Assenagon Asset Management S.A. Has $4.66 Million Position in Moelis & Company (NYSE:MC)

Assenagon Asset Management S.A. lowered its stake in Moelis & Company (NYSE:MC - Free Report) by 89.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,764 shares of the asset manager's stock after selling 689,181 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of Moelis & Company worth $4,655,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MC. CIBC Private Wealth Group LLC increased its position in shares of Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock worth $30,000 after acquiring an additional 137 shares in the last quarter. Headlands Technologies LLC acquired a new position in Moelis & Company in the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB grew its position in Moelis & Company by 1,551.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock worth $38,000 after purchasing an additional 605 shares in the last quarter. Versant Capital Management Inc grew its position in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock worth $46,000 after purchasing an additional 745 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in Moelis & Company during the 1st quarter valued at $59,000. Institutional investors own 91.53% of the company's stock.

Moelis & Company Stock Performance

Shares of Moelis & Company stock traded up $0.48 during trading on Thursday, hitting $56.55. 461,939 shares of the stock traded hands, compared to its average volume of 790,178. The stock has a market cap of $4.44 billion, a P/E ratio of 25.94 and a beta of 1.64. The company has a fifty day moving average price of $55.68 and a two-hundred day moving average price of $65.05. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. The company had revenue of $306.59 million during the quarter, compared to the consensus estimate of $309.67 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The company's revenue for the quarter was up 41.0% compared to the same quarter last year. On average, equities research analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Monday, May 5th. Moelis & Company's dividend payout ratio is presently 119.27%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group boosted their price objective on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley dropped their price objective on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $59.83.

Moelis & 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.