Wells Fargo & Company MN Has $60.48 Million Stock Holdings in Moelis & Company (NYSE:MC)

Wells Fargo & Company MN lessened its holdings in shares of Moelis & Company (NYSE:MC) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,077,545 shares of the asset manager’s stock after selling 12,870 shares during the period. Wells Fargo & Company MN owned approximately 1.51% of Moelis & Company worth $60,483,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MC. Mendota Financial Group LLC acquired a new position in shares of Moelis & Company during the 4th quarter worth about $34,000. GAMMA Investing LLC bought a new position in Moelis & Company during the fourth quarter valued at about $34,000. Neo Ivy Capital Management bought a new position in Moelis & Company during the third quarter valued at about $99,000. Quantbot Technologies LP bought a new position in Moelis & Company during the third quarter valued at about $174,000. Finally, International Assets Investment Management LLC increased its stake in Moelis & Company by 890.4% during the fourth quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock valued at $180,000 after acquiring an additional 2,876 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Navid Mahmoodzadegan sold 50,772 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $54.11, for a total value of $2,747,272.92. Following the transaction, the insider now directly owns 64,463 shares in the company, valued at approximately $3,488,092.93. The disclosure for this sale can be found here. Insiders have sold 219,325 shares of company stock valued at $11,899,081 in the last three months. 6.96% of the stock is owned by corporate insiders.

Moelis & Company Trading Up 2.2 %

MC stock opened at $57.88 on Friday. Moelis & Company has a 1-year low of $37.34 and a 1-year high of $58.67. The business’s 50 day moving average is $54.33 and its 200-day moving average is $53.21.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. The business had revenue of $217.49 million for the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. Moelis & Company’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. On average, analysts forecast that Moelis & Company will post 1.3 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 6th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, May 3rd. Moelis & Company’s payout ratio is currently -1,263.16%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. upped their price objective on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.80.

About Moelis & Company

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.