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Moelis & Company (NYSE:MC) General Counsel Sells $460,537.60 in Stock

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Key Points

  • Osamu R. Watanabe, General Counsel of Moelis & Company, sold 6,340 shares of the company's stock on July 25th at an average price of $72.64, resulting in a significant decrease in his ownership by 97.98%.
  • Moelis & Company's quarterly earnings report showed an EPS of $0.53, surpassing analysts' estimates of $0.32, with a revenue increase of 38.1% year-over-year.
  • The company announced a quarterly dividend of $0.65 per share, with a record date of August 4th, representing an annualized payout of $2.60 and a dividend yield of 3.66%.
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Moelis & Company (NYSE:MC - Get Free Report) General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Moelis & Company Price Performance

Shares of MC traded down $1.67 during trading hours on Friday, hitting $68.47. The stock had a trading volume of 1,087,355 shares, compared to its average volume of 873,789. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm has a market capitalization of $5.38 billion, a P/E ratio of 26.96 and a beta of 1.64. The firm has a 50 day simple moving average of $63.52 and a 200-day simple moving average of $63.45.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The business had revenue of $365.38 million for the quarter, compared to analysts' expectations of $269.57 million. During the same quarter last year, the firm earned $0.18 EPS. The firm's revenue for the quarter was up 38.1% compared to the same quarter last year. Equities analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. Moelis & Company's dividend payout ratio (DPR) is currently 102.36%.

Hedge Funds Weigh In On Moelis & Company

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Moelis & Company by 214.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager's stock worth $171,713,000 after purchasing an additional 2,006,747 shares during the last quarter. Norges Bank purchased a new stake in shares of Moelis & Company during the 4th quarter worth approximately $52,610,000. Goldman Sachs Group Inc. increased its stake in shares of Moelis & Company by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager's stock worth $137,548,000 after purchasing an additional 579,529 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Moelis & Company by 215.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock worth $53,444,000 after purchasing an additional 494,123 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager's stock worth $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

MC has been the topic of several research analyst reports. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group lifted their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Moelis & Company currently has an average rating of "Hold" and a consensus price target of $66.00.

Read Our Latest Analysis on MC

Moelis & Company Company Profile

(Get Free Report)

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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