Cubist Systematic Strategies LLC Purchases Shares of 182,826 Moelis & Company $MC

Key Points

• Cubist Systematic Strategies LLC acquired 182,826 shares of Moelis & Company, valued at approximately $10.67 million, during the first quarter, representing a 0.23% ownership stake.
• Moelis & Company reported $0.53 earnings per share (EPS) for the last quarter, surpassing analyst expectations and indicating a year-over-year revenue increase of 38.1%.
• The company announced a quarterly dividend of $0.65 per share, with an annualized yield of 3.6%, projected to be paid on September 18th.

Cubist Systematic Strategies LLC acquired a new stake in Moelis & Company (NYSE:MC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 182,826 shares of the asset manager's stock, valued at approximately $10,670,000. Cubist Systematic Strategies LLC owned 0.23% of Moelis & Company at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MC. MassMutual Private Wealth & Trust FSB grew its position in shares of Moelis & Company by 1,551.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after purchasing an additional 605 shares during the period. Versant Capital Management Inc raised its holdings in Moelis & Company by 1,460.8% in the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after acquiring an additional 745 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Moelis & Company during the 1st quarter worth approximately $59,000. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 38.9% in the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after purchasing an additional 457 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Moelis & Company in the 1st quarter worth $107,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Insider Transactions at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the sale, the general counsel owned 131 shares in the company, valued at $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Shropshire sold 2,615 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. The trade was a 26.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Moelis & Company Price Performance

Moelis & Company stock traded up $1.52 during mid-day trading on Thursday, reaching $71.79. The company had a trading volume of 511,690 shares, compared to its average volume of 583,557. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The company has a market capitalization of $5.64 billion, a P/E ratio of 28.26 and a beta of 1.72. The stock's 50-day simple moving average is $70.05 and its 200-day simple moving average is $62.47.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The company had revenue of $365.38 million during the quarter, compared to the consensus estimate of $269.57 million. During the same quarter last year, the business posted $0.18 earnings per share. Moelis & Company's revenue was up 38.1% compared to the same quarter last year. On average, equities analysts forecast that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $2.60 annualized dividend and a yield of 3.6%. Moelis & Company's payout ratio is presently 102.36%.

Analysts Set New Price Targets

Several research firms have weighed in on MC. Keefe, Bruyette & Woods boosted their target price on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 14th. The Goldman Sachs Group upped their price objective on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and raised their price target for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. Wells Fargo & Company lifted their target price on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Zacks Research upgraded Moelis & Company from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $66.00.

Moelis & Company Company Profile

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.