Cibc World Markets Corp Makes New $489,000 Investment in Moelis & Company (NYSE:MC)

Cibc World Markets Corp bought a new position in shares of Moelis & Company (NYSE:MC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,613 shares of the asset manager's stock, valued at approximately $489,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Moelis & Company during the fourth quarter worth $47,000. Jones Financial Companies Lllp raised its position in Moelis & Company by 148.3% during the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock worth $61,000 after purchasing an additional 491 shares during the last quarter. AlphaQuest LLC acquired a new position in Moelis & Company during the 4th quarter worth about $61,000. Smartleaf Asset Management LLC grew its position in shares of Moelis & Company by 368.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,016 shares of the asset manager's stock valued at $75,000 after buying an additional 799 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after buying an additional 180 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, insider Christopher Callesano sold 1,282 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total transaction of $94,868.00. Following the completion of the sale, the insider now directly owns 1,227 shares of the company's stock, valued at approximately $90,798. The trade was a 51.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $718,688.00. Following the completion of the sale, the chief executive officer now directly owns 209,235 shares of the company's stock, valued at approximately $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. In the last 90 days, insiders sold 22,721 shares of company stock worth $1,677,017. 6.40% of the stock is owned by corporate insiders.

Remove Ads

Moelis & Company Price Performance

Shares of MC stock traded down $1.24 on Wednesday, reaching $61.68. 665,845 shares of the company were exchanged, compared to its average volume of 625,557. The company has a 50-day moving average of $71.15 and a 200-day moving average of $71.56. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 35.04 and a beta of 1.43. Moelis & Company has a one year low of $46.24 and a one year high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. As a group, sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 18th will be given a $0.65 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $2.60 annualized dividend and a yield of 4.22%. This is an increase from Moelis & Company's previous quarterly dividend of $0.60. Moelis & Company's dividend payout ratio (DPR) is presently 147.73%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MC. The Goldman Sachs Group cut their price objective on Moelis & Company from $86.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. StockNews.com cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 target price (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $71.83.

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.