Fisher Asset Management LLC Trims Holdings in Moelis & Company (NYSE:MC)

Fisher Asset Management LLC decreased its stake in shares of Moelis & Company (NYSE:MC) by 7.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,365 shares of the asset manager’s stock after selling 5,396 shares during the period. Fisher Asset Management LLC’s holdings in Moelis & Company were worth $3,781,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Moelis & Company by 21.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,928 shares of the asset manager’s stock valued at $268,000 after acquiring an additional 1,035 shares during the last quarter. New York State Teachers Retirement System lifted its position in Moelis & Company by 20.1% during the third quarter. New York State Teachers Retirement System now owns 21,024 shares of the asset manager’s stock valued at $949,000 after purchasing an additional 3,524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Moelis & Company by 14.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the asset manager’s stock worth $487,000 after buying an additional 1,394 shares in the last quarter. Strs Ohio increased its holdings in shares of Moelis & Company by 28.6% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock worth $162,000 after buying an additional 800 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Moelis & Company by 6.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,484 shares of the asset manager’s stock valued at $1,331,000 after buying an additional 1,741 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Buying and Selling

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kenneth Moelis sold 128,277 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the completion of the transaction, the chief executive officer now owns 161,810 shares of the company’s stock, valued at approximately $8,511,206. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction on Thursday, February 8th. The shares were 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. Insiders have sold a total of 375,185 shares of company stock valued at $20,130,225 over the last ninety days. Company insiders own 6.96% of the company’s stock.

Moelis & Company Trading Down 0.7 %

Shares of MC opened at $52.03 on Wednesday. Moelis & Company has a 1-year low of $33.87 and a 1-year high of $58.67. The firm’s 50-day moving average price is $53.57 and its 200-day moving average price is $52.04. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -273.84 and a beta of 1.39.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. During the same period last year, the business posted $0.05 earnings per share. Moelis & Company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts forecast that Moelis & Company will post 1.3 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 6th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.40 annualized dividend and a dividend yield of 4.61%. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Analysts Set New Price Targets

A number of research analysts recently commented on MC shares. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. UBS Group raised their price target on shares of Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $50.80.

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.