Callan Family Office LLC Has $359,000 Stake in Moelis & Company $MC

Key Points

• Callan Family Office LLC reduced its stake in Moelis & Company by 68.9%, owning 6,151 shares worth approximately $359,000 after selling 13,657 shares.
• Moelis & Company's stock is currently down 3.1%, trading at $72.01, with a one-year range between $47.00 and $82.89.
• The company announced a quarterly dividend of $0.65 per share, reflecting an annualized dividend of $2.60 and a yield of 3.6%.

Callan Family Office LLC lowered its stake in Moelis & Company (NYSE:MC - Free Report) by 68.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,151 shares of the asset manager's stock after selling 13,657 shares during the quarter. Callan Family Office LLC's holdings in Moelis & Company were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Peak Financial Advisors LLC lifted its stake in Moelis & Company by 2.4% in the 1st quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager's stock valued at $500,000 after purchasing an additional 204 shares during the last quarter. Palisades Investment Partners LLC boosted its holdings in shares of Moelis & Company by 0.3% during the 1st quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager's stock valued at $4,478,000 after acquiring an additional 204 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Moelis & Company by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,394 shares of the asset manager's stock worth $546,000 after acquiring an additional 234 shares during the last quarter. Choreo LLC increased its holdings in Moelis & Company by 5.1% in the 1st quarter. Choreo LLC now owns 5,075 shares of the asset manager's stock worth $296,000 after purchasing an additional 244 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Moelis & Company by 5.8% during the first quarter. Xponance Inc. now owns 5,373 shares of the asset manager's stock valued at $314,000 after purchasing an additional 294 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the transaction, the general counsel directly owned 131 shares of the company's stock, valued at $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MC. The Goldman Sachs Group raised their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods raised their target price on Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $66.00.

Moelis & Company Stock Performance

Shares of MC stock traded down $0.3750 during mid-day trading on Tuesday, hitting $71.2450. The company's stock had a trading volume of 93,285 shares, compared to its average volume of 930,701. The company has a market cap of $5.59 billion, a PE ratio of 28.05 and a beta of 1.70. The company's fifty day simple moving average is $66.60 and its 200-day simple moving average is $62.80. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The business had revenue of $365.38 million during the quarter, compared to analysts' expectations of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The firm's revenue was up 38.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities analysts anticipate that Moelis & Company will post 2.97 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 18th. Stockholders of record on Monday, August 4th will be paid a $0.65 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. Moelis & Company's payout ratio is currently 102.36%.

Moelis & 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.