Moelis & Company $MC Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd cut its Moelis & Company stake by 89.7% in the second quarter, selling 108,615 shares and retaining 12,422 shares worth approximately $813,000. Institutional investors collectively own 91.53% of the company.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with an average price target of $73.62; targets range from $60 at UBS to $85 at Morgan Stanley.
• Moelis exceeded quarterly earnings expectations with EPS of $0.63 and revenue of $409.39 million, while announcing a $0.65 quarterly dividend equivalent to a 4.2% annual yield.

WINTON GROUP Ltd lowered its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 89.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 12,422 shares of the asset manager's stock after selling 108,615 shares during the period. WINTON GROUP Ltd's holdings in Moelis & Company were worth $813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nykredit A S acquired a new stake in Moelis & Company during the second quarter worth about $99,000. Corient Private Wealth LP lifted its holdings in Moelis & Company by 1.1% in the second quarter. Corient Private Wealth LP now owns 58,232 shares of the asset manager's stock valued at $3,810,000 after acquiring an additional 613 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Moelis & Company in the 2nd quarter worth approximately $321,000. California State Teachers Retirement System boosted its position in Moelis & Company by 6,263.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,592,625 shares of the asset manager's stock worth $365,870,000 after purchasing an additional 5,504,738 shares in the last quarter. Finally, Odyssean LLC grew its stake in shares of Moelis & Company by 70.7% during the 2nd quarter. Odyssean LLC now owns 43,912 shares of the asset manager's stock worth $2,873,000 after purchasing an additional 18,194 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MC. UBS Group reiterated a "sell" rating and issued a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Zacks Research raised shares of Moelis & Company from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded Moelis & Company from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Morgan Stanley lifted their price target on Moelis & Company from $83.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reduced their price target on Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Moelis & Company currently has an average rating of "Hold" and an average price target of $73.62.

Moelis & Company Trading Down 2.2%

MC stock opened at $62.63 on Tuesday. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The business's 50-day moving average is $67.17 and its 200 day moving average is $64.52. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 0.84 and a beta of 1.84.

Moelis & Company (NYSE:MC - Get Free Report) last announced its earnings results on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.01. The business had revenue of $409.39 million during the quarter, compared to analysts' expectations of $387.27 million. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The business's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, equities analysts forecast that Moelis & Company will post 3.09 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be issued a $0.65 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.60 dividend on an annualized basis and a yield of 4.2%. Moelis & Company's dividend payout ratio (DPR) is presently 90.59%.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 1,881 shares of the company's stock in a transaction 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 completion of the sale, the director owned 7,633 shares of the company's stock, valued at $527,134.98. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Osamu Watanabe sold 4,850 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $69.30, for a total transaction of $336,105.00. Following the sale, the general counsel directly owned 131 shares of the company's stock, valued at $9,078.30. The trade was a 97.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.29% of the company's stock.

Moelis & Company Profile

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

Founded in 2007 by Ken Moelis, the company operates through a network of offices serving clients across the Americas, Europe, Asia-Pacific and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.