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| Bargain Bin Stocks: MC Now 45.7% Cheaper Than Director Patent's BuyBy Dividend Channel Staff, Wednesday, May 18, 10:25 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 13, Moelis & Company Class A's Director, Robert C. Patent, invested $79,858.70 into 1,000 shares of MC, for a cost per share of $79.86. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Moelis & Company Class A (NYSE:MC) and achieve a cost basis 45.7% cheaper than Patent, with shares changing hands as low as $43.36 per share. Moelis & Company Class A shares are currently trading off about 2% on the day. The chart below shows the one year performance of MC shares, versus its 200 day moving average:
Looking at the chart above, MC's low point in its 52 week range is $39.95 per share, with $77.49 as the 52 week high point — that compares with a last trade of $43.36. By comparison, below is a table showing the prices at which MC insider buying was recorded over the last six months:
The current annualized dividend paid by Moelis & Company Class A is $2.4/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 05/08/2022. Below is a long-term dividend history chart for MC, which can be of good help in judging whether the most recent dividend with approx. 5.4% annualized yield is likely to continue.
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