ExodusPoint Capital Management LP Trims Stock Holdings in Moelis & Company (NYSE:MC)

ExodusPoint Capital Management LP lessened its stake in shares of Moelis & Company (NYSE:MC) by 93.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,696 shares of the asset manager’s stock after selling 80,756 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Moelis & Company were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MC. Edgestream Partners L.P. purchased a new position in shares of Moelis & Company during the 4th quarter worth $2,784,000. Charles Schwab Investment Management Inc. increased its stake in Moelis & Company by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager’s stock valued at $69,119,000 after purchasing an additional 12,632 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in Moelis & Company during the fourth quarter worth about $9,149,000. Raymond James Financial Inc. acquired a new stake in Moelis & Company in the 4th quarter worth about $27,855,000. Finally, Entropy Technologies LP acquired a new stake in Moelis & Company in the 4th quarter worth about $412,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Activity at Moelis & Company

In related news, insider Christopher Callesano sold 1,282 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $94,868.00. Following the completion of the transaction, the insider now owns 1,227 shares of the company’s stock, valued at approximately $90,798. This represents a 51.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Osamu R. Watanabe sold 5,661 shares of Moelis & Company stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $418,914.00. Following the sale, the general counsel now owns 6,471 shares in the company, valued at $478,854. This represents a 46.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,721 shares of company stock valued at $1,677,017. Corporate insiders own 6.40% of the company’s stock.

Moelis & Company Price Performance

NYSE:MC opened at $50.54 on Friday. The business’s 50-day moving average is $64.25 and its two-hundred day moving average is $70.13. The firm has a market capitalization of $3.79 billion, a PE ratio of 28.71 and a beta of 1.53. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $82.89.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, beating the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. Equities analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 5.14%. Moelis & Company’s dividend payout ratio is 147.73%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MC shares. Wells Fargo & Company cut their price objective on shares of Moelis & Company from $63.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley decreased their price target on shares of Moelis & Company from $70.00 to $42.00 and set an “underweight” rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group dropped their price objective on Moelis & Company from $86.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, March 14th. StockNews.com cut Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.50.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.