Membership Collective Group (NYSE:MCG) Now Covered by Roth Capital

Roth Capital began coverage on shares of Membership Collective Group (NYSE:MCG – Get Rating) in a research note published on Wednesday morning, The Fly reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

A number of other brokerages have also recently commented on MCG. Bank of America cut Membership Collective Group from a buy rating to an underperform rating and lowered their target price for the company from $12.00 to $4.00 in a report on Tuesday, October 4th. Morgan Stanley began coverage on Membership Collective Group in a report on Monday, December 5th. They set an equal weight rating and a $4.50 target price for the company. HSBC decreased their price objective on Membership Collective Group to $7.00 in a research note on Thursday, October 20th. Citigroup decreased their price objective on Membership Collective Group from $11.00 to $9.00 in a research note on Monday, October 31st. Finally, JPMorgan Chase & Co. cut Membership Collective Group from an overweight rating to a neutral rating and decreased their price objective for the company from $9.00 to $7.00 in a research note on Thursday, November 17th. Two investment 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, the stock presently has a consensus rating of Hold and an average price target of $6.88.

Membership Collective Group Stock Up 5.1 %

Shares of NYSE:MCG opened at $5.36 on Wednesday. The business has a 50-day moving average price of $4.19 and a 200 day moving average price of $5.15. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 38.11. The company has a market capitalization of $313.13 million, a price-to-earnings ratio of -3.88 and a beta of 0.93. Membership Collective Group has a 12-month low of $3.08 and a 12-month high of $9.88.

Membership Collective Group (NYSE:MCG – Get Rating) last announced its earnings results on Wednesday, November 16th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.36). Membership Collective Group had a negative net margin of 31.14% and a negative return on equity of 264.62%. The firm had revenue of $266.05 million for the quarter, compared to analysts’ expectations of $271.13 million. Sell-side analysts expect that Membership Collective Group will post -1.41 EPS for the current year.

Insider Buying and Selling

In other Membership Collective Group news, Director Richard Caring bought 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The stock was purchased 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Membership Collective Group news, Director Richard Caring bought 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The stock was purchased 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Ein bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were acquired at an average price of $4.09 per share, with a total value of $409,000.00. Following the purchase, the director now owns 621,447 shares of the company’s stock, valued at $2,541,718.23. The disclosure for this purchase can be found here. Insiders acquired a total of 380,981 shares of company stock worth $1,433,125 over the last 90 days. 73.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Pelham Capital Ltd. increased its position in Membership Collective Group by 33.8% during 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 during the period. Bank of New York Mellon Corp increased its position in Membership Collective Group by 0.4% during the first 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 period. LPL Financial LLC acquired a new position in Membership Collective Group during the second quarter worth approximately $5,839,000. Vanguard Group Inc. increased its position in Membership Collective Group by 53.5% during the third quarter. Vanguard Group Inc. now owns 728,081 shares of the company’s stock worth $3,436,000 after buying an additional 253,617 shares during the period. Finally, Stormborn Capital Management LLC increased its position in Membership Collective Group by 7.4% during the third quarter. Stormborn Capital Management LLC now owns 510,251 shares of the company’s stock worth $2,408,000 after buying an additional 35,000 shares during the period. Institutional investors and hedge funds own 68.02% of the company’s stock.

About Membership Collective Group

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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.