Moran Wealth Management LLC Raises Position in Moelis & Company (NYSE:MC)

Moran Wealth Management LLC raised its holdings in Moelis & Company (NYSE:MC) by 3.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 56,432 shares of the asset manager’s stock after acquiring an additional 1,654 shares during the quarter. Moran Wealth Management LLC’s holdings in Moelis & Company were worth $2,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in shares of Moelis & Company in the 1st quarter valued at $53,000. Tower Research Capital LLC TRC raised its holdings in shares of Moelis & Company by 380.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 1,091 shares in the last quarter. Covestor Ltd raised its holdings in shares of Moelis & Company by 230.3% in the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 1,073 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Moelis & Company by 121.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,221 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 2,314 shares in the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Moelis & Company in the 1st quarter valued at $201,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MC shares. StockNews.com lowered shares of Moelis & Company from a “hold” rating to a “sell” rating in a report on Monday. Morgan Stanley reduced their price objective on shares of Moelis & Company from $39.00 to $38.00 and set an “underweight” rating on the stock in a report on Friday, November 3rd. Finally, UBS Group lifted their price target on shares of Moelis & Company from $29.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a sell rating, According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $36.67.

Insider Buying and Selling at Moelis & Company

In other news, CEO Kenneth Moelis sold 19,675 shares of Moelis & Company stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $41.66, for a total value of $819,660.50. Following the sale, the chief executive officer now owns 5,308 shares of the company’s stock, valued at $221,131.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Stock Performance

NYSE MC opened at $44.69 on Tuesday. The firm has a market cap of $3.18 billion, a PE ratio of 29.21 and a beta of 1.41. Moelis & Company has a one year low of $33.87 and a one year high of $52.50. The firm’s fifty day moving average is $43.76 and its two-hundred day moving average is $44.01.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Monday, November 13th will be paid a $0.60 dividend. The ex-dividend date is Friday, November 10th. This represents a $2.40 dividend on an annualized basis and a yield of 5.37%. Moelis & Company’s dividend payout ratio is presently 156.86%.

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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.