Insider Selling: Moelis & Company (NYSE:MC) Director Sells $129,901.86 in Stock

Key Points

• Moelis & Company director Kenneth Shropshire sold 1,881 shares for approximately $129,902, reducing his holdings by 19.77% to 7,633 shares.
• Moelis reported quarterly EPS of $0.63, slightly exceeding estimates, while revenue rose 12% year over year to $409.39 million.
• The company declared a quarterly dividend of $0.65 per share, representing a 3.8% yield; analysts maintain a consensus “Hold” rating with an average price target of $73.62.

Moelis & Company (NYSE:MC - Get Free Report) Director Kenneth Shropshire sold 1,881 shares of the business's stock in a transaction that occurred 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 sale, the director owned 7,633 shares in the company, valued at $527,134.98. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Moelis & Company Stock Performance

Shares of NYSE:MC traded down $0.36 during mid-day trading on Monday, hitting $68.04. The stock had a trading volume of 465,820 shares, compared to its average volume of 1,065,655. The company's 50 day moving average is $67.14 and its 200-day moving average is $64.37. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The company has a market cap of $5.33 billion, a PE ratio of 23.71, a P/E/G ratio of 0.90 and a beta of 1.84.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $409.39 million for the quarter, compared to analysts' expectations of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. On average, equities research analysts predict that Moelis & Company will post 3.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 10th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Moelis & Company's payout ratio is presently 90.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MC shares. Wall Street Zen raised Moelis & Company from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group reaffirmed a "sell" rating and set a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Morgan Stanley upped their target price on Moelis & Company from $83.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Zacks Research raised shares of Moelis & Company from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Moelis & Company in a report on Friday, August 21st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Moelis & Company presently has a consensus rating of "Hold" and an average target price of $73.62.

Hedge Funds Weigh In On Moelis & Company

A number of hedge funds have recently modified their holdings of MC. Allied Private Wealth LLC purchased a new position in Moelis & Company in the second quarter valued at about $25,000. Root Financial Partners LLC increased its position in Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager's stock worth $26,000 after purchasing an additional 339 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Moelis & Company by 64.4% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager's stock worth $29,000 after purchasing an additional 163 shares in the last quarter. Allworth Financial LP raised its stake in shares of Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager's stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Moelis & Company by 89.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager's stock valued at $37,000 after buying an additional 282 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.

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