Cinctive Capital Management LP Buys 45,490 Shares of Moelis & Company (NYSE:MC)

Cinctive Capital Management LP boosted its position in shares of Moelis & Company (NYSE:MC) by 303.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,457 shares of the asset manager’s stock after acquiring an additional 45,490 shares during the period. Cinctive Capital Management LP owned approximately 0.08% of Moelis & Company worth $4,467,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MC. Cerity Partners LLC increased its position in shares of Moelis & Company by 129.8% during the third quarter. Cerity Partners LLC now owns 13,845 shares of the asset manager’s stock valued at $949,000 after purchasing an additional 7,819 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Moelis & Company by 32.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 42,526 shares of the asset manager’s stock valued at $2,913,000 after purchasing an additional 10,377 shares during the period. Captrust Financial Advisors grew its position in Moelis & Company by 31.5% in the third quarter. Captrust Financial Advisors now owns 5,458 shares of the asset manager’s stock valued at $374,000 after acquiring an additional 1,306 shares during the period. Verition Fund Management LLC acquired a new position in Moelis & Company during the third quarter worth $779,000. Finally, Paloma Partners Management Co bought a new position in shares of Moelis & Company during the third quarter valued at $292,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

NYSE MC opened at $60.15 on Thursday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 34.18 and a beta of 1.43. The business has a 50 day simple moving average of $69.00 and a 200 day simple moving average of $71.30. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. On average, analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, February 18th were paid a $0.65 dividend. This is an increase from Moelis & Company’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.32%. Moelis & Company’s dividend payout ratio (DPR) is currently 147.73%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MC shares. The Goldman Sachs Group dropped their target price on shares of Moelis & Company from $86.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley restated an “underweight” rating and set a $70.00 target price (down from $100.00) on shares of Moelis & Company in a research report on Thursday, March 13th. Finally, StockNews.com downgraded Moelis & Company from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.83.

Insider Activity

In other news, insider Christopher Callesano sold 1,282 shares of Moelis & Company stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $94,868.00. Following the sale, the insider now directly owns 1,227 shares in the company, valued at $90,798. This trade represents a 51.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Shropshire sold 2,551 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $72.30, for a total transaction of $184,437.30. Following the transaction, the director now owns 6,940 shares of the company’s stock, valued at $501,762. The trade was a 26.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,721 shares of company stock worth $1,677,017 over the last three months. Corporate insiders own 6.40% of the company’s stock.

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.