Curated Wealth Partners LLC Sells 94,318 Shares of Moelis & Company $MC

Key Points

• Curated Wealth Partners LLC reduced its Moelis & Company stake by 91.9%, selling 94,318 shares and retaining 8,309 shares valued at approximately $478,000. Institutional investors collectively own 91.53% of the company.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from MarketBeat, with two Buy ratings and six Holds. The average price target is $71, while shares recently traded at $54.56.
• Moelis reported quarterly earnings of $0.63 per share, slightly above estimates, on revenue of $409.39 million, up 12% year over year. The company also pays a quarterly dividend of $0.65, representing a 4.8% annualized yield.

Curated Wealth Partners LLC cut its holdings in Moelis & Company (NYSE:MC - Free Report) by 91.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,309 shares of the asset manager's stock after selling 94,318 shares during the quarter. Curated Wealth Partners LLC's holdings in Moelis & Company were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH lifted its holdings in Moelis & Company by 22.3% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 503,899 shares of the asset manager's stock worth $28,984,000 after buying an additional 91,746 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of Moelis & Company during the third quarter valued at approximately $319,000. GAMMA Investing LLC increased its stake in shares of Moelis & Company by 88.0% during the third quarter. GAMMA Investing LLC now owns 2,799 shares of the asset manager's stock valued at $161,000 after buying an additional 1,310 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Moelis & Company by 166.2% during the third quarter. Farther Finance Advisors LLC now owns 788 shares of the asset manager's stock valued at $45,000 after buying an additional 492 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Moelis & Company by 23.8% during the third quarter. Central Pacific Bank Trust Division now owns 3,330 shares of the asset manager's stock valued at $192,000 after acquiring an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MC. UBS Group raised shares of Moelis & Company from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $60.00 to $59.00 in a research report on Wednesday, October 7th. Zacks Research raised shares of Moelis & Company from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods raised shares of Moelis & Company from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, October 7th. Wall Street Zen upgraded shares of Moelis & Company from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, The Goldman Sachs Group reduced their price target on shares of Moelis & Company from $71.00 to $62.00 and set a "neutral" rating on the stock in a research report on Thursday, October 1st. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $71.00.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu Watanabe sold 4,850 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total transaction of $336,105.00. Following the completion of the transaction, the general counsel owned 131 shares of the company's stock, valued at approximately $9,078.30. This trade represents a 97.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Shropshire sold 1,881 shares of Moelis & Company stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $69.06, for a total transaction of $129,901.86. Following the transaction, the director owned 7,633 shares of the company's stock, valued at $527,134.98. The trade was a 19.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.29% of the stock is currently owned by corporate insiders.

Moelis & Company Trading Down 1.4%

Shares of MC stock opened at $54.56 on Friday. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22. The stock has a market cap of $4.27 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 0.82 and a beta of 1.91. The company's fifty day moving average price is $62.53 and its 200-day moving average price is $64.72.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The firm had revenue of $409.39 million for the quarter, compared to the consensus estimate of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. On average, sell-side analysts forecast that Moelis & Company will post 2.99 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, August 10th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, August 10th. Moelis & Company's dividend payout ratio is 90.59%.

Moelis & Company Company Profile

Moelis & Company NYSE: MC is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. The firm advises clients on mergers and acquisitions, divestitures, recapitalizations, restructurings, liability management, capital raising and other complex financial transactions.

Moelis & Company serves clients across a range of industries, including technology, media and telecommunications; consumer and retail; energy and infrastructure; financial services; healthcare; industrials; and real estate.

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