Moelis & Company (NYSE:MC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its holdings in shares of Moelis & Company (NYSE:MC) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,768 shares of the asset manager’s stock after selling 509 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.11% of Moelis & Company worth $4,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 193 shares during the last quarter. Peak Financial Advisors LLC grew its position in Moelis & Company by 2.9% in the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock valued at $495,000 after buying an additional 245 shares during the last quarter. Assetmark Inc. increased its stake in Moelis & Company by 22.5% in the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after buying an additional 276 shares during the period. Naples Global Advisors LLC lifted its stake in shares of Moelis & Company by 3.3% in the 2nd quarter. Naples Global Advisors LLC now owns 10,171 shares of the asset manager’s stock worth $578,000 after acquiring an additional 325 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Moelis & Company by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 18,666 shares of the asset manager’s stock worth $1,061,000 after acquiring an additional 345 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

MC stock opened at $70.17 on Friday. The stock’s 50 day moving average price is $65.13 and its 200 day moving average price is $58.31. The firm has a market cap of $5.25 billion, a P/E ratio of -369.32 and a beta of 1.33. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $70.82.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The business’s revenue was up 47.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share. On average, research analysts predict that Moelis & Company will post 1.09 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.40 annualized dividend and a dividend yield of 3.42%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Transactions at Moelis & Company

In related news, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at approximately $5,922.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total value of $430,272.00. The disclosure for this sale can be found here. Insiders sold a total of 12,526 shares of company stock worth $830,133 over the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group increased their price objective on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.33.

Moelis & 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.