Greenwood Capital Associates LLC Sells 13,500 Shares of Moelis & Company $MC

Greenwood Capital Associates LLC decreased its holdings in Moelis & Company (NYSE:MC) by 63.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,902 shares of the asset manager’s stock after selling 13,500 shares during the period. Greenwood Capital Associates LLC’s holdings in Moelis & Company were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new position in Moelis & Company in the 4th quarter worth approximately $60,857,000. Norges Bank bought a new stake in Moelis & Company during the 4th quarter valued at $42,919,000. The Manufacturers Life Insurance Company raised its holdings in Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock valued at $41,231,000 after acquiring an additional 609,162 shares during the period. Wasatch Advisors LP lifted its position in shares of Moelis & Company by 16.1% during the third quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after acquiring an additional 458,575 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Moelis & Company during the first quarter worth $21,701,000. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research lowered Moelis & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Keefe, Bruyette & Woods decreased their price objective on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group reduced their target price on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.11.

Moelis & Company Stock Performance

NYSE:MC opened at $65.50 on Friday. Moelis & Company has a 52-week low of $51.06 and a 52-week high of $78.22. The stock has a fifty day moving average of $66.44 and a 200 day moving average of $65.82. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 0.77 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The business had revenue of $319.78 million during the quarter, compared to the consensus estimate of $321.51 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. Moelis & Company’s revenue was up 4.3% compared to the same quarter last year. Equities analysts forecast that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, May 11th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, May 11th. Moelis & Company’s dividend payout ratio is 93.53%.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.