Moelis & Company $MC Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its position in Moelis & Company (NYSE:MC) by 22.8% during the second quarter, Holdings Channel reports. The firm owned 79,551 shares of the asset manager’s stock after selling 23,500 shares during the period. First Eagle Investment Management LLC’s holdings in Moelis & Company were worth $4,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in Moelis & Company by 42.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,663 shares of the asset manager’s stock valued at $272,000 after buying an additional 1,393 shares during the period. Envestnet Asset Management Inc. grew its position in Moelis & Company by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 357,789 shares of the asset manager’s stock worth $20,881,000 after acquiring an additional 4,921 shares during the period. Cerity Partners LLC increased its position in shares of Moelis & Company by 26.2% during the first quarter. Cerity Partners LLC now owns 17,111 shares of the asset manager’s stock valued at $999,000 after acquiring an additional 3,549 shares during the last quarter. Xponance Inc. grew its stake in shares of Moelis & Company by 5.8% in the first quarter. Xponance Inc. now owns 5,373 shares of the asset manager’s stock valued at $314,000 after buying an additional 294 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Moelis & Company by 12.2% in the first quarter. New York State Common Retirement Fund now owns 58,185 shares of the asset manager’s stock valued at $3,396,000 after purchasing an additional 6,321 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MC. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price on the stock. Seaport Res Ptn raised Moelis & Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on Moelis & Company in a report on Thursday, October 9th. They issued a “buy” rating and a $80.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.57.

Moelis & Company Price Performance

NYSE:MC opened at $63.79 on Friday. The business’s 50-day moving average is $69.73 and its two-hundred day moving average is $65.64. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The firm has a market capitalization of $5.01 billion, a PE ratio of 21.34 and a beta of 1.80.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The business had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. Equities analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.60 annualized dividend and a dividend yield of 4.1%. Moelis & Company’s dividend payout ratio is 86.96%.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. This represents a 26.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.

Moelis & 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.