SG Americas Securities LLC decreased its holdings in Moelis & Co (NYSE:MC) by 36.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,118 shares of the asset manager’s stock after selling 8,135 shares during the quarter. SG Americas Securities LLC’s holdings in Moelis & Co were worth $685,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Advisor Group Inc. bought a new position in shares of Moelis & Co during the 3rd quarter valued at approximately $138,000. Great West Life Assurance Co. Can grew its stake in shares of Moelis & Co by 69.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock valued at $152,000 after acquiring an additional 1,442 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Moelis & Co during the 3rd quarter valued at approximately $204,000. Macquarie Group Ltd. purchased a new position in Moelis & Co in the 3rd quarter worth approximately $220,000. Finally, Meeder Asset Management Inc. lifted its holdings in Moelis & Co by 54.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 5,169 shares of the asset manager’s stock worth $223,000 after purchasing an additional 1,815 shares in the last quarter. Institutional investors and hedge funds own 54.79% of the company’s stock.
In other Moelis & Co news, CEO Kenneth Moelis sold 49,116 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $50.00, for a total value of $2,455,800.00. Following the transaction, the chief executive officer now owns 98,232 shares of the company’s stock, valued at approximately $4,911,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman J Richard Leaman III sold 15,572 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $50.00, for a total value of $778,600.00. Following the completion of the transaction, the insider now directly owns 31,142 shares in the company, valued at approximately $1,557,100. The disclosure for this sale can be found here. Insiders sold a total of 138,393 shares of company stock worth $6,999,369 in the last ninety days. 52.64% of the stock is currently owned by corporate insiders.
Moelis & Co (NYSE:MC) last released its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.10. Moelis & Co had a return on equity of 47.12% and a net margin of 4.29%. The company had revenue of $169.17 million for the quarter, compared to analyst estimates of $160.22 million. During the same quarter in the prior year, the firm posted $0.66 EPS. Moelis & Co’s quarterly revenue was down 17.3% compared to the same quarter last year. equities analysts forecast that Moelis & Co will post 2.73 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Shareholders of record on Tuesday, February 20th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.57%. The ex-dividend date was Friday, February 16th. This is an increase from Moelis & Co’s previous quarterly dividend of $0.37. Moelis & Co’s dividend payout ratio is 237.98%.
A number of research firms recently commented on MC. ValuEngine raised Moelis & Co from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised Moelis & Co from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Wednesday, November 29th. Morgan Stanley upped their price objective on Moelis & Co from $49.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Bank of America upped their price objective on Moelis & Co from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Moelis & Co has an average rating of “Buy” and an average price target of $50.67.
Moelis & Co Profile
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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