Kenneth Shropshire Sells 1,881 Shares of Moelis & Company (NYSE:MC) Stock

Moelis & Company (NYSE:MC) Director Kenneth Shropshire sold 1,881 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the sale, the director owned 7,633 shares of the company’s stock, valued at approximately $527,134.98. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Moelis & Company Trading Down 2.4%

MC stock opened at $66.46 on Wednesday. The firm has a market cap of $5.20 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 0.89 and a beta of 1.84. The stock has a 50-day moving average price of $67.15 and a 200-day moving average price of $64.32. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $409.39 million for the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. On average, analysts forecast that Moelis & Company will post 3.09 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, August 10th will be paid a $0.65 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. Moelis & Company’s payout ratio is currently 90.59%.

Wall Street Analyst Weigh In

A number of research firms have commented on MC. Wall Street Zen upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a report on Friday, August 21st. Keefe, Bruyette & Woods cut their price objective on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Friday, July 10th. Morgan Stanley raised their target price on Moelis & Company from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.62.

Institutional Investors Weigh In On Moelis & Company

Institutional investors and hedge funds have recently made changes to their positions in the business. Allied Private Wealth LLC acquired a new position in Moelis & Company during the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. grew its holdings in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after buying an additional 163 shares in the last quarter. Allworth Financial LP grew its holdings in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after buying an additional 254 shares in the last quarter. Root Financial Partners LLC raised its position in Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after buying an additional 339 shares during the last quarter. Finally, Quarry LP raised its position in Moelis & Company by 1,811.1% in the 3rd quarter. Quarry LP now owns 516 shares of the asset manager’s stock valued at $37,000 after buying an additional 489 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Company Profile

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.