Balyasny Asset Management L.P. Has $53.44 Million Stock Position in Moelis & Company (NYSE:MC)

Balyasny Asset Management L.P. raised its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 215.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 723,384 shares of the asset manager's stock after purchasing an additional 494,123 shares during the quarter. Balyasny Asset Management L.P. owned 0.97% of Moelis & Company worth $53,444,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in Moelis & Company by 14.3% in the 4th quarter. Bank of America Corp DE now owns 616,604 shares of the asset manager's stock valued at $45,555,000 after acquiring an additional 77,224 shares in the last quarter. Algert Global LLC bought a new stake in shares of Moelis & Company during the fourth quarter valued at approximately $6,768,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Moelis & Company in the fourth quarter valued at $335,000. Comerica Bank lifted its position in Moelis & Company by 0.7% in the fourth quarter. Comerica Bank now owns 48,417 shares of the asset manager's stock worth $3,577,000 after purchasing an additional 349 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Moelis & Company in the 4th quarter valued at $1,878,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. StockNews.com cut Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. JPMorgan Chase & Co. lowered their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their target price on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $61.83.

Insider Buying and Selling

In other news, General Counsel Osamu R. Watanabe sold 5,661 shares of Moelis & Company stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total transaction of $418,914.00. Following the transaction, the general counsel now owns 6,471 shares in the company, valued at $478,854. The trade was a 46.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total transaction of $718,688.00. Following the sale, the chief executive officer now directly owns 209,235 shares of the company's stock, valued at $15,483,390. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,721 shares of company stock valued at $1,677,017 over the last ninety days. Insiders own 6.40% of the company's stock.

Moelis & Company Stock Performance

Shares of NYSE MC traded down $0.19 during trading on Friday, reaching $54.94. The company had a trading volume of 853,234 shares, compared to its average volume of 751,350. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89. The business's 50 day moving average price is $55.87 and its 200-day moving average price is $67.99. The stock has a market cap of $4.31 billion, a PE ratio of 31.22 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million during the quarter, compared to analysts' expectations of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The business's revenue for the quarter was up 41.0% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. Equities analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Monday, May 5th. Moelis & Company's dividend payout ratio is 119.27%.

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.