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Kenneth Moelis, Chairman and CEO of Moelis & Co (NYSE:MC), recently sold shares valued at $718,688. The transactions, disclosed in a recent SEC filing, show that Moelis sold 9,712 shares of Class A Common Stock at a price of $74 per share on February 19, 2025. This sale was part of a series of transactions that also included the acquisition of shares through the settlement of Restricted Stock Units (RSUs).
The RSUs, which were settled for Class A Common Stock on the same day, resulted in the acquisition of 58,860.53 shares. Additionally, a small portion of the stock, amounting to 0.53 shares, was disposed of to cover tax obligations from the RSU settlement, priced at $74 per share, totaling $39. The stock has shown strong performance with a 33.34% return over the past year, while maintaining its 12-year streak of consistent dividend payments.
Following these transactions, Kenneth Moelis holds 209,235 shares of Moelis & Co. The stock sales were primarily conducted to satisfy tax obligations arising from the RSU settlement.
In other recent news, Moelis & Company reported a significant increase in its financial results for the fourth quarter and the full year ending December 31, 2024. The firm’s fourth-quarter revenues reached $438.7 million, marking a 104% increase from the previous year, while full-year GAAP revenues totaled $1,194.5 million, with adjusted revenues slightly higher at $1,201.5 million, reflecting a 40% rise. Additionally, Moelis & Company increased its quarterly dividend by 8% to $0.65 per share, highlighting its strong financial performance and commitment to returning value to shareholders. In a strategic move, Moelis & Co awarded its CEO, Ken Moelis, a $25 million retention grant to ensure leadership continuity, with the units vesting in 2029. Meanwhile, Keefe, Bruyette & Woods raised the price target for Moelis to $92, citing the company’s revenue figures that exceeded expectations by over $100 million, and maintained an Outperform rating. The firm also noted Moelis’ effective cost management and positive earnings call. Furthermore, Moelis announced the retirement of board member John Allison, who concluded a decade of service, with no immediate changes to the board’s composition reported. These developments reflect the company’s ongoing strategic initiatives and strong financial health.
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