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 lessened its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 55.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 114,898 shares of the asset manager's stock after selling 145,147 shares during the period. Cramer Rosenthal Mcglynn LLC owned approximately 0.15% of Moelis & Company worth $6,705,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MC. MetLife Investment Management LLC lifted its position in shares of Moelis & Company by 7.2% during the 4th quarter. MetLife Investment Management LLC now owns 42,623 shares of the asset manager's stock worth $3,149,000 after purchasing an additional 2,850 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Moelis & Company by 117.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,015 shares of the asset manager's stock worth $297,000 after purchasing an additional 2,170 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Moelis & Company during the 4th quarter worth about $508,000. Price T Rowe Associates Inc. MD lifted its position in shares of Moelis & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,628 shares of the asset manager's stock worth $3,150,000 after purchasing an additional 860 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in Moelis & Company by 1.0% in the 4th quarter. Voya Investment Management LLC now owns 323,953 shares of the asset manager's stock valued at $23,934,000 after acquiring an additional 3,282 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MC shares. Wells Fargo & Company upped their price target on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. 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. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price target for the company from $42.00 to $68.00 in a report on Monday, June 23rd. The Goldman Sachs Group upped their price target on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Zacks Research raised Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. One research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $66.00.

Moelis & Company Price Performance

Shares of MC traded down $0.97 during mid-day trading on Friday, reaching $71.97. The company had a trading volume of 612,501 shares, compared to its average volume of 652,414. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The company's 50-day moving average is $69.28 and its 200-day moving average is $62.60. The company has a market capitalization of $5.65 billion, a P/E ratio of 28.33 and a beta of 1.70.

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

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, August 4th. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. Moelis & Company's dividend payout ratio is 102.36%.

Insider Buying and Selling

In related news, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director directly owned 7,109 shares in the company, valued at $515,544.68. This represents a 26.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $460,537.60. Following the sale, the general counsel owned 131 shares in the company, valued at approximately $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

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.