Adirondack Retirement Specialists Inc. Has $11.43 Million Position in Moelis & Company (NYSE:MC)

Adirondack Retirement Specialists Inc. trimmed its position in Moelis & Company (NYSE:MC – Get Rating) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,988 shares of the asset manager’s stock after selling 40,603 shares during the quarter. Moelis & Company makes up approximately 11.6% of Adirondack Retirement Specialists Inc.’s portfolio, making the stock its 3rd largest position. Adirondack Retirement Specialists Inc. owned approximately 0.43% of Moelis & Company worth $11,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaCrest Capital Management LLC purchased a new stake in shares of Moelis & Company in the third quarter worth approximately $726,000. Russell Investments Group Ltd. raised its position in Moelis & Company by 15,880.8% during the third quarter. Russell Investments Group Ltd. now owns 53,376 shares of the asset manager’s stock valued at $1,802,000 after acquiring an additional 53,042 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in Moelis & Company by 76.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 53,877 shares of the asset manager’s stock valued at $1,822,000 after acquiring an additional 23,338 shares in the last quarter. First Trust Advisors LP raised its position in Moelis & Company by 23.3% during the third quarter. First Trust Advisors LP now owns 253,837 shares of the asset manager’s stock valued at $8,582,000 after acquiring an additional 48,007 shares in the last quarter. Finally, CX Institutional raised its position in shares of Moelis & Company by 54.4% in the third quarter. CX Institutional now owns 6,409 shares of the asset manager’s stock valued at $217,000 after purchasing an additional 2,258 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Down 0.3 %

Moelis & Company stock opened at $36.47 on Monday. The stock has a 50-day simple moving average of $38.25 and a 200 day simple moving average of $41.39. Moelis & Company has a 12-month low of $33.12 and a 12-month high of $50.23. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 28.94 and a beta of 1.44.

Moelis & Company (NYSE:MC – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The asset manager reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). The firm had revenue of $187.20 million for the quarter, compared to the consensus estimate of $186.60 million. Moelis & Company had a return on equity of 22.47% and a net margin of 10.14%. The business’s revenue for the quarter was down 38.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, sell-side analysts anticipate that Moelis & Company will post 0.45 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, May 8th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 5th. This represents a $2.40 annualized dividend and a dividend yield of 6.58%. Moelis & Company’s dividend payout ratio is presently 190.48%.

Insider Activity at Moelis & Company

In other news, CEO Kenneth Moelis sold 45,507 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $42.06, for a total transaction of $1,914,024.42. Following the sale, the chief executive officer now owns 98,291 shares in the company, valued at approximately $4,134,119.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Elizabeth Crain sold 10,419 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $42.06, for a total value of $438,223.14. Following the sale, the chief operating officer now owns 11,176 shares in the company, valued at approximately $470,062.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth Moelis sold 45,507 shares of the stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $42.06, for a total value of $1,914,024.42. Following the completion of the sale, the chief executive officer now owns 98,291 shares in the company, valued at approximately $4,134,119.46. The disclosure for this sale can be found here. In the last three months, insiders sold 179,896 shares of company stock worth $7,655,779. 7.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MC shares. Morgan Stanley lowered their price objective on shares of Moelis & Company from $30.00 to $29.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 12th. StockNews.com assumed coverage on Moelis & Company in a report on Thursday. They set a “hold” rating for the company. Finally, The Goldman Sachs Group lifted their price objective on Moelis & Company from $38.00 to $42.00 and gave the company a “sell” rating in a report on Thursday, February 9th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $37.86.

Moelis & Company Profile

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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.