Truist Financial Corp Makes New Investment in Moelis & Company (NYSE:MC)

Truist Financial Corp bought a new position in shares of Moelis & Company (NYSE:MC) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,221 shares of the asset manager’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MC. Vanguard Group Inc. lifted its position in shares of Moelis & Company by 3.5% during the first quarter. Vanguard Group Inc. now owns 6,645,142 shares of the asset manager’s stock valued at $311,989,000 after buying an additional 225,659 shares during the last quarter. BlackRock Inc. lifted its position in shares of Moelis & Company by 0.8% during the third quarter. BlackRock Inc. now owns 5,551,219 shares of the asset manager’s stock valued at $187,688,000 after buying an additional 43,345 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Moelis & Company by 0.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,907,088 shares of the asset manager’s stock valued at $111,545,000 after buying an additional 18,721 shares during the last quarter. Timucuan Asset Management Inc. FL lifted its position in shares of Moelis & Company by 0.7% during the fourth quarter. Timucuan Asset Management Inc. FL now owns 2,462,185 shares of the asset manager’s stock valued at $94,474,000 after buying an additional 17,516 shares during the last quarter. Finally, Heard Capital LLC lifted its position in shares of Moelis & Company by 9.1% during the first quarter. Heard Capital LLC now owns 1,754,739 shares of the asset manager’s stock valued at $67,452,000 after buying an additional 146,341 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Trading Up 2.0 %

Shares of NYSE:MC opened at $46.05 on Tuesday. Moelis & Company has a twelve month low of $33.12 and a twelve month high of $52.50. The company’s 50 day moving average is $46.81 and its 200 day moving average is $42.46. The company has a market cap of $3.27 billion, a PE ratio of 86.89 and a beta of 1.47.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Moelis & Company had a return on equity of 12.45% and a net margin of 4.62%. The business had revenue of $179.87 million during the quarter, compared to analyst estimates of $187.72 million. During the same quarter last year, the company posted $0.57 EPS. Moelis & Company’s quarterly revenue was down 25.8% compared to the same quarter last year. Equities research analysts predict that Moelis & Company will post 0.3 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Monday, August 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, August 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.21%. Moelis & Company’s payout ratio is 452.84%.

Wall Street Analysts Forecast Growth

Several analysts have commented on MC shares. StockNews.com started coverage on shares of Moelis & Company in a research report on Thursday, August 17th. They set a “hold” rating for the company. TheStreet lowered shares of Moelis & Company from a “b-” rating to a “c” rating in a research report on Tuesday, May 30th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $35.60.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 1,417 shares of Moelis & Company stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $48.09, for a total value of $68,143.53. Following the sale, the director now owns 7,157 shares of the company’s stock, valued at approximately $344,180.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Moelis & Company news, Director Kenneth Shropshire sold 1,417 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $48.09, for a total value of $68,143.53. Following the transaction, the director now owns 7,157 shares in the company, valued at approximately $344,180.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Elizabeth Crain sold 5,588 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $48.06, for a total value of $268,559.28. The disclosure for this sale can be found here. Insiders have sold 12,593 shares of company stock valued at $605,486 in the last 90 days. 6.96% of the stock is currently owned by company insiders.

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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.