Moelis & Company (NYSE:MC) Position Lessened by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Moelis & Company (NYSE:MC) by 23.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,359 shares of the asset manager’s stock after selling 3,110 shares during the quarter. ProShare Advisors LLC’s holdings in Moelis & Company were worth $589,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Moelis & Company by 0.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock valued at $408,836,000 after buying an additional 47,365 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of 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 purchasing an additional 159,797 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Moelis & Company by 11.0% during the fourth 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 in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Moelis & Company by 5.2% in the first 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 lifted its holdings in 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 purchasing an additional 29,532 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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. Insiders have sold a total of 12,526 shares of company stock worth $830,133 in the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. UBS Group increased their price target on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Morgan Stanley boosted their price objective on Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.33.

Moelis & Company Trading Down 0.4 %

Shares of MC opened at $68.93 on Monday. The business’s 50-day moving average price is $65.56 and its 200 day moving average price is $58.94. The stock has a market capitalization of $5.16 billion, a P/E ratio of -362.79 and a beta of 1.33. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $71.34.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating 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 net margin of 1.38% and a return on equity of 4.38%. The firm’s revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.04) earnings per share. On average, research analysts predict that Moelis & Company will post 1.08 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is currently -1,263.16%.

Moelis & 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.