70,599 Shares of Moelis & Company $MC Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a position in Moelis & Company, purchasing 70,599 shares worth about $4.06 million, or 0.09% of the company.
• Moelis beat quarterly EPS estimates with $0.75 versus $0.72, and revenue grew 19.2% year over year; however, revenue of $425.58 million fell short of forecasts.
• The company declared a $0.65 quarterly dividend, equivalent to a 4.6% yield. Analysts’ consensus rating remains “Hold,” with an average price target of $68.83.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Moelis & Company (NYSE:MC - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 70,599 shares of the asset manager's stock, valued at approximately $4,061,000. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Moelis & Company at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Moelis & Company by 11.5% during the second quarter. GAMMA Investing LLC now owns 1,489 shares of the asset manager's stock worth $97,000 after purchasing an additional 153 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of Moelis & Company by 8.0% in the second quarter. Central Pacific Bank Trust Division now owns 2,690 shares of the asset manager's stock valued at $176,000 after purchasing an additional 200 shares in the last quarter. Diversify Wealth Management LLC increased its stake in Moelis & Company by 0.3% during the 1st quarter. Diversify Wealth Management LLC now owns 95,168 shares of the asset manager's stock worth $5,425,000 after buying an additional 238 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in Moelis & Company by 6.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,709 shares of the asset manager's stock worth $271,000 after buying an additional 270 shares during the period. Finally, Root Financial Partners LLC increased its stake in Moelis & Company by 292.2% during the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager's stock worth $26,000 after buying an additional 339 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 1,881 shares of Moelis & Company stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $69.06, for a total transaction of $129,901.86. Following the completion of the sale, the director directly owned 7,633 shares of the company's stock, valued at $527,134.98. The trade was a 19.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MC has been the subject of several recent research reports. Zacks Research raised shares of Moelis & Company from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. UBS Group raised Moelis & Company from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $60.00 to $59.00 in a research report on Wednesday, October 7th. Morgan Stanley reduced their price objective on Moelis & Company from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, October 8th. JPMorgan Chase & Co. reduced their price objective on Moelis & Company from $70.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 27th. Finally, Wall Street Zen upgraded Moelis & Company from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $68.83.

Moelis & Company Stock Down 2.9%

NYSE MC traded down $1.69 on Friday, hitting $56.69. 1,479,972 shares of the stock were exchanged, compared to its average volume of 1,098,888. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The company has a market cap of $4.44 billion, a PE ratio of 19.28, a PEG ratio of 2.57 and a beta of 1.87. The company has a 50-day moving average price of $59.35 and a 200-day moving average price of $63.68.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The asset manager reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company had revenue of $425.58 million for the quarter, compared to the consensus estimate of $434.17 million. During the same period in the prior year, the firm posted $0.68 EPS. The company's quarterly revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts predict that Moelis & Company will post 3.01 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 16th will be paid a $0.65 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.60 dividend on an annualized basis and a yield of 4.6%. Moelis & Company's dividend payout ratio (DPR) is currently 90.59%.

Key Stories Impacting Moelis & Company

Here are the key news stories impacting Moelis & Company this week:

• Positive Sentiment: Moelis reported Q3 EPS of $0.75, above the $0.72 consensus estimate, while revenue increased 19.2% year over year. Moelis Q3 Earnings Beat Estimates
• Positive Sentiment: Management said its pipeline was up about 20% year over year, a potential signal of stronger future advisory activity and revenue. Moelis pipeline and expense outlook
• Positive Sentiment: A valuation article estimates 31% upside to fair value, offering a bullish view on the shares; this is an external valuation assessment, not company guidance. Moelis stock fair-value assessment
• Positive Sentiment: The company declared a regular quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a stated yield of about 4.5%. Moelis Q3 results and dividend announcement
• Negative Sentiment: Q3 revenue of $425.58 million missed analysts’ $434.17 million estimate, a shortfall that may offset the EPS beat. Moelis misses Q3 revenue estimates
• Negative Sentiment: Moelis expects full-year non-compensation expenses to rise 19%. Higher costs could constrain earnings or margins even as the pipeline grows. Moelis pipeline and expense outlook

Moelis & Company Profile

Moelis & Company NYSE: MC is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.

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