AlphaCrest Capital Management LLC bought a new position in shares of Moelis & Company (NYSE:MC – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,469 shares of the asset manager’s stock, valued at approximately $726,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eaton Vance Management raised its position in shares of Moelis & Company by 1.7% during the third quarter. Eaton Vance Management now owns 14,731 shares of the asset manager’s stock valued at $498,000 after buying an additional 244 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in Moelis & Company during the third quarter worth $1,190,000. Heritage Wealth Management LLC boosted its stake in Moelis & Company by 9.9% during the third quarter. Heritage Wealth Management LLC now owns 6,393 shares of the asset manager’s stock worth $216,000 after buying an additional 577 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Moelis & Company by 75.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 35,615 shares of the asset manager’s stock valued at $1,204,000 after buying an additional 15,353 shares during the period. Finally, FORA Capital LLC acquired a new position in shares of Moelis & Company in the 3rd quarter valued at $265,000. Institutional investors and hedge funds own 90.35% of the company’s stock.
Moelis & Company Trading Down 1.9 %
Shares of Moelis & Company stock opened at $41.44 on Wednesday. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 19.27 and a beta of 1.46. The firm’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $41.75. Moelis & Company has a 1-year low of $33.12 and a 1-year high of $50.23.
Moelis & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, February 21st will be issued a $0.60 dividend. The ex-dividend date is Friday, February 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.79%. Moelis & Company’s dividend payout ratio is 111.63%.
Insider Buying and Selling
In other Moelis & Company news, CEO Kenneth Moelis sold 12,310 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $46.03, for a total value of $566,629.30. Following the completion of the sale, the chief executive officer now owns 181,113 shares in the company, valued at approximately $8,336,631.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeffrey Raich sold 42,637 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $45.30, for a total transaction of $1,931,456.10. Following the transaction, the insider now owns 55,257 shares of the company’s stock, valued at $2,503,142.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth Moelis sold 12,310 shares of Moelis & Company stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $46.03, for a total value of $566,629.30. Following the completion of the sale, the chief executive officer now owns 181,113 shares of the company’s stock, valued at $8,336,631.39. The disclosure for this sale can be found here. Insiders have sold a total of 370,067 shares of company stock worth $16,395,758 in the last 90 days. Corporate insiders own 7.97% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on MC. UBS Group lowered their target price on shares of Moelis & Company from $32.00 to $30.00 and set a “sell” rating on the stock in a research note on Monday, January 9th. The Goldman Sachs Group increased their target price on 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 given a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has an average rating of “Reduce” and a consensus target price of $38.86.
About Moelis & Company
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.
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