First Eagle Investment Management LLC Lowers Position in Moelis & Company $MC

First Eagle Investment Management LLC reduced its position in shares of Moelis & Company (NYSE:MC) by 22.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,551 shares of the asset manager’s stock after selling 23,500 shares during the period. First Eagle Investment Management LLC owned 0.10% of Moelis & Company worth $4,958,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Moelis & Company by 214.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock valued at $171,713,000 after purchasing an additional 2,006,747 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Moelis & Company by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock worth $137,548,000 after buying an additional 579,529 shares in the last quarter. Jennison Associates LLC increased its position in shares of Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager’s stock valued at $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Millennium Management LLC raised its position in Moelis & Company by 311.4% in the 1st quarter. Millennium Management LLC now owns 465,677 shares of the asset manager’s stock worth $27,177,000 after purchasing an additional 352,490 shares during the period. Finally, Nuveen LLC purchased a new position in Moelis & Company in the 1st quarter worth approximately $19,561,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $63.79 on Friday. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The business’s 50 day moving average price is $69.73 and its 200-day moving average price is $65.64. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 21.34 and a beta of 1.80.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The company had revenue of $356.89 million during the quarter, compared to analysts’ expectations of $336.14 million. During the same period in the previous year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 30.4% on a year-over-year basis. Sell-side analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, November 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.1%. Moelis & Company’s dividend payout ratio (DPR) is currently 86.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MC shares. Zacks Research cut Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a report on Wednesday, October 8th. Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. BMO Capital Markets assumed coverage on Moelis & Company in a research report on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their price objective on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.57.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the transaction, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. The trade was a 26.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by company insiders.

Moelis & Company Profile

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.