Banque Pictet & Cie SA Makes New Investment in Moelis & Company (NYSE:MC)

Banque Pictet & Cie SA purchased a new stake in shares of Moelis & Company (NYSE:MC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,524 shares of the asset manager's stock, valued at approximately $673,000.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company lowered their price target on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and boosted their price objective for the company from $42.00 to $68.00 in a report on Monday, June 23rd. Wall Street Zen cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped 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. One equities research 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's stock. According to MarketBeat, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $64.17.

Moelis & Company Trading Up 3.1%

MC stock opened at $70.39 on Friday. The company has a market capitalization of $5.53 billion, a PE ratio of 32.29 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The business's fifty day moving average price is $59.38 and its 200 day moving average price is $63.84.

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

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Monday, May 5th. Moelis & Company's payout ratio is currently 119.27%.

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.

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