Cinctive Capital Management LP Acquires 45,490 Shares of Moelis & Company (NYSE:MC)

Cinctive Capital Management LP grew its stake in Moelis & Company (NYSE:MC) by 303.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,457 shares of the asset manager’s stock after purchasing an additional 45,490 shares during the quarter. Cinctive Capital Management LP’s holdings in Moelis & Company were worth $4,467,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Madison Investment Advisors LLC bought a new stake in Moelis & Company in the 4th quarter valued at $86,062,000. Norges Bank acquired a new stake in shares of Moelis & Company during the fourth quarter worth $52,610,000. Raymond James Financial Inc. bought a new stake in shares of Moelis & Company in the fourth quarter valued at about $27,855,000. Fisher Asset Management LLC grew its stake in shares of Moelis & Company by 252.8% in the fourth quarter. Fisher Asset Management LLC now owns 220,770 shares of the asset manager’s stock valued at $16,310,000 after acquiring an additional 158,200 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Moelis & Company during the fourth quarter worth about $10,158,000. 91.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on MC. Morgan Stanley restated an “underweight” rating and set a $70.00 target price (down previously from $100.00) on shares of Moelis & Company in a research report on Thursday, March 13th. Wells Fargo & Company raised their price objective on Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $92.00 target price (up from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. StockNews.com lowered Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Thursday, February 6th. Two investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $71.83.

Moelis & Company Stock Performance

Moelis & Company stock opened at $60.15 on Thursday. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $82.89. The stock has a market capitalization of $4.51 billion, a P/E ratio of 34.18 and a beta of 1.43. The stock has a fifty day moving average of $69.00 and a 200-day moving average of $71.30.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. On average, research analysts forecast that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, February 18th were paid a $0.65 dividend. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.60 annualized dividend and a yield of 4.32%. Moelis & Company’s dividend payout ratio is presently 147.73%.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, COO Ciafone Katherine Pilcher sold 3,515 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $260,110.00. Following the completion of the transaction, the chief operating officer now directly owns 3,934 shares in the company, valued at approximately $291,116. This trade represents a 47.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Callesano sold 1,282 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $94,868.00. Following the sale, the insider now owns 1,227 shares in the company, valued at approximately $90,798. This trade represents a 51.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,721 shares of company stock worth $1,677,017 over the last quarter. Corporate insiders own 6.40% of the company’s stock.

About Moelis & Company

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.