Greenwood Capital Associates LLC Sells 13,500 Shares of Moelis & Company $MC

Greenwood Capital Associates LLC lowered its stake in shares of Moelis & Company (NYSE:MC) by 63.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,902 shares of the asset manager’s stock after selling 13,500 shares during the period. Greenwood Capital Associates LLC’s holdings in Moelis & Company were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased its stake in Moelis & Company by 292.2% in the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 339 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Moelis & Company in the 4th quarter worth about $27,000. Hantz Financial Services Inc. boosted its holdings in shares of Moelis & Company by 64.4% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP increased its position in shares of Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 254 shares during the last quarter. Finally, eCIO Inc. purchased a new position in shares of Moelis & Company during the 4th quarter valued at about $33,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating for the company in a research note on Wednesday, April 8th. Zacks Research lowered shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. The Goldman Sachs Group cut their price objective on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen cut shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, UBS Group reissued a “sell” rating and issued a $60.00 price target (up from $58.00) on shares of Moelis & Company in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $72.11.

Moelis & Company Stock Up 1.4%

Shares of MC opened at $65.50 on Friday. The stock has a market capitalization of $5.15 billion, a P/E ratio of 23.56, a PEG ratio of 0.77 and a beta of 1.85. The firm has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $65.82. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The firm had revenue of $319.78 million during the quarter, compared to the consensus estimate of $321.51 million. During the same period last year, the business earned $0.64 EPS. Moelis & Company’s revenue was up 4.3% on a year-over-year basis. Sell-side analysts expect that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, May 11th. Moelis & Company’s dividend payout ratio is currently 93.53%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.