Moelis & Company (MC) Chairman Sells $1,308,091.52 in Stock
Moelis & Company (NYSE:MC) Chairman Kenneth Moelis sold 30,656 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $42.67, for a total transaction of $1,308,091.52. The sale was disclosed in a document filed with the SEC, which is available at this link.
Kenneth Moelis also recently made the following trade(s):
- On Friday, October 27th, Kenneth Moelis sold 9,500 shares of Moelis & stock. The stock was sold at an average price of $42.41, for a total transaction of $402,895.00.
- On Tuesday, October 31st, Kenneth Moelis sold 40,800 shares of Moelis & stock. The stock was sold at an average price of $42.66, for a total transaction of $1,740,528.00.
Shares of Moelis & Company (NYSE MC) traded down $0.13 during midday trading on Friday, hitting $42.15. 321,601 shares of the stock traded hands, compared to its average volume of 352,239. The company has a market capitalization of $2.29 billion, a P/E ratio of 17.69 and a beta of 1.87.
Moelis & (NYSE:MC) last issued its earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.15. The company had revenue of $170.00 million for the quarter, compared to analyst estimates of $168.51 million. Moelis & had a net margin of 9.62% and a return on equity of 56.83%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. analysts predict that Moelis & Company will post 2.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, November 3rd. Moelis &’s dividend payout ratio (DPR) is presently 70.81%.
TRADEMARK VIOLATION NOTICE: “Moelis & Company (MC) Chairman Sells $1,308,091.52 in Stock” was first posted by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/11/03/moelis-company-mc-chairman-sells-1308091-52-in-stock.html.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Moelis & by 6.4% during the 2nd quarter. BlackRock Inc. now owns 2,379,872 shares of the asset manager’s stock worth $92,458,000 after acquiring an additional 142,321 shares during the last quarter. Vanguard Group Inc. boosted its stake in Moelis & by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,039,429 shares of the asset manager’s stock worth $79,233,000 after acquiring an additional 119,368 shares during the last quarter. American Century Companies Inc. boosted its stake in Moelis & by 636.3% during the 3rd quarter. American Century Companies Inc. now owns 564,299 shares of the asset manager’s stock worth $24,293,000 after acquiring an additional 487,660 shares during the last quarter. AGF Investments Inc. bought a new position in Moelis & during the 2nd quarter worth approximately $21,907,000. Finally, State Street Corp boosted its stake in Moelis & by 10.9% during the 2nd quarter. State Street Corp now owns 543,767 shares of the asset manager’s stock worth $21,127,000 after acquiring an additional 53,620 shares during the last quarter. 90.80% of the stock is currently owned by institutional investors and hedge funds.
MC has been the topic of a number of research analyst reports. UBS AG increased their price objective on shares of Moelis & from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. JMP Securities increased their price objective on shares of Moelis & from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Morgan Stanley increased their price objective on shares of Moelis & from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Moelis & from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Friday, July 28th. Finally, BidaskClub raised shares of Moelis & from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $42.00.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with MarketBeat.com's FREE daily email newsletter.