Cramer Rosenthal Mcglynn LLC Sells 145,147 Shares of Moelis & Company $MC

Key Points

• Cramer Rosenthal Mcglynn LLC sold 145,147 shares of Moelis & Company, reducing its stake by 55.8% to a total of 114,898 shares valued at approximately $6.7 million.
• Moelis & Company reported $0.53 EPS for the latest quarter, exceeding forecasts, with a revenue of $365.38 million, representing a 38.1% increase from the previous year.
• The company declared a quarterly dividend of $0.65 per share, with an annual yield of 3.6%, although its payout ratio stands at 102.36%.

Cramer Rosenthal Mcglynn LLC decreased its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 55.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,898 shares of the asset manager's stock after selling 145,147 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.15% of Moelis & Company worth $6,705,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB raised its position 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 worth $38,000 after purchasing an additional 605 shares during the last quarter. Versant Capital Management Inc increased its stake in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after purchasing an additional 745 shares in the last quarter. NBC Securities Inc. bought a new stake in Moelis & Company during the 1st quarter valued at about $59,000. GAMMA Investing LLC raised its holdings in Moelis & Company by 38.9% in the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock worth $95,000 after buying an additional 457 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Moelis & Company in the first quarter worth about $107,000. 91.53% of the stock is owned by institutional investors.

Moelis & Company Stock Performance

Shares of NYSE:MC traded up $0.37 during midday trading on Thursday, reaching $72.88. 430,604 shares of the company's stock traded hands, compared to its average volume of 667,021. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 28.69 and a beta of 1.70. Moelis & Company has a one year low of $47.00 and a one year high of $82.89. The stock has a 50 day moving average of $68.97 and a 200 day moving average of $62.63.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The firm had revenue of $365.38 million for the quarter, compared to the consensus estimate of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The company's revenue for the quarter was up 38.1% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. Sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio (DPR) is 102.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and increased their target price for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. Wells Fargo & Company boosted their price target on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Zacks Research raised Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods upped their price target on Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $66.00.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares of the company's stock, valued at approximately $515,544.68. This represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel owned 131 shares in the company, valued at $9,515.84. The trade was a 97.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.40% of the company's stock.

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.