Moelis & co director Kenneth Shropshire sells $184,437 in stock

Published 22/02/2025, 01:14
Moelis & co director Kenneth Shropshire sells $184,437 in stock

Kenneth Shropshire, a director at Moelis & Co (NYSE:MC), has recently sold a portion of his holdings in the company. According to a recent SEC filing, Shropshire sold 2,551 shares of Moelis & Co’s Class A common stock on February 21, 2025, at a price of $72.30 per share. This transaction amounts to a total value of $184,437.

Following this sale, Shropshire retains ownership of 6,940 shares in the company. The transaction was disclosed in a filing with the Securities and Exchange Commission, which was signed by Osamu Watanabe, acting as attorney-in-fact for Kenneth Shropshire.

In other recent news, Moelis & Company reported a substantial increase in its financial results for the fourth quarter and full year ending December 31, 2024. The firm announced fourth-quarter revenues of $438.7 million, marking a 104% rise from the same period in the previous year, with full-year GAAP revenues reaching $1,194.5 million. Keefe, Bruyette & Woods raised its price target for Moelis to $92.00, noting that the company’s revenue figures significantly exceeded their estimates. Additionally, Moelis increased its quarterly dividend by 8% to $0.65 per share, reflecting strong financial performance.

In a strategic move, Moelis & Co granted CEO Ken Moelis a $25 million retention award to ensure leadership continuity, with the units set to vest in 2029. Meanwhile, the company announced the retirement of board member John Allison, effective immediately, after a decade of service. The firm has not indicated a successor or changes to the board’s composition following his departure. These developments illustrate Moelis & Company’s ongoing strategic efforts to maintain strong leadership and financial health.

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