Dimensional Fund Advisors LP Sells 223,393 Shares of Moelis & Company (NYSE:MC)

Dimensional Fund Advisors LP lowered its stake in shares of Moelis & Company (NYSE:MC) by 22.0% during the second quarter, Holdings Channel.com reports. The firm owned 792,670 shares of the asset manager’s stock after selling 223,393 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Moelis & Company were worth $45,068,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of Moelis & Company by 27.0% during the second quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock worth $16,690,000 after purchasing an additional 62,444 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Moelis & Company by 49.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 51,275 shares of the asset manager’s stock worth $2,915,000 after acquiring an additional 16,965 shares during the last quarter. Headlands Technologies LLC acquired a new position in Moelis & Company during the second quarter worth about $113,000. Choreo LLC acquired a new position in Moelis & Company during the second quarter worth about $259,000. Finally, Los Angeles Capital Management LLC acquired a new position in Moelis & Company during the second quarter worth about $515,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,526 shares of company stock worth $830,133. Insiders own 6.40% of the company’s stock.

Moelis & Company Trading Down 0.4 %

NYSE MC opened at $68.93 on Monday. The stock’s 50-day moving average price is $65.56 and its two-hundred day moving average price is $58.94. The company has a market cap of $5.16 billion, a PE ratio of -362.79 and a beta of 1.33. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $71.34.

Moelis & Company (NYSE:MC) last announced its quarterly 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. The business had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) EPS. Research analysts forecast that Moelis & Company will post 1.08 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were paid a $0.60 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.40 annualized dividend and a dividend yield of 3.48%. Moelis & Company’s payout ratio is -1,263.16%.

Analyst Upgrades and Downgrades

MC has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. UBS Group increased their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and an average target price of $59.33.

About Moelis & Company

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.