Deprince Race & Zollo Inc. Reduces Holdings in Moelis & Company (MC)
Deprince Race & Zollo Inc. trimmed its holdings in shares of Moelis & Company (NYSE:MC) by 56.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 386,907 shares of the asset manager’s stock after selling 511,332 shares during the period. Deprince Race & Zollo Inc. owned 0.73% of Moelis & worth $16,656,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in shares of Moelis & by 150.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after acquiring an additional 81,877 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Moelis & by 76.7% in the 2nd quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after acquiring an additional 213,740 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Moelis & in the 2nd quarter worth about $875,000. Wells Fargo & Company MN increased its holdings in shares of Moelis & by 34.2% in the 2nd quarter. Wells Fargo & Company MN now owns 78,204 shares of the asset manager’s stock worth $3,038,000 after acquiring an additional 19,934 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Moelis & by 17.4% in the 1st quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after acquiring an additional 47,402 shares during the period. 90.80% of the stock is currently owned by institutional investors.
In other Moelis & news, Chairman Kenneth Moelis sold 40,800 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $42.66, for a total transaction of $1,740,528.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 80,956 shares of company stock valued at $3,451,515 over the last ninety days. Insiders own 52.64% of the company’s stock.
A number of equities analysts recently issued reports on MC shares. JMP Securities increased their target price on shares of Moelis & from $42.00 to $44.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 25th. Morgan Stanley increased their target price on shares of Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. BidaskClub lowered shares of Moelis & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Moelis & from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, October 31st. Finally, Bank of America Corporation increased their target price on shares of Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.00.
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Moelis & Company (NYSE MC) traded up $0.30 during trading hours on Friday, hitting $44.45. 277,900 shares of the stock traded hands, compared to its average volume of 341,536. Moelis & Company has a one year low of $28.20 and a one year high of $45.50. The company has a market cap of $2,352.84, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.87.
Moelis & (NYSE:MC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Moelis & had a net margin of 9.62% and a return on equity of 52.76%. The company had revenue of $170.00 million during the quarter, compared to analyst estimates of $168.51 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. equities analysts forecast that Moelis & Company will post 2.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, November 3rd. Moelis &’s dividend payout ratio is presently 70.81%.
Moelis & Profile
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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