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Jeffrey Raich, Co-President and Managing Director at Moelis & Co (NYSE:MC), recently executed a series of transactions involving the company’s Class A Common Stock. On February 19, Raich sold 8,722 shares at a price of $74 per share, totaling approximately $645,428. This sale was part of a broader transaction to raise funds for tax obligations related to the delivery of Class A Common Stock upon the settlement of restricted stock units (RSUs). The stock has delivered a strong 33.34% return over the past year, despite a modest 2.7% decline year-to-date.
In addition to the sale, Raich acquired 18,757.56 shares through the settlement of RSUs, although the acquisition did not involve any direct cash outlay as these shares were settled at a price of $0. Furthermore, a minor transaction involved the disposition of 0.56 shares at $74 each, totaling $41, also related to tax obligations.
Following these transactions, Raich’s direct ownership of Moelis & Co’s Class A Common Stock stands at 54,794 shares.
In other recent news, Moelis & Company reported a significant increase in its fourth-quarter and full-year financial results for 2024. The firm announced fourth-quarter revenues of $438.7 million, marking a 104% rise from the previous year, while full-year GAAP revenues reached $1,194.5 million. Moelis also increased its quarterly dividend by 8% to $0.65 per share, reflecting its strong financial performance. In a strategic move, Moelis & Co granted a $25 million retention award to its CEO, Ken Moelis, to ensure leadership stability, with the units vesting in 2029. Keefe, Bruyette & Woods raised Moelis’ stock price target to $92, citing the company’s revenue exceeding expectations by over $100 million and maintaining an Outperform rating. Additionally, Moelis & Company announced the retirement of board member John Allison, marking the end of his decade-long service. The firm promoted 19 advisory professionals to Managing Director and hired a new Global Head of Private Funds Advisory, indicating ongoing strategic growth. These developments underscore Moelis & Company’s focus on enhancing shareholder value and maintaining robust financial health.
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