Tributary Capital Management LLC Sells 10,818 Shares of Moelis & Company $MC

Tributary Capital Management LLC decreased its stake in shares of Moelis & Company (NYSE:MC) by 2.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 414,964 shares of the asset manager’s stock after selling 10,818 shares during the period. Moelis & Company accounts for about 2.3% of Tributary Capital Management LLC’s holdings, making the stock its 4th largest position. Tributary Capital Management LLC owned about 0.53% of Moelis & Company worth $25,861,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MC. eCIO Inc. acquired a new position in shares of Moelis & Company during the 1st quarter valued at about $50,000. GAMMA Investing LLC grew its holdings in Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock valued at $95,000 after buying an additional 457 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Moelis & Company in the 1st quarter valued at approximately $107,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Moelis & Company in the 1st quarter valued at approximately $124,000. Finally, Petrus Trust Company LTA acquired a new stake in Moelis & Company in the 1st quarter valued at approximately $221,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Trading Down 0.4%

Shares of NYSE:MC opened at $68.73 on Thursday. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm has a market capitalization of $5.40 billion, a PE ratio of 27.06 and a beta of 1.77. The business’s 50 day moving average is $71.15 and its 200-day moving average is $64.21.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. The company had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.Moelis & Company’s revenue for the quarter was up 38.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. On average, sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MC. Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating on the stock in a report on Monday, October 13th. Zacks Research lowered Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Morgan Stanley raised their target price on Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Moelis & Company in a report on Thursday, October 9th. They issued a “buy” rating and a $80.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average target price of $71.86.

Insider Activity at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel owned 131 shares in the company, valued at $9,515.84. This trade represents a 97.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares of the company’s stock, valued at $515,544.68. This trade represents a 26.89% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Moelis & Company Company Profile

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.