Moelis & Co (MC) Position Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its position in Moelis & Co (NYSE:MC) by 10.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 718,906 shares of the asset manager’s stock after buying an additional 65,485 shares during the period. Dimensional Fund Advisors LP’s holdings in Moelis & Co were worth $24,716,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild & Co. Asset Management US Inc. increased its position in shares of Moelis & Co by 3.7% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 318,889 shares of the asset manager’s stock valued at $10,963,000 after buying an additional 11,391 shares in the last quarter. Victory Capital Management Inc. bought a new position in Moelis & Co during the 4th quarter worth about $6,829,000. Millennium Management LLC increased its holdings in Moelis & Co by 258.4% during the 4th quarter. Millennium Management LLC now owns 417,751 shares of the asset manager’s stock worth $14,362,000 after purchasing an additional 301,206 shares in the last quarter. Stifel Financial Corp increased its holdings in Moelis & Co by 26.5% during the 4th quarter. Stifel Financial Corp now owns 55,446 shares of the asset manager’s stock worth $1,912,000 after purchasing an additional 11,623 shares in the last quarter. Finally, Naples Global Advisors LLC bought a new position in Moelis & Co during the 4th quarter worth about $470,000. Institutional investors and hedge funds own 72.60% of the company’s stock.
In other news, insider Jeffrey Raich sold 73,361 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $2,751,037.50. Following the completion of the transaction, the insider now directly owns 146,724 shares in the company, valued at approximately $5,502,150. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Callesano sold 3,500 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the transaction, the insider now owns 7,269 shares of the company’s stock, valued at $276,222. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,512 shares of company stock valued at $7,333,450. Corporate insiders own 29.91% of the company’s stock.
Moelis & Co (NYSE:MC) last released its earnings results on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The firm had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $141.54 million. Moelis & Co had a return on equity of 49.19% and a net margin of 15.04%. The company’s revenue was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 EPS. As a group, sell-side analysts forecast that Moelis & Co will post 2.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is presently 66.67%.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Moelis & Co from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. ValuEngine cut Moelis & Co from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 7th. Bank of America cut Moelis & Co from a “buy” rating to an “underperform” rating in a report on Thursday, April 11th. Finally, JMP Securities lowered their target price on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Moelis & Co currently has an average rating of “Hold” and a consensus price target of $53.89.
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About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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