Moelis & Company (NYSE:MC) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 894,212 shares of the asset manager's stock after selling 79,928 shares during the quarter. Lord Abbett & CO. LLC owned about 1.19% of Moelis & Company worth $66,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MC. CIBC Private Wealth Group LLC raised its stake in shares of Moelis & Company by 52.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Moelis & Company during the fourth quarter worth about $31,000. R Squared Ltd purchased a new stake in shares of Moelis & Company during the fourth quarter worth about $47,000. Jones Financial Companies Lllp lifted its stake in shares of Moelis & Company by 148.3% in the fourth quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock worth $61,000 after acquiring an additional 491 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Moelis & Company during the 4th quarter valued at approximately $61,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 2,551 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $72.30, for a total value of $184,437.30. Following the completion of the transaction, the director now owns 6,940 shares in the company, valued at approximately $501,762. This represents a 26.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ciafone Katherine Pilcher sold 3,515 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 3,934 shares in the company, valued at $291,116. The trade was a 47.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,721 shares of company stock worth $1,677,017. Insiders own 6.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MC shares. The Goldman Sachs Group decreased their price target on shares of Moelis & Company from $86.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Morgan Stanley cut their price objective on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. Finally, Wells Fargo & Company reduced their target price on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday. Two 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 stock. According to data from MarketBeat.com, Moelis & Company presently has an average rating of "Hold" and a consensus price target of $61.83.

Moelis & Company Stock Down 0.1 %

Shares of NYSE MC opened at $52.57 on Friday. The firm's 50-day moving average price is $59.05 and its two-hundred day moving average price is $69.01. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The stock has a market capitalization of $3.94 billion, a P/E ratio of 29.87 and a beta of 1.53.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The business had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. As a group, equities research analysts expect that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Monday, May 5th. Moelis & Company's dividend payout ratio (DPR) is 147.73%.

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.

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