221,927 Shares in Moelis & Company (NYSE:MC) Bought by Fred Alger Management LLC

Fred Alger Management LLC bought a new position in Moelis & Company (NYSE:MC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 221,927 shares of the asset manager's stock, valued at approximately $16,396,000. Fred Alger Management LLC owned 0.30% of Moelis & Company at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MC. CIBC Private Wealth Group LLC increased its position in shares of Moelis & Company by 52.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares during the period. Headlands Technologies LLC bought a new stake in Moelis & Company in the 4th quarter valued at $31,000. R Squared Ltd bought a new stake in Moelis & Company in the 4th quarter valued at $47,000. Jones Financial Companies Lllp raised its stake in shares of Moelis & Company by 148.3% in the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock valued at $61,000 after buying an additional 491 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in shares of Moelis & Company during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Insider Activity at Moelis & Company

In related news, insider Christopher Callesano sold 1,282 shares of Moelis & Company stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $94,868.00. Following the completion of the sale, the insider now owns 1,227 shares in the company, valued at $90,798. This trade represents a 51.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $718,688.00. Following the sale, the chief executive officer now directly owns 209,235 shares in the company, valued at $15,483,390. This trade represents a 4.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,721 shares of company stock worth $1,677,017 over the last 90 days. 6.40% of the stock is owned by company insiders.

Moelis & Company Price Performance

Shares of NYSE MC traded down $0.47 during midday trading on Wednesday, reaching $60.67. The company's stock had a trading volume of 437,617 shares, compared to its average volume of 757,714. The stock has a market capitalization of $4.76 billion, a P/E ratio of 34.47 and a beta of 1.66. The firm has a 50 day moving average price of $55.61 and a 200-day moving average price of $67.85. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89.

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

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.29%. Moelis & Company's dividend payout ratio is presently 119.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MC. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group decreased their price objective on Moelis & Company from $86.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. StockNews.com downgraded shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Finally, Morgan Stanley decreased their target price on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.83.

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.