Moelis & Company (NYSE:MC) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its stake in shares of Moelis & Company (NYSE:MC) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 435,383 shares of the asset manager’s stock after selling 6,205 shares during the quarter. Moelis & Company makes up approximately 2.0% of Tributary Capital Management LLC’s portfolio, making the stock its 6th largest position. Tributary Capital Management LLC owned about 0.61% of Moelis & Company worth $24,717,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in Moelis & Company during the third quarter valued at approximately $212,000. Envestnet Asset Management Inc. raised its position in Moelis & Company by 30.1% during the third quarter. Envestnet Asset Management Inc. now owns 161,695 shares of the asset manager’s stock valued at $7,297,000 after acquiring an additional 37,372 shares in the last quarter. FMR LLC raised its position in Moelis & Company by 0.9% during the third quarter. FMR LLC now owns 121,809 shares of the asset manager’s stock valued at $5,497,000 after acquiring an additional 1,029 shares in the last quarter. Northern Trust Corp raised its position in Moelis & Company by 32.7% during the third quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock valued at $41,867,000 after acquiring an additional 228,840 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in Moelis & Company by 6.5% during the third quarter. Natixis Advisors L.P. now owns 123,023 shares of the asset manager’s stock valued at $5,552,000 after acquiring an additional 7,468 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now owns 42,441 shares in the company, valued at $2,290,965.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of Moelis & Company stock in a transaction on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company 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 sale, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Moelis & Company Price Performance

MC stock traded up $0.30 on Monday, reaching $57.16. 468,208 shares of the company were exchanged, compared to its average volume of 609,591. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $58.67. The stock’s fifty day moving average price is $54.19 and its 200 day moving average price is $54.60. The firm has a market capitalization of $4.27 billion, a PE ratio of -300.84 and a beta of 1.35.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. Moelis & Company’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts expect that Moelis & Company will post 1.29 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, May 6th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Friday, May 3rd. Moelis & Company’s dividend payout ratio (DPR) is currently -1,263.16%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. UBS Group lifted their price target on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.80.

Moelis & Company Profile

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.