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Osamu R. Watanabe, the General Counsel and Secretary of Moelis & Co (NYSE:MC), recently sold shares of the company’s Class A Common Stock, according to a regulatory filing. On February 19, Watanabe sold 5,661 shares at a price of $74 per share, totaling $418,914.
The transaction was part of a series of activities involving the company’s stock. Watanabe also acquired 12,003.91 shares through the settlement of Restricted Stock Units (RSUs), which did not involve any cash transactions. Additionally, he disposed of 2.91 shares to cover tax obligations, valued at $215.
Following these transactions, Watanabe’s direct ownership stands at 6,471 shares. These moves reflect the executive’s ongoing management of personal stock holdings related to his compensation package.
In other recent news, Moelis & Company reported a substantial increase in its financial results for the fourth quarter and full year ended December 31, 2024. The firm announced fourth-quarter revenues of $438.7 million, representing a 104% rise from the same period in the previous year. For the full year 2024, GAAP revenues reached $1,194.5 million, with adjusted revenues slightly higher at $1,201.5 million, marking a 40% increase from the prior year. Additionally, Moelis & Company increased its quarterly dividend by 8% to $0.65 per share, reflecting its strong financial performance.
Keefe, Bruyette & Woods raised its price target for Moelis & Company to $92.00, up from $86.00, while maintaining an Outperform rating. This adjustment followed Moelis’ revenue figures exceeding expectations by over $100 million. Furthermore, Moelis & Company granted CEO Ken Moelis a $25 million retention award, which will vest in 2029, aiming to ensure leadership continuity.
In a separate development, Moelis & Company announced the retirement of board member John Allison, marking the end of his decade-long service. The company has not yet indicated a successor or any changes to the board’s composition following his departure. These recent developments highlight Moelis & Company’s strategic moves and financial achievements.
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