Moelis & Co (NYSE:MC) CEO Kenneth Moelis sold 49,116 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $50.00, for a total transaction of $2,455,800.00. Following the transaction, the chief executive officer now owns 98,232 shares of the company’s stock, valued at approximately $4,911,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Moelis & Co (NYSE:MC) opened at $51.40 on Tuesday. The firm has a market cap of $2,740.00, a PE ratio of 8.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.85. Moelis & Co has a 1 year low of $34.60 and a 1 year high of $54.36.
Moelis & Co (NYSE:MC) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $169.17 million during the quarter, compared to analyst estimates of $160.22 million. Moelis & Co had a net margin of 4.29% and a return on equity of 48.98%. The company’s quarterly revenue was down 17.3% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. equities analysts expect that Moelis & Co will post 2.73 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of MC. American Century Companies Inc. boosted its position in Moelis & Co by 636.3% during the third quarter. American Century Companies Inc. now owns 564,299 shares of the asset manager’s stock worth $24,293,000 after purchasing an additional 487,660 shares during the period. BlackRock Inc. boosted its position in Moelis & Co by 7.5% during the fourth quarter. BlackRock Inc. now owns 3,535,231 shares of the asset manager’s stock worth $171,458,000 after purchasing an additional 247,956 shares during the period. Pier Capital LLC bought a new position in Moelis & Co during the third quarter worth about $7,145,000. APG Asset Management N.V. purchased a new stake in shares of Moelis & Co in the fourth quarter worth about $5,618,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Moelis & Co by 334.8% in the third quarter. Citadel Advisors LLC now owns 168,525 shares of the asset manager’s stock worth $7,256,000 after buying an additional 129,764 shares in the last quarter. Hedge funds and other institutional investors own 58.69% of the company’s stock.
MC has been the subject of several research reports. Zacks Investment Research upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Tuesday, October 31st. Bank of America increased their target price on shares of Moelis & Co from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. ValuEngine upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley increased their target price on shares of Moelis & Co from $49.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.67.
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About Moelis & Co
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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