Russell Investments Group Ltd. Sells 4,218 Shares of Moelis & Company (NYSE:MC)

Russell Investments Group Ltd. trimmed its stake in Moelis & Company (NYSE:MC – Get Rating) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,158 shares of the asset manager’s stock after selling 4,218 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Moelis & Company worth $1,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FourThought Financial LLC lifted its stake in shares of Moelis & Company by 74.5% during the 3rd quarter. FourThought Financial LLC now owns 1,251 shares of the asset manager’s stock valued at $42,000 after buying an additional 534 shares in the last quarter. Signaturefd LLC lifted its position in shares of Moelis & Company by 264.6% during the third quarter. Signaturefd LLC now owns 1,265 shares of the asset manager’s stock worth $43,000 after acquiring an additional 918 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Moelis & Company by 230.3% in the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $72,000 after acquiring an additional 1,073 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Moelis & Company in the third quarter valued at $96,000. Finally, Glassy Mountain Advisors Inc. purchased a new stake in Moelis & Company during the 4th quarter worth about $115,000. 90.35% of the stock is owned by institutional investors.

Moelis & Company Price Performance

Shares of NYSE:MC opened at $37.63 on Tuesday. The company’s fifty day moving average price is $38.24 and its 200-day moving average price is $41.38. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 29.87 and a beta of 1.44. Moelis & Company has a one year low of $33.12 and a one year high of $50.23.

Moelis & Company (NYSE:MC – Get Rating) last released its earnings results on Wednesday, April 26th. The asset manager reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.06). Moelis & Company had a net margin of 10.14% and a return on equity of 22.47%. The firm had revenue of $187.20 million during the quarter, compared to the consensus estimate of $186.60 million. During the same period in the prior year, the company earned $0.95 EPS. The firm’s revenue was down 38.0% compared to the same quarter last year. As a group, equities research analysts expect that Moelis & Company will post 0.45 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, May 8th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, May 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.38%. Moelis & Company’s dividend payout ratio is 190.48%.

Insider Buying and Selling

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 23,323 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $43.05, for a total transaction of $1,004,055.15. Following the transaction, the insider now directly owns 99,860 shares in the company, valued at $4,298,973. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jeffrey Raich sold 36,592 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $42.06, for a total value of $1,539,059.52. Following the completion of the sale, the insider now owns 44,710 shares of the company’s stock, valued at approximately $1,880,502.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Navid Mahmoodzadegan sold 23,323 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $43.05, for a total value of $1,004,055.15. Following the sale, the insider now owns 99,860 shares of the company’s stock, valued at $4,298,973. The disclosure for this sale can be found here. Insiders sold 179,896 shares of company stock worth $7,655,779 in the last quarter. 7.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MC. Morgan Stanley reduced their target price on Moelis & Company from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Wednesday, April 12th. StockNews.com initiated coverage on shares of Moelis & Company in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group upped their price target on shares of Moelis & Company from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Thursday, February 9th. Five equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Reduce” and a consensus price target of $37.86.

Moelis & Company 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.