Rhumbline Advisers Acquires 3,651 Shares of Moelis & Company (NYSE:MC)

Rhumbline Advisers boosted its holdings in Moelis & Company (NYSE:MC) by 1.8% in the second quarter, HoldingsChannel reports. The firm owned 201,473 shares of the asset manager’s stock after purchasing an additional 3,651 shares during the period. Rhumbline Advisers’ holdings in Moelis & Company were worth $11,456,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Moelis & Company by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 814,568 shares of the asset manager’s stock valued at $45,722,000 after acquiring an additional 21,839 shares in the last quarter. Versor Investments LP acquired a new position in shares of Moelis & Company during the fourth quarter valued at about $275,000. Principal Financial Group Inc. boosted its position in shares of Moelis & Company by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 796,756 shares of the asset manager’s stock worth $44,722,000 after purchasing an additional 3,553 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Moelis & Company by 9.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,418 shares of the asset manager’s stock valued at $304,000 after buying an additional 472 shares during the period. Finally, KLR Investment Advisors LLC acquired a new stake in shares of Moelis & Company in the 4th quarter valued at about $262,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Moelis & Company

In related news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. The disclosure for this sale can be found here. Insiders have sold 12,526 shares of company stock worth $830,133 in the last 90 days. Insiders own 6.40% of the company’s stock.

Moelis & Company Trading Down 1.3 %

NYSE MC opened at $62.65 on Thursday. The business has a fifty day simple moving average of $63.67 and a 200 day simple moving average of $57.53. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $70.00. The firm has a market capitalization of $4.69 billion, a P/E ratio of -329.95 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, sell-side analysts predict that Moelis & Company will post 1.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, August 5th. This represents a $2.40 annualized dividend and a dividend yield of 3.83%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Wall Street Analysts Forecast Growth

MC has been the topic of several recent research reports. Morgan Stanley increased their price target on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. UBS Group boosted their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.00.

Moelis & Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.