Banque Pictet & Cie SA Acquires Shares of 11,524 Moelis & Company (NYSE:MC)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Madison Investment Advisors LLC purchased a new stake in Moelis & Company during the 4th quarter valued at about $86,062,000. Norges Bank acquired a new position in Moelis & Company in the 4th quarter valued at about $52,610,000. Balyasny Asset Management L.P. boosted its holdings in Moelis & Company by 215.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock valued at $53,444,000 after purchasing an additional 494,123 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Moelis & Company in the 4th quarter valued at about $27,855,000. Finally, Capital Research Global Investors acquired a new position in Moelis & Company in the 4th quarter valued at about $20,720,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MC shares. Wells Fargo & Company boosted their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Wall Street Zen lowered shares of Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $66.50.

Moelis & Company Price Performance

Shares of MC stock traded down $0.95 during trading hours on Friday, hitting $69.42. The company had a trading volume of 715,082 shares, compared to its average volume of 809,803. The company's fifty day moving average is $59.67 and its 200 day moving average is $63.81. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The stock has a market capitalization of $5.45 billion, a PE ratio of 31.84 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. During the same period in the prior year, the business posted $0.22 EPS. The business's revenue for the quarter was up 41.0% compared to the same quarter last year. Equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current 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 3.75%. The ex-dividend date was Monday, May 5th. Moelis & Company's payout ratio is currently 119.27%.

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.