Moelis & Company (NYSE:MC) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC decreased its stake in Moelis & Company (NYSE:MC) by 4.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,671 shares of the asset manager’s stock after selling 500 shares during the period. Naples Global Advisors LLC’s holdings in Moelis & Company were worth $564,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MC. CIBC Private Wealth Group LLC boosted its holdings in shares of Moelis & Company by 52.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager’s stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Moelis & Company in the 4th quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Moelis & Company by 1,551.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager’s stock valued at $38,000 after buying an additional 605 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Moelis & Company by 1,460.8% in the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager’s stock valued at $46,000 after buying an additional 745 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Moelis & Company in the 1st quarter valued at $59,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Price Performance

Shares of NYSE:MC opened at $59.12 on Friday. The stock has a market cap of $4.64 billion, a P/E ratio of 33.59 and a beta of 1.64. The firm has a fifty day moving average price of $54.91 and a 200 day moving average price of $66.08. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 5th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend is Monday, May 5th. Moelis & Company’s payout ratio is 119.27%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MC. The Goldman Sachs Group upped their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, May 15th. Wells Fargo & Company decreased their price target on shares of Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Wall Street Zen cut shares of Moelis & Company from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Morgan Stanley decreased their price target on shares of Moelis & Company from $70.00 to $42.00 and set an “underweight” rating for the company in a research note on Monday, April 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.83.

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.