Cetera Advisors LLC purchased a new stake in Moelis & Co (NYSE:MC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,159 shares of the asset manager’s stock, valued at approximately $212,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Strycker View Capital LLC purchased a new stake in shares of Moelis & Co during the first quarter valued at approximately $4,598,000. State Board of Administration of Florida Retirement System raised its holdings in Moelis & Co by 6.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,529 shares of the asset manager’s stock worth $521,000 after purchasing an additional 730 shares in the last quarter. Rhumbline Advisers raised its holdings in Moelis & Co by 0.9% in the first quarter. Rhumbline Advisers now owns 58,525 shares of the asset manager’s stock worth $2,435,000 after purchasing an additional 548 shares in the last quarter. Alps Advisors Inc. bought a new position in Moelis & Co in the first quarter worth $382,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Moelis & Co in the first quarter worth $1,200,000. 72.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Moelis & Co news, insider Jeffrey Raich sold 73,361 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $2,751,037.50. Following the transaction, the insider now owns 146,724 shares in the company, valued at $5,502,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Callesano sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the transaction, the insider now directly owns 7,269 shares of the company’s stock, valued at approximately $276,222. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,181 shares of company stock valued at $8,350,975. 29.91% of the stock is currently owned by corporate insiders.
MC has been the topic of a number of recent research reports. ValuEngine cut Moelis & Co from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. JMP Securities dropped their price objective on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, April 8th. Zacks Investment Research cut Moelis & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Bank of America downgraded Moelis & Co from a “buy” rating to an “underperform” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Moelis & Co has a consensus rating of “Hold” and a consensus target price of $52.00.
Shares of Moelis & Co stock traded down $0.61 on Friday, reaching $32.95. The company had a trading volume of 326,800 shares, compared to its average volume of 557,816. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.23 and a beta of 2.01. The company has a debt-to-equity ratio of 0.21, a quick ratio of 10.48 and a current ratio of 10.48. Moelis & Co has a 1 year low of $31.64 and a 1 year high of $67.65.
Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. Moelis & Co had a return on equity of 49.19% and a net margin of 15.04%. The company had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $141.54 million. During the same quarter in the previous year, the business earned $0.84 EPS. Moelis & Co’s revenue was down 37.2% compared to the same quarter last year. Sell-side analysts predict that Moelis & Co will post 2.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, May 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date is Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is presently 66.67%.
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About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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