Moelis & Company (NYSE:MC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in shares of Moelis & Company (NYSE:MC) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,229 shares of the asset manager’s stock after selling 292 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Moelis & Company were worth $1,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock valued at $351,449,000 after acquiring an additional 28,446 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Moelis & Company by 0.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,279,209 shares of the asset manager’s stock worth $328,511,000 after buying an additional 49,291 shares during the period. HighTower Advisors LLC lifted its holdings in Moelis & Company by 3.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,111,200 shares of the asset manager’s stock worth $50,144,000 after buying an additional 34,740 shares in the last quarter. Northern Trust Corp lifted its holdings in Moelis & Company by 32.7% during the 3rd quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock worth $41,867,000 after buying an additional 228,840 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Moelis & Company by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,729 shares of the asset manager’s stock valued at $35,776,000 after buying an additional 42,424 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Moelis & Company

In other Moelis & Company news, CFO Joseph Simon sold 8,573 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $54.13, for a total value of $464,056.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Moelis & Company news, CFO Joseph Simon sold 8,573 shares of Moelis & Company stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Navid Mahmoodzadegan sold 50,772 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 64,463 shares of the company’s stock, valued at $3,488,092.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,145 shares of company stock worth $20,074,491. Corporate insiders own 6.96% of the company’s stock.

Moelis & Company Stock Up 1.7 %

Shares of MC opened at $52.91 on Thursday. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67. The stock has a 50 day moving average price of $53.55 and a 200 day moving average price of $52.04. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of -278.47 and a beta of 1.39.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. During the same quarter in the prior year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts anticipate that Moelis & Company will post 1.3 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, May 3rd. Moelis & Company’s payout ratio is -1,263.16%.

Analyst Ratings Changes

MC has been the topic of a number of recent research reports. UBS Group upped their price objective on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, April 25th. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. The Goldman Sachs Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $58.00 in a research note on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Moelis & Company has a consensus rating of “Hold” and an average price target of $50.80.

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.