Key Points
- Director Kenneth Shropshire sold 1,881 Moelis & Company shares at an average price of $69.06, generating $129,901.86 and reducing his direct ownership by 19.77% to 7,633 shares.
- Moelis reported quarterly EPS of $0.63, slightly above estimates, while revenue reached $409.39 million—up 12% year over year and ahead of expectations.
- The company declared a quarterly dividend of $0.65 per share, equivalent to an annualized $2.60 dividend and a 3.8% yield; analysts maintain an overall “Hold” rating with a $73.62 average price target.
Moelis & Company (NYSE:MC - Get Free Report) Director Kenneth Shropshire sold 1,881 shares of Moelis & Company stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total transaction of $129,901.86. Following the completion of the sale, the director directly owned 7,633 shares of the company's stock, valued at $527,134.98. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Moelis & Company Stock Performance
Shares of MC opened at $68.04 on Tuesday. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The company has a market capitalization of $5.33 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 0.90 and a beta of 1.84. The stock has a fifty day moving average of $67.17 and a two-hundred day moving average of $64.34.
Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $409.39 million for the quarter, compared to analysts' expectations of $387.27 million. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The business's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts forecast that Moelis & Company will post 3.09 earnings per share for the current fiscal year.
Moelis & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Moelis & Company's dividend payout ratio (DPR) is presently 90.59%.
Institutional Trading of Moelis & Company
A number of institutional investors and hedge funds have recently bought and sold shares of MC. Allied Private Wealth LLC purchased a new position in Moelis & Company in the second quarter valued at approximately $25,000. Root Financial Partners LLC grew its stake in Moelis & Company by 292.2% during the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager's stock worth $26,000 after buying an additional 339 shares during the period. Hantz Financial Services Inc. increased its position in shares of Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager's stock worth $29,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP increased its position in shares of Moelis & Company by 153.9% in the third quarter. Allworth Financial LP now owns 419 shares of the asset manager's stock worth $30,000 after acquiring an additional 254 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Moelis & Company by 89.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager's stock valued at $37,000 after acquiring an additional 282 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on MC shares. UBS Group reiterated a "sell" rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Moelis & Company in a research report on Friday, August 21st. Keefe, Bruyette & Woods cut their price target on shares of Moelis & Company from $69.00 to $66.00 and set a "market perform" rating on the stock in a research note on Friday, July 10th. Morgan Stanley lifted their price target on shares of Moelis & Company from $83.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Moelis & Company from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Moelis & Company presently has an average rating of "Hold" and an average target price of $73.62.
Read Our Latest Stock Report on MC
Moelis & Company Company Profile
(
Get Free Report)
Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.
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