Moelis & Company (NYSE:MC) Issues Quarterly Earnings Results

Moelis & Company (NYSE:MC - Get Free Report) issued its quarterly earnings data on Wednesday. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11, Briefing.com reports. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The company had revenue of $217.49 million for the quarter, compared to analysts' expectations of $219.30 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Moelis & Company's revenue for the quarter was up 17.4% on a year-over-year basis.

Moelis & Company Stock Performance

Shares of NYSE MC traded down $3.73 during mid-day trading on Thursday, hitting $50.26. The stock had a trading volume of 1,758,835 shares, compared to its average volume of 643,677. The business has a 50 day moving average price of $54.31 and a two-hundred day moving average price of $51.51. The firm has a market cap of $3.58 billion, a P/E ratio of -138.08 and a beta of 1.35. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, February 20th were issued a $0.60 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.78%. Moelis & Company's payout ratio is -666.67%.

Wall Street Analysts Forecast Growth

MC has been the topic of several analyst reports. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research note on Tuesday, April 9th. StockNews.com upgraded Moelis & Company from a "sell" rating to a "hold" rating in a report on Thursday, February 8th. The Goldman Sachs Group upgraded Moelis & Company from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on Moelis & Company from $46.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, Moelis & Company has a consensus rating of "Hold" and a consensus target price of $50.80.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 128,277 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the transaction, the chief executive officer now directly owns 161,810 shares of the company's stock, valued at approximately $8,511,206. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 50,772 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $54.11, for a total value of $2,747,272.92. Following the transaction, the insider now owns 64,463 shares of the company's stock, valued at $3,488,092.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth Moelis sold 128,277 shares of the company's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the sale, the chief executive officer now directly owns 161,810 shares of the company's stock, valued at approximately $8,511,206. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.