Simon Quick Advisors LLC Sells 967 Shares of Moelis & Company $MC

Simon Quick Advisors LLC cut its stake in Moelis & Company (NYSE:MC) by 20.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,751 shares of the asset manager’s stock after selling 967 shares during the quarter. Simon Quick Advisors LLC’s holdings in Moelis & Company were worth $234,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. eCIO Inc. bought a new position in shares of Moelis & Company in the 1st quarter worth about $50,000. GAMMA Investing LLC increased its stake in shares of Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after acquiring an additional 457 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Moelis & Company in the 1st quarter worth about $107,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Moelis & Company in the 1st quarter worth about $124,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Moelis & Company by 10.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,241 shares of the asset manager’s stock worth $202,000 after acquiring an additional 298 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Up 0.2%

Shares of NYSE MC opened at $63.47 on Tuesday. The firm’s 50-day moving average price is $70.50 and its 200-day moving average price is $65.40. The company has a market cap of $4.98 billion, a PE ratio of 21.23 and a beta of 1.77. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The firm had revenue of $356.89 million for the quarter, compared to the consensus estimate of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. As a group, equities research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

Several brokerages recently issued reports on MC. Deutsche Bank Aktiengesellschaft began coverage on shares of Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on shares of Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Seaport Res Ptn upgraded shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and a consensus price target of $71.57.

Insider Activity

In other news, Director Kenneth Shropshire sold 2,615 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director owned 7,109 shares of the company’s stock, valued at $515,544.68. This trade represents a 26.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is currently owned by insiders.

Moelis & 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.