Rhumbline Advisers Sells 2,544 Shares of Moelis & Company (NYSE:MC)

Rhumbline Advisers decreased its position in Moelis & Company (NYSE:MC) by 1.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 193,270 shares of the asset manager’s stock after selling 2,544 shares during the quarter. Rhumbline Advisers owned 0.25% of Moelis & Company worth $11,279,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in Moelis & Company by 52.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Headlands Technologies LLC bought a new stake in Moelis & Company during the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its position in Moelis & Company by 1,551.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager’s stock worth $38,000 after acquiring an additional 605 shares during the last quarter. Versant Capital Management Inc grew its position in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager’s stock worth $46,000 after acquiring an additional 745 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Moelis & Company by 148.3% during the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager’s stock worth $61,000 after acquiring an additional 491 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Down 0.9%

Moelis & Company stock opened at $58.52 on Tuesday. The business’s 50-day simple moving average is $54.88 and its 200 day simple moving average is $65.85. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 33.25 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The company had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was up 41.0% on a year-over-year basis. As a group, sell-side analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be paid a $0.65 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.44%. Moelis & Company’s payout ratio is presently 119.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of Moelis & Company from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 24th. Wall Street Zen lowered shares of Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Finally, The Goldman Sachs Group increased their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.83.

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.