Amalgamated Bank Has $1.22 Million Stock Holdings in Moelis & Company (NYSE:MC)

Amalgamated Bank raised its stake in Moelis & Company (NYSE:MC) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,373 shares of the asset manager’s stock after purchasing an additional 535 shares during the period. Amalgamated Bank’s holdings in Moelis & Company were worth $1,215,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP boosted its holdings in shares of Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after buying an additional 159,797 shares during the period. Goldman Sachs Group Inc. raised its holdings in Moelis & Company by 11.0% in 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 acquiring an additional 334,620 shares during the period. Madison Asset Management LLC lifted its position in Moelis & Company by 4.5% during the fourth quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock worth $78,562,000 after acquiring an additional 60,455 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Moelis & Company by 5.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after acquiring an additional 55,402 shares during the period. Finally, Bank of New York Mellon Corp grew its position 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 valued at $42,960,000 after purchasing an additional 29,532 shares during the last quarter. 91.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MC shares. JPMorgan Chase & Co. lifted their price target on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report 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. UBS Group upped their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Finally, Wells Fargo & Company initiated coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.33.

Insider Activity

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

Moelis & Company Stock Down 0.3 %

MC opened at $69.21 on Friday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of -364.26 and a beta of 1.33. Moelis & Company has a twelve month low of $38.58 and a twelve month high of $71.34. The company has a 50-day simple moving average of $65.47 and a 200 day simple moving average of $58.75.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results 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 company had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. Sell-side analysts anticipate that Moelis & Company will post 1.08 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Monday, August 5th. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

About Moelis & Company

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.