Vestmark Advisory Solutions Inc. Sells 44,693 Shares of Moelis & Company $MC

Vestmark Advisory Solutions Inc. decreased its position in Moelis & Company (NYSE:MC) by 46.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,623 shares of the asset manager’s stock after selling 44,693 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Moelis & Company were worth $3,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MC. Fulton Bank N.A. grew its holdings in shares of Moelis & Company by 2.9% during the second quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager’s stock worth $410,000 after buying an additional 188 shares in the last quarter. Choreo LLC lifted its stake in Moelis & Company by 5.1% in the 1st quarter. Choreo LLC now owns 5,075 shares of the asset manager’s stock valued at $296,000 after acquiring an additional 244 shares in the last quarter. Peak Financial Advisors LLC lifted its stake in Moelis & Company by 2.9% in the 2nd quarter. Peak Financial Advisors LLC now owns 8,814 shares of the asset manager’s stock valued at $549,000 after acquiring an additional 247 shares in the last quarter. New England Research & Management Inc. boosted its position in Moelis & Company by 1.7% during the 2nd quarter. New England Research & Management Inc. now owns 15,375 shares of the asset manager’s stock worth $958,000 after acquiring an additional 250 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Moelis & Company by 5.8% during the 1st quarter. Xponance Inc. now owns 5,373 shares of the asset manager’s stock worth $314,000 after acquiring an additional 294 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Trading Up 1.4%

NYSE:MC opened at $63.79 on Friday. The stock has a market capitalization of $5.01 billion, a PE ratio of 21.34 and a beta of 1.80. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm has a fifty day simple moving average of $69.73 and a 200 day simple moving average of $65.64.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million for the quarter, compared to analyst estimates of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio is presently 86.96%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MC. Seaport Res Ptn upgraded shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. Morgan Stanley raised their target price on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. BMO Capital Markets assumed coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price target on the stock. Zacks Research downgraded shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a report on Thursday, October 9th. They issued a “buy” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.57.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,615 shares of the firm’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 sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.