Robeco Institutional Asset Management BV reduced its position in shares of Moelis & Company (NYSE: MC – Get Rating) by 81.9% in the 1st quarter, reports Holdings Channel.com. The company held 39,214 shares of the asset manager after selling 177,111 shares during the period. Robeco Institutional Asset Management BV’s holdings in Moelis & Company amounted to USD 1,842,000 when last filed with the Securities and Exchange Commission (SEC).
Other big investors have also been buying and selling shares of the company recently. Exchange Traded Concepts LLC increased its stake in Moelis & Company by 50.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 891 shares of the asset manager valued at $56,000 after acquiring an additional 300 shares during the period. Edge Capital Group LLC acquired a new stake in Moelis & Company in Q4 valued at $1,048,000. Kolinsky Wealth Management LLC acquired a new stake in Moelis & Company in Q4 valued at $281,000. Russell Investments Group Ltd. acquired a new stake in Moelis & Company in the 4th quarter valued at $1,213,000. Finally, Fieldpoint Private Securities LLC increased its stake in Moelis & Company by 72.0% in the 4th quarter. Fieldpoint Private Securities LLC now owns 9,726 shares of the asset manager valued at $608,000 after acquiring an additional 4,071 shares during the period. 86.17% of the shares are held by hedge funds and other institutional investors.
MC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods downgraded Moelis & Company shares from an “outperform” rating to a “market performer” rating and set a price target of $57.00 for the stock. in a research note from Wednesday, April 6. StockNews.com began covering Moelis & Company shares in a research note on Thursday, March 31. They have placed a “holding” rating on the stock. Piper Sandler lowered her price target on Moelis & Company shares from $50.00 to $45.00 and set a “neutral” rating on the stock in a Friday, July 8 research note. Goldman Sachs Group lowered its price target on Moelis & Company shares from $50.00 to $45.00 and set a “neutral” rating on the stock in a Tuesday, April 12 research note. Finally, UBS Group downgraded Moelis & Company shares from a “buy” rating to a “neutral” rating and lowered its share price target from $54.00 to $40.00 in a research note from Wednesday July 6th. One research analyst rated the stock with a sell rating and six gave the company a hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.00.
Separately, COO Elizabeth Crain sold 7,000 shares of the company in a trade dated Tuesday, May 31. The shares were sold at an average price of $47.08, for a total value of $329,560.00. The sale was disclosed in a document filed with the SEC, accessible via the SEC’s website. 7.97% of the shares are currently held by insiders.
MC shares opened at $38.93 on Friday. The company’s 50-day moving average price is $41.88 and its 200-day moving average price is $47.67. The stock has a market capitalization of $2.71 billion, a price-earnings ratio of 7.37 and a beta of 1.24. Moelis & Company has a 12-month low of $37.16 and a 12-month high of $77.49.
Moelis & Company (NYSE:MC – Get Rating) last reported quarterly results on Wednesday, April 27. The asset manager reported earnings per share of $0.95 for the quarter, beating the consensus estimate of $0.74 by $0.21. The company posted revenue of $302.09 million for the quarter, versus $251.42 million expected by analysts. Moelis & Company had a net margin of 23.08% and a return on equity of 89.78%. In the same quarter a year earlier, the company posted EPS of $0.75. On average, analysts expect Moelis & Company to post EPS of 3.54 for the current financial year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 8. Shareholders of record on Monday, May 9 received a dividend of $0.60 per share. The ex-dividend date was Friday, May 6. This represents an annualized dividend of $2.40 and a dividend yield of 6.16%. Moelis & Company’s payout ratio is 45.45%.
Profile of Moelis and the company (Get a rating)
Moelis & Company operates as an investment banking advisory firm. She provides advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions and other corporate finance matters. The company offers its services to public multinationals, private middle market companies, financial sponsors, entrepreneurs, governments and sovereign wealth funds.
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