Raymond James Financial Services Advisors Inc. Has $268,000 Stock Position in Moelis & Company (NYSE:MC)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Moelis & Company (NYSE:MC) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,773 shares of the asset manager’s stock after selling 1,155 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Moelis & Company were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Moelis & Company in the 3rd quarter worth approximately $16,924,000. Northern Trust Corp raised its position in Moelis & Company by 32.7% in the 3rd quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock worth $41,867,000 after purchasing an additional 228,840 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Moelis & Company in the 3rd quarter worth approximately $6,215,000. Barclays PLC raised its position in Moelis & Company by 56.1% in the 3rd quarter. Barclays PLC now owns 294,010 shares of the asset manager’s stock worth $13,268,000 after purchasing an additional 105,715 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Moelis & Company in the 3rd quarter worth approximately $4,712,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MC shares. UBS Group dropped their price objective on shares of Moelis & Company from $46.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. StockNews.com upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their target price on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $56.00 target price on shares of Moelis & Company in a research report on Monday, January 29th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Moelis & Company has an average rating of “Hold” and an average target price of $50.80.

Moelis & Company Stock Up 3.0 %

MC opened at $53.20 on Tuesday. Moelis & Company has a 12 month low of $33.87 and a 12 month high of $58.67. The company has a fifty day simple moving average of $54.30 and a 200 day simple moving average of $51.42. The stock has a market cap of $3.79 billion, a P/E ratio of -147.78 and a beta of 1.35.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, February 7th. The asset manager reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The business had revenue of $214.90 million during the quarter, compared to analysts’ expectations of $197.98 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that Moelis & Company will post 1.47 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio is currently -666.67%.

Insider Activity at Moelis & Company

In related news, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $6,747,370.20. Following the completion of the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at approximately $8,511,206. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Joseph Simon sold 8,573 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the completion of the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at $8,511,206. The disclosure for this sale can be found here. Insiders sold a total of 375,185 shares of company stock worth $20,130,225 in the last quarter. Corporate insiders own 6.96% of the company’s stock.

About Moelis & Company

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.