Millennium Management LLC Sells 125,630 Shares of Moelis & Company (NYSE:MC)

Millennium Management LLC lowered its stake in Moelis & Company (NYSE:MC - Free Report) by 52.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,187 shares of the asset manager's stock after selling 125,630 shares during the period. Millennium Management LLC owned 0.15% of Moelis & Company worth $8,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Dakota Wealth Management bought a new position in shares of Moelis & Company during the fourth quarter worth $256,000. Juncture Wealth Strategies LLC bought a new position in Moelis & Company in the fourth quarter valued at approximately $207,000. Blue Trust Inc. increased its holdings in Moelis & Company by 47.7% during the fourth quarter. Blue Trust Inc. now owns 1,597 shares of the asset manager's stock worth $109,000 after buying an additional 516 shares during the last quarter. KBC Group NV raised its holdings in shares of Moelis & Company by 46.8% in the 4th quarter. KBC Group NV now owns 3,035 shares of the asset manager's stock valued at $224,000 after purchasing an additional 967 shares during the period. Finally, R Squared Ltd bought a new position in Moelis & Company during the fourth quarter worth about $47,000. Institutional investors own 91.53% of the company's stock.

Moelis & Company Trading Up 0.1%

Moelis & Company stock traded up $0.06 during trading hours on Friday, reaching $57.92. 192,868 shares of the stock were exchanged, compared to its average volume of 771,628. The company has a market cap of $4.55 billion, a P/E ratio of 32.92 and a beta of 1.66. The stock has a 50 day moving average of $55.20 and a two-hundred day moving average of $66.81. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company's revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. On average, analysts expect that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.49%. Moelis & Company's dividend payout ratio is currently 119.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MC. Wells Fargo & Company dropped their price target on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Morgan Stanley reduced their target price on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a report on Monday, April 7th. The Goldman Sachs Group increased their price target 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. Finally, Wall Street Zen downgraded Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $59.83.

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.