Moelis & Company $MC Shares Sold by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP has significantly reduced its stake in Moelis & Company by 63.3%, now holding 22,217 shares valued at approximately $1.3 million.
• Moelis & Company recently reported a 38.1% increase in revenue year-over-year, generating $365.38 million in the latest quarter, with an earnings per share (EPS) of $0.53, exceeding estimates.
• The company declared a quarterly dividend of $0.65 per share, which will be paid to stockholders on September 18th, reflecting a yearly dividend yield of 3.6%.

Cinctive Capital Management LP cut its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 63.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,217 shares of the asset manager's stock after selling 38,240 shares during the quarter. Cinctive Capital Management LP's holdings in Moelis & Company were worth $1,297,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Moelis & Company by 38.9% during 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 in the last quarter. Versor Investments LP acquired a new position in shares of Moelis & Company during the first quarter worth about $1,432,000. Diversify Wealth Management LLC grew its position in shares of Moelis & Company by 29.4% during the first quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager's stock worth $4,067,000 after buying an additional 17,322 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company in the first quarter valued at approximately $334,000. Finally, Vanguard Group Inc. boosted its holdings in Moelis & Company by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager's stock valued at $484,720,000 after purchasing an additional 158,373 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the company's 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 sale, the general counsel owned 131 shares in the company, valued at $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Shropshire sold 2,615 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the sale, the director owned 7,109 shares of the company's stock, valued at $515,544.68. This trade represents a 26.89% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Moelis & Company Trading Up 2.2%

Shares of NYSE MC opened at $71.79 on Friday. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The stock has a 50 day moving average of $70.05 and a two-hundred day moving average of $62.47. The stock has a market cap of $5.64 billion, a P/E ratio of 28.26 and a beta of 1.72.

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 the consensus estimate of $0.32 by $0.21. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The business had revenue of $365.38 million during the quarter, compared to analysts' expectations of $269.57 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The company's quarterly revenue was up 38.1% compared to the same quarter last year. As a group, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The business 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio is 102.36%.

Wall Street Analyst Weigh In

MC has been the subject of a number of research analyst reports. 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. Zacks Research raised Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. 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. 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, 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 investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $66.00.

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.

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