Natixis Decreases Holdings in Moelis & Company (NYSE:MC)

Natixis cut its stake in Moelis & Company (NYSE:MC) by 59.6% during the 1st quarter, HoldingsChannel reports. The firm owned 6,300 shares of the asset manager’s stock after selling 9,300 shares during the quarter. Natixis’ holdings in Moelis & Company were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gabelli Funds LLC raised its holdings in shares of Moelis & Company by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock valued at $1,490,000 after buying an additional 950 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in shares of Moelis & Company during the first quarter valued at approximately $3,213,000. Evoke Wealth LLC acquired a new position in shares of Moelis & Company during the fourth quarter worth $3,079,000. Natixis Advisors L.P. boosted its stake in shares of Moelis & Company by 19.0% in the fourth quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock valued at $8,219,000 after purchasing an additional 23,426 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new stake in Moelis & Company during the 1st quarter valued at $801,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the sale, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Moelis & Company Price Performance

Shares of MC opened at $68.14 on Friday. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $68.50. The business’s fifty day moving average price is $57.64 and its 200 day moving average price is $55.38. The stock has a market capitalization of $5.10 billion, a PE ratio of -358.63 and a beta of 1.35.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $264.59 million during the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.40%. The company’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) EPS. As a group, research analysts anticipate that Moelis & Company will post 1.03 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, August 5th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, August 5th. Moelis & Company’s payout ratio is -1,263.16%.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Morgan Stanley raised their price objective on Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report on Thursday. JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group lifted their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Moelis & Company presently has a consensus rating of “Hold” and an average target price of $56.00.

Moelis & Company 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.