Moelis & Company (NYSE:MC) Releases Earnings Results

Moelis & Company (NYSE:MC) released its quarterly earnings data on Wednesday. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11, Briefing.com reports. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The business had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. During the same quarter last year, the business posted $0.05 EPS. The company’s revenue was up 17.4% on a year-over-year basis.

Moelis & Company Stock Performance

Shares of Moelis & Company stock traded down $4.69 during trading hours on Thursday, reaching $49.30. 817,045 shares of the company were exchanged, compared to its average volume of 631,242. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67. The stock’s fifty day moving average is $54.31 and its 200 day moving average is $51.51. The firm has a market cap of $3.51 billion, a PE ratio of -138.08 and a beta of 1.35.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, February 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio is currently -666.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MC shares. JPMorgan Chase & Co. lifted their price target on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $50.80.

Insider Transactions at Moelis & Company

In related news, CEO Kenneth Moelis sold 128,277 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the transaction, the chief executive officer now owns 161,810 shares of the company’s stock, valued at $8,511,206. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kenneth Moelis sold 128,277 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the transaction, the chief executive officer now owns 161,810 shares of the company’s stock, valued at $8,511,206. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Navid Mahmoodzadegan sold 50,772 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.11, for a total transaction of $2,747,272.92. Following the completion of the transaction, the insider now owns 64,463 shares of the company’s stock, valued at approximately $3,488,092.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is currently owned by company insiders.

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.