Moelis & Company (NYSE:MC) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in shares of Moelis & Company (NYSE:MC) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,238 shares of the asset manager’s stock after selling 8,313 shares during the period. Jennison Associates LLC owned about 0.13% of Moelis & Company worth $5,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mendota Financial Group LLC bought a new stake in Moelis & Company in the fourth quarter valued at about $34,000. Neo Ivy Capital Management acquired a new stake in shares of Moelis & Company during the 3rd quarter valued at approximately $99,000. International Assets Investment Management LLC lifted its stake in Moelis & Company by 890.4% during the fourth quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock worth $180,000 after purchasing an additional 2,876 shares during the last quarter. Strs Ohio boosted its holdings in Moelis & Company by 28.6% in the third quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock worth $162,000 after purchasing an additional 800 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Moelis & Company during the third quarter valued at $174,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC opened at $49.75 on Friday. The stock’s 50 day moving average price is $54.07 and its 200 day moving average price is $51.54. The stock has a market cap of $3.54 billion, a P/E ratio of -261.84 and a beta of 1.35. Moelis & Company has a 12 month low of $33.87 and a 12 month high of $58.67.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.13%. The firm had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. During the same quarter in the prior year, the firm posted $0.05 EPS. Moelis & Company’s revenue was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Moelis & Company will post 1.47 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, May 3rd. Moelis & Company’s payout ratio is currently -1,263.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MC shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research report on Thursday. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. UBS Group raised their price target on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday. Finally, The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and an average target price of $50.80.

Insider Activity

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Ciafone Katherine Pilcher sold 4,798 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $252,374.80. Following the completion of the sale, the chief operating officer now directly owns 3,666 shares of the company’s stock, valued at approximately $192,831.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,185 shares of company stock worth $20,130,225. 6.96% of the stock is owned by company insiders.

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.