, for a total transaction of $720,000.00.
On Wednesday, December 21st, Richard Caring bought 50,000 shares of Membership Collective Group stock. The shares were acquired at an average price of $3.68 per share, with a total value of $184,000.00.

Membership Collective Group Stock Down 0.6 %

NYSE MCG traded down $0.04 on Friday, reaching $6.58. The company had a trading volume of 235,874 shares, compared to its average volume of 335,221. The company's fifty 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 debt-to-equity ratio of 38.11, a quick ratio of 0.82 and a current ratio of 0.96. The firm has a market capitalization of $384.40 million, a price-to-earnings ratio of -5.11 and a beta of 1.23.

Hedge Funds Weigh In On Membership Collective Group

A number of large investors have recently modified their holdings of the business. Pelham Capital Ltd. boosted its stake in shares of Membership Collective Group by 33.8% during the 1st 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 during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Membership Collective Group by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,204,246 shares of the company's stock worth $24,864,000 after buying an additional 13,942 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Membership Collective Group by 16.7% during the 4th quarter. LPL Financial LLC now owns 1,212,310 shares of the company's stock worth $4,534,000 after buying an additional 173,854 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Membership Collective Group by 275.2% during the 4th quarter. Marshall Wace LLP now owns 1,151,177 shares of the company's stock worth $4,305,000 after buying an additional 844,326 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Membership Collective Group by 62.6% during the 4th quarter. Millennium Management LLC now owns 1,025,244 shares of the company's stock worth $3,834,000 after buying an additional 394,745 shares during the last quarter. 68.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Roth Capital assumed coverage on shares of Membership Collective Group in a research report on Wednesday, January 18th. They issued a "buy" rating and a $7.00 price objective for the company. JPMorgan Chase & Co. cut shares of Membership Collective Group from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $9.00 to $7.00 in a research report on Thursday, November 17th. Morgan Stanley upped their price objective on shares of Membership Collective Group from $4.50 to $6.00 and gave the company an "equal weight" rating in a research report on Friday, March 10th. Finally, Citigroup upped their target price on shares of Membership Collective Group from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, March 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Membership Collective Group has an average rating of "Hold" and an average target price of $7.19.

Membership Collective Group Company Profile

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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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