Moelis & Company (NYSE:MC) Shares Gap Down to $53.99

Moelis & Company (NYSE:MC) gapped down before the market opened on Thursday . The stock had previously closed at $53.99, but opened at $50.55. Moelis & Company shares last traded at $49.99, with a volume of 495,067 shares.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. StockNews.com upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, UBS Group upped their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $50.80.

Moelis & Company Stock Performance

The company has a market cap of $3.58 billion, a price-to-earnings ratio of -138.08 and a beta of 1.35. The business’s 50 day moving average price is $54.31 and its 200-day moving average price is $51.51.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. On average, equities research analysts expect that Moelis & Company will post 1.47 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio (DPR) is currently -666.67%.

Insider Buying and Selling

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Osamu R. Watanabe sold 7,685 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $404,231.00. Following the sale, the general counsel now directly owns 6,000 shares in the company, valued at approximately $315,600. The disclosure for this sale can be found here. Insiders sold 375,185 shares of company stock worth $20,130,225 in the last quarter. 6.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MC. Mendota Financial Group LLC acquired a new stake in Moelis & Company during the 4th quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in Moelis & Company during the 4th quarter worth approximately $34,000. Hexagon Capital Partners LLC raised its holdings in Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after buying an additional 392 shares during the period. Assetmark Inc. raised its holdings in Moelis & Company by 22.5% during the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after buying an additional 276 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Moelis & Company during the 3rd quarter worth approximately $99,000. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

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.