Raymond James Financial Services Advisors Inc. Sells 1,155 Shares of Moelis & Company (NYSE:MC)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Moelis & Company (NYSE:MC) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,773 shares of the asset manager’s stock after selling 1,155 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Moelis & Company were worth $268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MC. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Moelis & Company during the third quarter worth $16,924,000. Northern Trust Corp grew its stake in shares of Moelis & Company by 32.7% during the third quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock worth $41,867,000 after buying an additional 228,840 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Moelis & Company during the third quarter worth $6,215,000. Barclays PLC grew its stake in shares of Moelis & Company by 56.1% during the third quarter. Barclays PLC now owns 294,010 shares of the asset manager’s stock worth $13,268,000 after buying an additional 105,715 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Moelis & Company during the third quarter worth $4,712,000. Institutional investors own 91.53% of the company’s stock.

Insider Activity at Moelis & Company

In related news, insider Navid Mahmoodzadegan sold 20,001 shares of the business’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 transaction, the insider now owns 79,859 shares in the company, valued at $4,457,729.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Navid Mahmoodzadegan sold 20,001 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the transaction, the insider now owns 79,859 shares in the company, valued at $4,457,729.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Callesano sold 1,040 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The disclosure for this sale can be found here. Insiders have sold a total of 375,185 shares of company stock worth $20,130,225 over the last quarter. Company insiders own 6.96% of the company’s stock.

Analysts Set New Price Targets

MC has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $56.00 price objective on shares of Moelis & Company in a research note on Monday, January 29th. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. UBS Group reduced their price objective on shares of Moelis & Company from $46.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. 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 analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus target price of $50.80.

Moelis & Company Stock Up 3.0 %

MC stock opened at $53.20 on Tuesday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -147.78 and a beta of 1.35. Moelis & Company has a 12-month low of $33.87 and a 12-month high of $58.67. The company’s fifty day simple moving average is $54.30 and its 200 day simple moving average is $51.42.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.05. The business had revenue of $214.90 million for the quarter, compared to analyst estimates of $197.98 million. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. Moelis & Company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Research analysts expect that Moelis & Company will post 1.47 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 annualized dividend and a yield of 4.51%. Moelis & Company’s payout ratio is -666.67%.

Moelis & Company 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.