Banque Pictet & Cie SA Buys New Stake in 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.

A number of other institutional investors and hedge funds have also modified their holdings of MC. CIBC Private Wealth Group LLC increased its stake in shares of 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 in the last quarter. Headlands Technologies LLC purchased a new stake in Moelis & Company during the 4th quarter valued at about $31,000. MassMutual Private Wealth & Trust FSB grew its stake 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 valued at $38,000 after acquiring an additional 605 shares in the last quarter. Versant Capital Management Inc grew its stake 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 valued at $46,000 after acquiring an additional 745 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Moelis & Company during the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Moelis & Company Stock Performance

Shares of NYSE:MC traded up $1.36 during trading hours on Monday, reaching $70.83. The stock had a trading volume of 902,856 shares, compared to its average volume of 811,267. The firm's 50 day moving average is $59.67 and its 200-day moving average is $63.65. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 32.49 and a beta of 1.64. Moelis & Company has a 1 year low of $47.00 and a 1 year 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, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. The company's revenue was up 41.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. Analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Monday, May 5th. Moelis & Company's dividend payout ratio (DPR) is 119.27%.

Wall Street Analyst Weigh In

MC has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday. 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. JPMorgan Chase & Co. decreased their price objective 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. The Goldman Sachs Group increased their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $66.00.

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.