Aigen Investment Management LP Makes New Investment in Moelis & Company $MC

Key Points

• Aigen Investment Management LP acquired 4,996 shares of Moelis & Company, valued at about $292,000, in the first quarter, as disclosed in a recent SEC filing.
• Moelis & Company reported an earnings per share of $0.53 for the last quarter, exceeding analysts' expectations of $0.32, with a significant year-over-year revenue increase of 38.1%.
• The firm announced a quarterly dividend of $0.65 per share, reflecting a 3.5% dividend yield, with the payout ratio currently at 102.36%.

Aigen Investment Management LP acquired a new position in shares of Moelis & Company (NYSE:MC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,996 shares of the asset manager's stock, valued at approximately $292,000.

Several other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after buying an additional 457 shares during the last quarter. Diversify Wealth Management LLC lifted its position in Moelis & Company by 29.4% in the 1st quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager's stock valued at $4,067,000 after acquiring an additional 17,322 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company during the 1st quarter valued at about $334,000. Wealth Enhancement Advisory Services LLC increased its holdings in Moelis & Company by 64.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 253,658 shares of the asset manager's stock worth $14,803,000 after purchasing an additional 99,316 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Moelis & Company during the 1st quarter worth approximately $3,331,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Price Performance

Shares of Moelis & Company stock traded down $0.79 during trading hours on Monday, hitting $71.29. 161,571 shares of the company's stock traded hands, compared to its average volume of 934,394. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 28.07 and a beta of 1.70. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The company has a fifty day simple moving average of $66.34 and a 200-day simple moving average of $62.85.

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

Moelis & Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MC shares. The Goldman Sachs Group raised their target price on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and increased their target price for the company from $42.00 to $68.00 in a report on Monday, June 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $66.00.

Insiders Place Their Bets

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the 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 completion of the transaction, the general counsel owned 131 shares in the company, valued at approximately $9,515.84. This represents a 97.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.40% of the company's stock.

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.