Creative Planning Reduces Stake in Moelis & Company (NYSE:MC)

Creative Planning lowered its holdings in Moelis & Company (NYSE:MC) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,872 shares of the asset manager’s stock after selling 355 shares during the quarter. Creative Planning’s holdings in Moelis & Company were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 193 shares during the period. Hexagon Capital Partners LLC lifted its stake 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 purchasing an additional 392 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 699 shares during the period. Headlands Technologies LLC purchased a new position in shares of Moelis & Company in the 2nd quarter valued at approximately $113,000. Finally, nVerses Capital LLC lifted its stake in shares of Moelis & Company by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

MC opened at $71.90 on Friday. Moelis & Company has a one year low of $38.58 and a one year high of $72.80. The stock has a market capitalization of $5.38 billion, a PE ratio of -378.42 and a beta of 1.33. The business’s 50 day moving average price is $66.76 and its 200 day moving average price is $60.16.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $264.59 million for the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The company’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. As a group, equities research analysts forecast that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 5th. This represents a $2.40 annualized dividend and a dividend yield of 3.34%. Moelis & Company’s dividend payout ratio (DPR) is -1,263.16%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Morgan Stanley lifted their target price on Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. UBS Group lifted their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.00.

Insider Buying and Selling

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the completion of the transaction, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,526 shares of company stock valued at $830,133 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Moelis & Company Company Profile

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.