Moelis & Company (MC) Shares Sold by Comerica Bank
Comerica Bank reduced its stake in shares of Moelis & Company (NYSE:MC) by 51.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,263 shares of the asset manager’s stock after selling 44,123 shares during the quarter. Comerica Bank owned approximately 0.08% of Moelis & Company worth $1,807,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MC. Ffcm LLC bought a new stake in shares of Moelis & Company during the 2nd quarter valued at $112,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Moelis & Company by 594.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock valued at $116,000 after buying an additional 2,549 shares in the last quarter. Advisor Group Inc. bought a new stake in shares of Moelis & Company during the 3rd quarter valued at $138,000. Nisa Investment Advisors LLC bought a new stake in shares of Moelis & Company during the 2nd quarter valued at $144,000. Finally, SG Americas Securities LLC bought a new stake in shares of Moelis & Company during the 2nd quarter valued at $171,000. 56.79% of the stock is currently owned by institutional investors and hedge funds.
In other Moelis & Company news, CEO Kenneth Moelis sold 9,500 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $42.41, for a total value of $402,895.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 80,956 shares of company stock valued at $3,451,515. 52.64% of the stock is owned by insiders.
Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. Moelis & Company had a return on equity of 52.76% and a net margin of 9.62%. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $168.51 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Moelis & Company’s revenue was up 12.8% on a year-over-year basis. equities analysts expect that Moelis & Company will post 2.42 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, November 3rd. Moelis & Company’s dividend payout ratio (DPR) is 70.81%.
A number of analysts have recently commented on the stock. JMP Securities boosted their target price on shares of Moelis & Company from $44.00 to $47.00 and gave the company a “market outperform” rating in a report on Thursday, October 26th. Morgan Stanley upped their price target on shares of Moelis & Company from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Moelis & Company from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, UBS upped their price target on shares of Moelis & Company from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.00.
Moelis & Company 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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