Moelis & Company Chairman and CEO Kenneth Moelis Sells 79,000 Shares
Kenneth Moelis, Chairman and CEO of Moelis & Company (NYSE:MC), sold 79,000 shares of the company on March 1, 2024, according to a recent SEC filing.Moelis & Company is a global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments, and financial sponsors. The firm assists its clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors.Kenneth Moeliss recent transaction involved the disposal of 79,000 shares at a market price of $54.11 per share. This transaction has contributed to the insider's total sale of 300,740 shares over the past year, with no recorded purchases in the same period.The insider transaction history for Moelis & Company shows a pattern of insider sales, with 19 insider sells and no insider buys over the past year.
On the valuation front, Moelis & Company shares were trading at $54.11 on the day of the insider's recent sale, giving the company a market capitalization of $3.571 billion.The stock's price-to-GF-Value ratio stands at 1.37, indicating that Moelis & Company is significantly overvalued according to the GF Value metric. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
Investors and analysts often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, it is important to note that insider selling can occur for various reasons and may not necessarily indicate a bearish stance on the company's future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
