Kenneth Moelis Sells 60,000 Shares of Moelis & Company (NYSE:MC) Stock


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Moelis & Company (NYSE:MC) CEO Kenneth Moelis sold 60,000 shares of the stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $56.56, for a total transaction of $3,393,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Kenneth Moelis also recently made the following trade(s):

  • On Thursday, April 1st, Kenneth Moelis sold 17,815 shares of Moelis & Company stock. The stock was sold at an average price of $56.07, for a total transaction of $998,887.05.
  • On Monday, March 29th, Kenneth Moelis sold 3,500 shares of Moelis & Company stock. The stock was sold at an average price of $56.00, for a total transaction of $196,000.00.
  • On Friday, March 26th, Kenneth Moelis sold 5,728 shares of Moelis & Company stock. The stock was sold at an average price of $56.01, for a total transaction of $320,825.28.
  • On Wednesday, March 24th, Kenneth Moelis sold 541 shares of Moelis & Company stock. The stock was sold at an average price of $56.18, for a total transaction of $30,393.38.
  • On Monday, March 22nd, Kenneth Moelis sold 4,754 shares of Moelis & Company stock. The stock was sold at an average price of $56.10, for a total transaction of $266,699.40.
  • On Friday, March 19th, Kenneth Moelis sold 60,000 shares of Moelis & Company stock. The shares were sold at an average price of $56.64, for a total transaction of $3,398,400.00.
  • On Monday, March 15th, Kenneth Moelis sold 60,000 shares of Moelis & Company stock. The shares were sold at an average price of $55.75, for a total transaction of $3,345,000.00.
  • On Wednesday, March 17th, Kenneth Moelis sold 180,000 shares of Moelis & Company stock. The shares were sold at an average price of $56.44, for a total transaction of $10,159,200.00.
  • On Monday, March 1st, Kenneth Moelis sold 43,613 shares of Moelis & Company stock. The shares were sold at an average price of $54.50, for a total transaction of $2,376,908.50.
  • On Thursday, February 18th, Kenneth Moelis sold 72,064 shares of Moelis & Company stock. The shares were sold at an average price of $54.64, for a total transaction of $3,937,576.96.

Shares of NYSE:MC opened at $56.41 on Thursday. The firm has a market cap of $3.61 billion, a PE ratio of 44.77 and a beta of 1.33. The firm’s fifty day moving average is $55.02 and its 200-day moving average is $46.31. Moelis & Company has a 52 week low of $26.05 and a 52 week high of $59.63.

Moelis & Company (NYSE:MC) last announced its earnings results on Tuesday, February 9th. The asset manager reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.65. Moelis & Company had a net margin of 9.91% and a return on equity of 23.47%. The business had revenue of $422.03 million during the quarter, compared to the consensus estimate of $311.09 million. During the same quarter last year, the firm earned $0.38 earnings per share. Moelis & Company’s quarterly revenue was up 88.8% on a year-over-year basis. Research analysts anticipate that Moelis & Company will post 2.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Monday, February 22nd were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, February 19th. This is an increase from Moelis & Company’s previous quarterly dividend of $0.38. Moelis & Company’s dividend payout ratio (DPR) is currently 112.24%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in Moelis & Company during the fourth quarter worth $219,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Moelis & Company during the fourth quarter worth $1,547,000. Norges Bank bought a new position in Moelis & Company during the fourth quarter worth $24,781,000. Principal Financial Group Inc. raised its stake in Moelis & Company by 67.8% during the fourth quarter. Principal Financial Group Inc. now owns 13,380 shares of the asset manager’s stock worth $626,000 after buying an additional 5,404 shares during the last quarter. Finally, Hudson Value Partners LLC bought a new position in Moelis & Company during the fourth quarter worth $975,000. 88.19% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on MC shares. UBS Group upgraded shares of Moelis & Company from a “neutral” rating to a “buy” rating and raised their target price for the company from $40.00 to $56.00 in a research report on Tuesday, January 5th. Piper Sandler raised their target price on shares of Moelis & Company from $58.00 to $68.00 in a research report on Tuesday, March 16th. Morgan Stanley raised their target price on shares of Moelis & Company from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Moelis & Company from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $34.00 to $50.00 in a report on Thursday, January 7th. Finally, Seaport Global Securities assumed coverage on shares of Moelis & Company in a report on Wednesday, December 16th. They set a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.88.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

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