Moelis & Company (NYSE:MC) Stake Lowered by Peak Financial Advisors LLC

Peak Financial Advisors LLC decreased its stake in Moelis & Company (NYSE:MC) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,497 shares of the asset manager’s stock after selling 252 shares during the period. Peak Financial Advisors LLC’s holdings in Moelis & Company were worth $582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC bought a new stake in Moelis & Company in the first quarter valued at $3,213,000. UniSuper Management Pty Ltd bought a new stake in Moelis & Company in the 1st quarter valued at about $801,000. Lord Abbett & CO. LLC boosted its stake in Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after purchasing an additional 55,402 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Moelis & Company by 51.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock worth $7,699,000 after purchasing an additional 46,226 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Moelis & Company by 11.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after purchasing an additional 334,620 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth Shropshire sold 495 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,526 shares of company stock valued at $830,133 over the last three months. Company insiders own 6.40% of the company’s stock.

Moelis & Company Stock Up 3.3 %

Shares of Moelis & Company stock opened at $68.97 on Friday. Moelis & Company has a fifty-two week low of $38.58 and a fifty-two week high of $71.34. The business has a fifty day simple moving average of $65.89 and a 200-day simple moving average of $59.75. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -362.97 and a beta of 1.33.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. Analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. UBS Group raised their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.00.

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.