Victory Capital Management Inc. Decreases Stock Holdings in Moelis & Company (NYSE:MC)

Victory Capital Management Inc. cut its stake in Moelis & Company (NYSE:MC) by 36.8% in the second quarter, HoldingsChannel.com reports. The fund owned 49,489 shares of the asset manager’s stock after selling 28,857 shares during the period. Victory Capital Management Inc.’s holdings in Moelis & Company were worth $2,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MC. Wasatch Advisors LP increased its position in Moelis & Company by 4.9% during the first quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after acquiring an additional 159,797 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after purchasing an additional 334,620 shares during the last quarter. Madison Asset Management LLC increased its position in shares of Moelis & Company by 4.5% during the 4th quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock valued at $78,562,000 after purchasing an additional 60,455 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Moelis & Company by 5.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after purchasing an additional 55,402 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Moelis & Company by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock worth $42,960,000 after buying an additional 29,532 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total value of $430,272.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the sale, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. The disclosure for this sale can be found here. Insiders have sold a total of 12,526 shares of company stock worth $830,133 over the last quarter. Insiders own 6.40% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC stock opened at $69.25 on Wednesday. The stock has a fifty day simple moving average of $64.53 and a two-hundred day simple moving average of $57.98. The firm has a market capitalization of $5.18 billion, a PE ratio of -364.47 and a beta of 1.33. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $70.06.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. On average, sell-side analysts forecast that Moelis & Company will post 1.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, August 5th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s payout ratio is currently -1,263.16%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group upped their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Morgan Stanley upped their price objective on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, Wells Fargo & Company started coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.33.

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.