Moelis & Company (NYSE:MC) Position Cut by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its position in shares of Moelis & Company (NYSE:MC) by 28.0% during the second quarter, Holdings Channel reports. The institutional investor owned 407,461 shares of the asset manager’s stock after selling 158,614 shares during the period. Russell Investments Group Ltd.’s holdings in Moelis & were worth $15,831,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MC. State Street Corp increased its stake in shares of Moelis & by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock worth $11,038,000 after buying an additional 22,706 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Moelis & by 46.1% in the first quarter. Ameriprise Financial Inc. now owns 809,874 shares of the asset manager’s stock worth $31,182,000 after buying an additional 255,669 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Moelis & during the first quarter worth $39,733,000. James Investment Research Inc. bought a new stake in shares of Moelis & during the first quarter worth $2,082,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Moelis & by 150.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after buying an additional 81,877 shares in the last quarter. 90.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moelis & Company (NYSE MC) traded down 1.26% on Thursday, hitting $39.15. 84,092 shares of the stock traded hands. Moelis & Company has a 52-week low of $23.60 and a 52-week high of $44.85. The firm has a 50 day moving average price of $39.68 and a 200 day moving average price of $37.65. The firm has a market cap of $1.08 billion, a PE ratio of 18.11 and a beta of 1.87.
Moelis & (NYSE:MC) last released its earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. The firm had revenue of $172.10 million for the quarter, compared to the consensus estimate of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, equities analysts forecast that Moelis & Company will post $2.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, August 1st. Moelis &’s dividend payout ratio is currently 74.00%.
A number of equities research analysts recently weighed in on MC shares. Zacks Investment Research downgraded shares of Moelis & from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Keefe, Bruyette & Woods started coverage on shares of Moelis & in a research note on Friday, May 5th. They issued a “mkt perform” rating on the stock. ValuEngine raised shares of Moelis & from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Morgan Stanley raised their target price on shares of Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Finally, BidaskClub raised shares of Moelis & from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Moelis & has a consensus rating of “Buy” and an average target price of $39.22.
In other news, Chairman Kenneth Moelis sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total transaction of $561,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 64.47% of the company’s stock.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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