Illinois Municipal Retirement Fund Lowers Holdings in Moelis & Company (NYSE:MC)

Illinois Municipal Retirement Fund trimmed its holdings in Moelis & Company (NYSE:MC) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,110 shares of the asset manager’s stock after selling 3,705 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Moelis & Company worth $2,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Mendota Financial Group LLC bought a new stake in Moelis & Company during the fourth quarter worth approximately $34,000. Neo Ivy Capital Management bought a new position in shares of Moelis & Company during the third quarter valued at approximately $99,000. Strs Ohio grew its stake in Moelis & Company by 28.6% in the third quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock worth $162,000 after purchasing an additional 800 shares in the last quarter. Quantbot Technologies LP bought a new position in Moelis & Company in the third quarter worth approximately $174,000. Finally, International Assets Investment Management LLC grew its stake in Moelis & Company by 890.4% in the fourth quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock worth $180,000 after purchasing an additional 2,876 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Stock Performance

Shares of MC stock opened at $50.26 on Friday. The business has a fifty day moving average of $54.19 and a 200 day moving average of $51.50. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67.

Moelis & Company (NYSE:MC) last issued 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 company had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. Equities research analysts anticipate that Moelis & Company will post 1.47 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 6th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, May 3rd. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insiders Place Their Bets

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Kenneth Moelis sold 128,277 shares of Moelis & Company stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the completion of the transaction, the chief executive officer now owns 161,810 shares in the company, valued at approximately $8,511,206. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,185 shares of company stock valued at $20,130,225. Company insiders own 6.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MC. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a report on Thursday. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, UBS Group increased their price objective on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.80.

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.