Jennison Associates LLC Sells 8,313 Shares of Moelis & Company (NYSE:MC)

Jennison Associates LLC lessened its holdings in shares of Moelis & Company (NYSE:MC) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 93,238 shares of the asset manager’s stock after selling 8,313 shares during the period. Jennison Associates LLC’s holdings in Moelis & Company were worth $5,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mendota Financial Group LLC acquired a new position in Moelis & Company during the 4th quarter worth about $34,000. Neo Ivy Capital Management acquired a new position in shares of Moelis & Company during the third quarter worth approximately $99,000. Strs Ohio grew its stake in shares of Moelis & Company by 28.6% during the third quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock valued at $162,000 after purchasing an additional 800 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Moelis & Company in the third quarter valued at approximately $174,000. Finally, International Assets Investment Management LLC lifted its holdings in Moelis & Company by 890.4% during the 4th quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock worth $180,000 after buying an additional 2,876 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Price Performance

Shares of Moelis & Company stock opened at $49.75 on Friday. The company has a market capitalization of $3.54 billion, a P/E ratio of -261.84 and a beta of 1.35. The business has a 50-day moving average of $54.07 and a two-hundred day moving average of $51.54. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. Moelis & Company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. On average, equities analysts anticipate that Moelis & Company will post 1.47 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.40 annualized dividend and a yield of 4.82%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insiders Place Their Bets

In other news, insider Navid Mahmoodzadegan sold 20,001 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the completion of the transaction, the insider now directly owns 79,859 shares of the company’s stock, valued at $4,457,729.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 20,001 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the sale, the insider now directly owns 79,859 shares of the company’s stock, valued at approximately $4,457,729.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth Moelis sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $4,058,250.00. Following the completion of the transaction, the chief executive officer now owns 86,441 shares of the company’s stock, valued at approximately $4,677,322.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,185 shares of company stock worth $20,130,225. Corporate insiders own 6.96% of the company’s stock.

Wall Street Analysts Forecast Growth

MC has been the subject of several research reports. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. UBS Group increased their price target on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.80.

Moelis & 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, as well as strategic, capital structure, and private funds advisory.