Moelis & Company (NYSE:MC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Moelis & Company (NYSE:MC) by 36.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,451 shares of the asset manager’s stock after selling 18,981 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Moelis & Company were worth $1,902,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MC. UMB Bank n.a. raised its position in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares during the last quarter. Peak Financial Advisors LLC lifted its position in Moelis & Company by 2.9% in the first quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock valued at $495,000 after purchasing an additional 245 shares during the period. Assetmark Inc. boosted its holdings in Moelis & Company by 22.5% in the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 276 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in Moelis & Company by 3.3% in the 2nd quarter. Naples Global Advisors LLC now owns 10,171 shares of the asset manager’s stock valued at $578,000 after purchasing an additional 325 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Moelis & Company by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 18,666 shares of the asset manager’s stock worth $1,061,000 after purchasing an additional 345 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Price Performance

Shares of NYSE MC opened at $70.17 on Monday. The firm’s 50-day moving average is $65.13 and its two-hundred day moving average is $58.36. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $70.82. The company has a market capitalization of $5.25 billion, a PE ratio of -369.32 and a beta of 1.33.

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

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Activity at Moelis & Company

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. In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total value of $430,272.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley increased their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. UBS Group boosted their price objective on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. 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 price target on the stock. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price 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.