Sei Investments Co. Cuts Holdings in Moelis & Company (NYSE:MC)

Sei Investments Co. lowered its holdings in Moelis & Company (NYSE:MC - Free Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,669 shares of the asset manager's stock after selling 8,691 shares during the period. Sei Investments Co. owned about 0.37% of Moelis & Company worth $20,366,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Moelis & Company in the fourth quarter worth approximately $47,000. Jones Financial Companies Lllp grew its holdings in Moelis & Company by 148.3% in the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock valued at $61,000 after buying an additional 491 shares during the last quarter. AlphaQuest LLC acquired a new position in Moelis & Company during the 4th quarter valued at $61,000. Smartleaf Asset Management LLC increased its holdings in shares of Moelis & Company by 368.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,016 shares of the asset manager's stock worth $75,000 after purchasing an additional 799 shares during the period. Finally, GAMMA Investing LLC increased its stake in Moelis & Company by 18.1% during the fourth quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Price Performance

MC stock traded up $0.03 during midday trading on Monday, reaching $57.94. The company had a trading volume of 369,105 shares, compared to its average volume of 693,955. The stock has a 50 day moving average price of $70.16 and a 200-day moving average price of $71.48. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $82.89. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 32.87 and a beta of 1.43.

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Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates 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, research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.65 per share. The ex-dividend date was Tuesday, February 18th. This is a boost from Moelis & Company's previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a dividend yield of 4.49%. Moelis & Company's dividend payout ratio is 147.73%.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,551 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $72.30, for a total value of $184,437.30. Following the transaction, the director now directly owns 6,940 shares in the company, valued at $501,762. This trade represents a 26.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Callesano sold 1,282 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $94,868.00. Following the sale, the insider now owns 1,227 shares of the company's stock, valued at $90,798. This trade represents a 51.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,721 shares of company stock valued at $1,677,017. Corporate insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, February 6th. Morgan Stanley reissued an "underweight" rating and issued a $70.00 price target (down previously from $100.00) on shares of Moelis & Company in a report on Thursday, March 13th. StockNews.com downgraded Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Moelis & Company from $77.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and a consensus target price of $71.83.

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.