Fred Alger Management LLC Takes Position in Moelis & Company (NYSE:MC)

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

Several other hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its stake in shares of Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Moelis & Company in the fourth quarter valued at $31,000. R Squared Ltd acquired a new stake in shares of Moelis & Company in the fourth quarter valued at $47,000. Jones Financial Companies Lllp increased its stake in shares of Moelis & Company by 148.3% in the fourth 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 acquired a new stake in shares of Moelis & Company in the fourth quarter valued at $61,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Moelis & Company

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

Moelis & Company Trading Down 0.3%

Moelis & Company stock traded down $0.19 during mid-day trading on Friday, hitting $54.94. The stock had a trading volume of 853,234 shares, compared to its average volume of 752,430. The stock has a 50-day simple moving average of $55.68 and a two-hundred day simple moving average of $67.88. The stock has a market capitalization of $4.31 billion, a PE ratio of 31.22 and a beta of 1.66. 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 posted 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 business had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The firm's quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. Sell-side analysts expect that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 5th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, May 5th. This represents a $2.60 annualized dividend and a dividend yield of 4.73%. Moelis & Company's payout ratio is currently 119.27%.

Analyst Ratings Changes

MC has been the subject of a number of research reports. Morgan Stanley lowered 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. StockNews.com lowered Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. lowered their target price on 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 target on Moelis & Company from $86.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Moelis & Company presently has an average 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.