Kenneth Moelis Sells 40,800 Shares of Moelis & Company (MC) Stock
Moelis & Company (NYSE:MC) Chairman Kenneth Moelis sold 40,800 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $42.66, for a total transaction of $1,740,528.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Kenneth Moelis also recently made the following trade(s):
- On Friday, October 27th, Kenneth Moelis sold 9,500 shares of Moelis & stock. The stock was sold at an average price of $42.41, for a total transaction of $402,895.00.
Moelis & (NYSE:MC) last announced its earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.15. The business had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & had a net margin of 9.62% and a return on equity of 56.83%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.46%. Moelis &’s dividend payout ratio (DPR) is presently 70.81%.
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A number of equities research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Moelis & from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Morgan Stanley raised their price objective on shares of Moelis & from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. UBS AG raised their price objective on shares of Moelis & from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Bank of America Corporation raised their price objective on shares of Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research lowered shares of Moelis & from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.00.
Several hedge funds have recently made changes to their positions in MC. Ffcm LLC purchased a new position in shares of Moelis & in the second quarter valued at $112,000. BNP Paribas Arbitrage SA raised its holdings in Moelis & by 594.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock valued at $116,000 after acquiring an additional 2,549 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock valued at $117,000 after acquiring an additional 315 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Moelis & in the second quarter valued at $130,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Moelis & in the second quarter valued at $144,000. Institutional investors and hedge funds own 90.80% 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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