Illinois Municipal Retirement Fund Reduces Holdings in Moelis & Company (NYSE:MC)

Illinois Municipal Retirement Fund decreased its position in shares of Moelis & Company (NYSE:MC) by 9.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,110 shares of the asset manager’s stock after selling 3,705 shares during the period. Illinois Municipal Retirement Fund’s holdings in Moelis & Company were worth $2,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mendota Financial Group LLC bought a new stake in shares of Moelis & Company in the 4th quarter worth about $34,000. Neo Ivy Capital Management bought a new stake in shares of Moelis & Company during the 3rd quarter valued at about $99,000. International Assets Investment Management LLC grew its position in shares of Moelis & Company by 890.4% during the 4th quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock valued at $180,000 after buying an additional 2,876 shares during the last quarter. Strs Ohio grew its position in shares of Moelis & Company by 28.6% during the 3rd quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock valued at $162,000 after buying an additional 800 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Moelis & Company during the 3rd quarter valued at about $174,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

Moelis & Company stock opened at $50.26 on Friday. The firm has a 50-day moving average price of $54.19 and a two-hundred day moving average price of $51.50. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.13%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 EPS. Sell-side analysts anticipate that Moelis & Company will post 1.47 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 6th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, May 3rd. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MC. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price objective (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. UBS Group boosted their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.80.

Insider Activity at Moelis & Company

In other news, CFO Joseph Simon sold 8,573 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total transaction of $464,056.49. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Moelis & Company news, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $6,747,370.20. Following the transaction, the chief executive officer now owns 161,810 shares in the company, valued at approximately $8,511,206. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joseph Simon sold 8,573 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $54.13, for a total transaction of $464,056.49. The disclosure for this sale can be found here. Insiders sold a total of 375,185 shares of company stock valued at $20,130,225 over the last ninety days. Insiders own 6.96% of the company’s stock.

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.