Edgestream Partners L.P. Invests $2.78 Million in Moelis & Company (NYSE:MC)

Edgestream Partners L.P. acquired a new position in Moelis & Company (NYSE:MC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,683 shares of the asset manager's stock, valued at approximately $2,784,000. Edgestream Partners L.P. owned approximately 0.05% of Moelis & Company as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Callan Family Office LLC boosted its position in shares of Moelis & Company by 549.7% in the 4th quarter. Callan Family Office LLC now owns 19,808 shares of the asset manager's stock worth $1,463,000 after buying an additional 16,759 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in shares of Moelis & Company by 1.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 55,409 shares of the asset manager's stock worth $4,094,000 after purchasing an additional 907 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Moelis & Company in the fourth quarter valued at $27,855,000. Arizona State Retirement System boosted its stake in Moelis & Company by 0.8% in the 4th quarter. Arizona State Retirement System now owns 20,420 shares of the asset manager's stock worth $1,509,000 after buying an additional 163 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Moelis & Company in the 4th quarter worth about $10,158,000. Institutional investors and hedge funds own 91.53% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. Morgan Stanley reissued an "underweight" rating and set a $70.00 price target (down previously from $100.00) on shares of Moelis & Company in a research report on Thursday. The Goldman Sachs Group raised their price objective on Moelis & Company from $79.00 to $87.00 and gave the stock a "neutral" rating in a report on Thursday, February 6th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $73.83.

Insider Transactions at Moelis & Company

In other Moelis & Company news, COO Ciafone Katherine Pilcher sold 3,515 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $260,110.00. Following the sale, the chief operating officer now directly owns 3,934 shares of the company's stock, valued at approximately $291,116. This represents a 47.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth Moelis sold 9,712 shares of Moelis & Company stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $718,688.00. Following the completion of the transaction, the chief executive officer now directly owns 209,235 shares of the company's stock, valued at $15,483,390. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,721 shares of company stock valued at $1,677,017. Insiders own 6.40% of the company's stock.

Moelis & Company Trading Down 2.5 %

NYSE MC traded down $1.52 during mid-day trading on Thursday, reaching $58.57. 1,596,778 shares of the company's stock traded hands, compared to its average volume of 877,335. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $82.89. The company has a fifty day simple moving average of $73.49 and a 200-day simple moving average of $71.87. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 33.28 and a beta of 1.43.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. Equities research analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a positive change from Moelis & Company's previous quarterly dividend of $0.60. Moelis & Company's dividend payout ratio is 147.73%.

About Moelis & Company

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.