Moelis & Company (NYSE:MC) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lessened its stake in Moelis & Company (NYSE:MC) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 435,383 shares of the asset manager’s stock after selling 6,205 shares during the quarter. Moelis & Company makes up 2.0% of Tributary Capital Management LLC’s holdings, making the stock its 6th biggest position. Tributary Capital Management LLC’s holdings in Moelis & Company were worth $24,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its holdings in shares of Moelis & Company by 147.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after buying an additional 392 shares during the last quarter. O ROURKE & COMPANY Inc raised its stake in Moelis & Company by 9.5% in the 1st quarter. O ROURKE & COMPANY Inc now owns 6,181 shares of the asset manager’s stock valued at $351,000 after acquiring an additional 537 shares during the period. Blue Zone Wealth Advisors LLC bought a new stake in Moelis & Company in the 1st quarter valued at $3,213,000. Wealth Enhancement Advisory Services LLC bought a new stake in Moelis & Company in the 1st quarter valued at $5,062,000. Finally, Peak Financial Advisors LLC raised its stake 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 acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Trading Up 0.5 %

Moelis & Company stock traded up $0.30 during midday trading on Monday, reaching $57.16. The company’s stock had a trading volume of 468,208 shares, compared to its average volume of 609,591. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $58.67. The business has a 50-day moving average price of $54.19 and a 200-day moving average price of $54.60. The stock has a market cap of $4.27 billion, a PE ratio of -300.84 and a beta of 1.35.

Moelis & Company (NYSE:MC) last released 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 return on equity of 0.12% and a negative net margin of 1.33%. The firm had revenue of $217.49 million for the quarter, compared to analysts’ expectations of $219.30 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts predict that Moelis & Company will post 1.29 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 6th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, May 3rd. Moelis & Company’s payout ratio is -1,263.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MC shares. UBS Group increased their price target on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and increased their price target for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 price objective (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.80.

Insider Activity

In other news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now directly owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Navid Mahmoodzadegan sold 44,980 shares of Moelis & Company stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the completion of the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at $2,290,965.18. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

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.