Moelis & Co (NYSE:MC) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of Moelis & Co (NYSE:MC) by 52.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,170 shares of the asset manager’s stock after selling 42,650 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Moelis & Co worth $1,941,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in shares of Moelis & Co by 3.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 159,446 shares of the asset manager’s stock worth $7,734,000 after buying an additional 4,752 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Moelis & Co by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 18,252 shares of the asset manager’s stock worth $885,000 after buying an additional 1,106 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Moelis & Co by 54.4% during the fourth quarter. Meeder Asset Management Inc. now owns 7,982 shares of the asset manager’s stock worth $387,000 after buying an additional 2,813 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Moelis & Co by 17.5% during the fourth quarter. American Century Companies Inc. now owns 662,870 shares of the asset manager’s stock worth $32,149,000 after buying an additional 98,571 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Moelis & Co during the fourth quarter worth $553,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Shares of Moelis & Co traded down $0.05, hitting $65.90, during trading on Monday, MarketBeat Ratings reports. The company’s stock had a trading volume of 4,053 shares, compared to its average volume of 292,233. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 2.34 and a beta of 1.73. Moelis & Co has a 52 week low of $37.50 and a 52 week high of $66.00.

Moelis & Co (NYSE:MC) last posted its earnings results on Monday, April 23rd. The asset manager reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Moelis & Co had a net margin of 6.49% and a return on equity of 50.44%. The firm had revenue of $219.40 million for the quarter, compared to analysts’ expectations of $200.24 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 26.6% on a year-over-year basis. equities research analysts anticipate that Moelis & Co will post 2.75 EPS for the current year.

Several brokerages recently weighed in on MC. Buckingham Research boosted their price objective on shares of Moelis & Co from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, June 4th. Zacks Investment Research raised shares of Moelis & Co from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Wednesday, May 23rd. JMP Securities boosted their price objective on shares of Moelis & Co from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 24th. Finally, Morgan Stanley boosted their price objective on shares of Moelis & Co from $60.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Moelis & Co has a consensus rating of “Buy” and a consensus target price of $59.17.

In other Moelis & Co news, General Counsel Osamu R. Watanabe sold 2,311 shares of the company’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $53.76, for a total transaction of $124,239.36. Following the sale, the general counsel now owns 5,313 shares of the company’s stock, valued at $285,626.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Simon sold 1,263 shares of the company’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $56.72, for a total transaction of $71,637.36. Following the sale, the chief financial officer now directly owns 1,263 shares in the company, valued at approximately $71,637.36. The disclosure for this sale can be found here. In the last three months, insiders sold 199,704 shares of company stock worth $10,868,750. 29.91% of the stock is currently owned by insiders.

Moelis & Co Company Profile

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

Institutional Ownership by Quarter for Moelis & Co (NYSE:MC)

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