Algert Global LLC Invests $6.77 Million in Moelis & Company (NYSE:MC)

Algert Global LLC bought a new position in Moelis & Company (NYSE:MC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 91,610 shares of the asset manager's stock, valued at approximately $6,768,000. Algert Global LLC owned about 0.12% of Moelis & Company at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MC. Madison Investment Advisors LLC bought a new position in shares of Moelis & Company during the 4th quarter valued at approximately $86,062,000. Norges Bank purchased a new stake in Moelis & Company in the fourth quarter worth $52,610,000. Raymond James Financial Inc. purchased a new stake in shares of Moelis & Company during the fourth quarter valued at $27,855,000. Capital Research Global Investors bought a new position in Moelis & Company in the 4th quarter worth about $20,720,000. Finally, Fisher Asset Management LLC increased its holdings in Moelis & Company by 252.8% during the 4th quarter. Fisher Asset Management LLC now owns 220,770 shares of the asset manager's stock worth $16,310,000 after purchasing an additional 158,200 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company dropped their target price on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group lowered their price target on Moelis & Company from $86.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Morgan Stanley cut their price objective on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Moelis & Company has an average rating of "Hold" and an average target price of $61.83.

Moelis & Company Price Performance

NYSE:MC traded down $0.19 during midday trading on Friday, hitting $54.94. The company's stock had a trading volume of 853,234 shares, compared to its average volume of 752,430. The firm's 50 day moving average is $55.68 and its 200-day moving average is $67.88. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The firm has a market cap of $4.31 billion, a P/E ratio of 31.22 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The business's quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. As a group, analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.73%. The ex-dividend date is Monday, May 5th. Moelis & Company's payout ratio is currently 119.27%.

Insider Buying and Selling

In related news, Director Kenneth Shropshire sold 2,551 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $72.30, for a total transaction of $184,437.30. Following the completion of the sale, the director now directly owns 6,940 shares in the company, valued at approximately $501,762. The trade was a 26.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Callesano sold 1,282 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total value of $94,868.00. Following the completion of the transaction, the insider now owns 1,227 shares in the company, valued at $90,798. The trade was a 51.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,721 shares of company stock valued at $1,677,017. 6.40% of the stock is owned by corporate insiders.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.