Aviva PLC Trims Position in Moelis & Company (NYSE:MC)

Posted by Defense World Staff on Feb 28th, 2023

Aviva PLC reduced its position in Moelis & Company (NYSE:MC – Get Rating) by 14.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 39,735 shares of the asset manager’s stock after selling 6,969 shares during the period. Aviva PLC owned about 0.06% of Moelis & Company worth $1,343,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. FORA Capital LLC acquired a new position in shares of Moelis & Company during the 3rd quarter valued at about $265,000. Hsbc Holdings PLC raised its position in shares of Moelis & Company by 18.7% in the 3rd quarter. Hsbc Holdings PLC now owns 11,907 shares of the asset manager’s stock worth $408,000 after buying an additional 1,876 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Moelis & Company by 46.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,553 shares of the asset manager’s stock valued at $830,000 after acquiring an additional 7,773 shares during the last quarter. CenterBook Partners LP grew its position in Moelis & Company by 19.3% during the third quarter. CenterBook Partners LP now owns 37,861 shares of the asset manager’s stock valued at $1,280,000 after acquiring an additional 6,124 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Moelis & Company by 27.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 20,726 shares of the asset manager’s stock worth $701,000 after purchasing an additional 4,496 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods downgraded shares of Moelis & Company from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $40.00 to $37.00 in a research report on Thursday, November 3rd. The Goldman Sachs Group increased their target price on Moelis & Company from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Thursday, February 9th. JPMorgan Chase & Co. reduced their price target on Moelis & Company from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Finally, UBS Group decreased their target price on shares of Moelis & Company from $32.00 to $30.00 and set a “sell” rating for the company in a research note on Monday, January 9th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $38.86.

Moelis & Company Stock Performance

MC opened at $43.03 on Tuesday. The company has a market capitalization of $2.95 billion, a P/E ratio of 20.01 and a beta of 1.43. The company has a 50-day moving average of $43.74 and a 200-day moving average of $41.98. Moelis & Company has a 1-year low of $33.12 and a 1-year high of $50.23.

Moelis & Company (NYSE:MC – Get Rating) last posted its quarterly earnings results on Wednesday, February 8th. The asset manager reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). Moelis & Company had a return on equity of 37.77% and a net margin of 15.26%. The firm had revenue of $207.18 million during the quarter, compared to analyst estimates of $211.34 million. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue for the quarter was down 51.3% on a year-over-year basis. As a group, sell-side analysts expect that Moelis & Company will post 1.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, February 21st will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.58%. The ex-dividend date is Friday, February 17th. Moelis & Company’s dividend payout ratio (DPR) is presently 111.63%.

Insiders Place Their Bets

In other Moelis & Company news, insider Christopher Callesano sold 1,155 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $46.92, for a total transaction of $54,192.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Kenneth Moelis sold 73,976 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $46.18, for a total transaction of $3,416,211.68. Following the completion of the transaction, the chief executive officer now owns 104,769 shares in the company, valued at approximately $4,838,232.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Callesano sold 1,155 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $46.92, for a total value of $54,192.60. The disclosure for this sale can be found here. Insiders sold a total of 288,405 shares of company stock valued at $12,871,701 over the last 90 days. 7.97% of the stock is owned by company insiders.

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.