Arizona State Retirement System Has $1.05 Million Stake in Moelis & Company (NYSE:MC)

Arizona State Retirement System trimmed its stake in shares of Moelis & Company (NYSE:MC) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,611 shares of the asset manager’s stock after selling 342 shares during the period. Arizona State Retirement System’s holdings in Moelis & Company were worth $1,045,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. First Capital Advisors Group LLC. acquired a new position in Moelis & Company in the second quarter valued at approximately $26,000. Mendota Financial Group LLC acquired a new position in Moelis & Company in the fourth quarter valued at approximately $34,000. Tower Research Capital LLC TRC lifted its holdings in Moelis & Company by 380.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the asset manager’s stock valued at $53,000 after buying an additional 1,091 shares during the period. Covestor Ltd lifted its holdings in Moelis & Company by 230.3% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after buying an additional 1,073 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Moelis & Company in the third quarter valued at approximately $99,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MC. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $56.00 price objective on shares of Moelis & Company in a report on Monday, January 29th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their target price for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average target price of $50.80.

Moelis & Company Stock Down 0.6 %

Shares of MC stock opened at $51.73 on Tuesday. The firm has a fifty day moving average of $54.63 and a 200-day moving average of $51.16. Moelis & Company has a 12-month low of $33.87 and a 12-month high of $58.67. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -143.69 and a beta of 1.35.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The company had revenue of $214.90 million during the quarter, compared to the consensus estimate of $197.98 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Moelis & Company will post 1.5 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio (DPR) is currently -666.67%.

Insider Activity at Moelis & Company

In related news, insider Navid Mahmoodzadegan sold 20,001 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $55.82, for a total value of $1,116,455.82. Following the completion of the transaction, the insider now owns 79,859 shares of the company’s stock, valued at $4,457,729.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Navid Mahmoodzadegan sold 20,001 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $55.82, for a total value of $1,116,455.82. Following the completion of the transaction, the insider now owns 79,859 shares of the company’s stock, valued at $4,457,729.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Eric Cantor sold 17,857 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $939,278.20. Following the completion of the sale, the insider now owns 195,863 shares of the company’s stock, valued at approximately $10,302,393.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,185 shares of company stock valued at $20,130,225. Corporate insiders own 6.96% of the company’s stock.

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.