Moelis & Company (NYSE:MC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in Moelis & Company (NYSE:MC) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,022 shares of the asset manager’s stock after selling 207 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Moelis & Company were worth $1,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock worth $351,449,000 after acquiring an additional 28,446 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after buying an additional 159,797 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after buying an additional 334,620 shares during the period. Madison Asset Management LLC lifted its holdings in Moelis & Company by 4.5% in the fourth quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock valued at $78,562,000 after acquiring an additional 60,455 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Moelis & Company by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 814,568 shares of the asset manager’s stock worth $45,722,000 after acquiring an additional 21,839 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Kenneth Moelis sold 40,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the completion of the sale, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Moelis & Company Trading Down 0.7 %

MC traded down $0.42 on Friday, hitting $56.84. 31,901 shares of the company were exchanged, compared to its average volume of 599,225. The firm has a 50-day moving average price of $54.45 and a two-hundred day moving average price of $54.63. Moelis & Company has a twelve month low of $38.58 and a twelve month high of $58.67.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. Sell-side analysts expect that Moelis & Company will post 1.29 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Friday, May 3rd. Moelis & Company’s dividend payout ratio (DPR) is -1,263.16%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. UBS Group increased their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.