Kenneth Moelis Sells 5,308 Shares of Moelis & Company (NYSE:MC) Stock

Moelis & Company (NYSE:MC) CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Kenneth Moelis also recently made the following trade(s):

• On Thursday, May 9th, Kenneth Moelis sold 40,000 shares of Moelis & Company stock. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00.

Moelis & Company Price Performance

MC stock opened at $62.22 on Monday. The business’s 50-day moving average is $58.52 and its two-hundred day moving average is $55.85. The firm has a market capitalization of $4.65 billion, a P/E ratio of -327.47 and a beta of 1.34. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $70.00.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, analysts expect that Moelis & Company will post 1.08 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, August 5th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.86%. Moelis & Company’s payout ratio is -1,263.16%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MC shares. Morgan Stanley upped their price target on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, UBS Group raised their price objective on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.00.

Hedge Funds Weigh In On Moelis & Company

Institutional investors and hedge funds have recently modified their holdings of the company. UMB Bank n.a. raised its stake in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Moelis & Company in the 4th quarter valued at about $34,000. Hexagon Capital Partners LLC increased its holdings in shares of Moelis & Company by 147.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Moelis & Company by 510.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after acquiring an additional 699 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Moelis & Company by 22.5% during the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Moelis & Company

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.