Canada Pension Plan Investment Board Purchases 48,900 Shares of Moelis & Company $MC

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Moelis & Company by 250.8% during the first quarter, owning approximately 0.09% of the company valued at $3.99 million.
• Moelis & Company reported a significant earnings beat with $0.53 EPS for the quarter, exceeding estimates and reflecting a 38.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.65 per share, representing a yield of 3.7%, although its dividend payout ratio is currently at 102.36%.

Canada Pension Plan Investment Board increased its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 250.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,400 shares of the asset manager's stock after buying an additional 48,900 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of Moelis & Company worth $3,992,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC lifted its stake in shares of Moelis & Company by 2.4% in the first quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager's stock worth $500,000 after buying an additional 204 shares in the last quarter. Palisades Investment Partners LLC grew its holdings in shares of Moelis & Company by 0.3% during the first quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager's stock worth $4,478,000 after buying an additional 204 shares in the last quarter. Choreo LLC lifted its position in Moelis & Company by 5.1% during the first quarter. Choreo LLC now owns 5,075 shares of the asset manager's stock valued at $296,000 after buying an additional 244 shares in the last quarter. Xponance Inc. grew its stake in Moelis & Company by 5.8% in the first quarter. Xponance Inc. now owns 5,373 shares of the asset manager's stock worth $314,000 after purchasing an additional 294 shares in the last quarter. Finally, Curated Wealth Partners LLC grew its position in shares of Moelis & Company by 3.5% during the first quarter. Curated Wealth Partners LLC now owns 8,906 shares of the asset manager's stock worth $520,000 after acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Moelis & Company Stock Performance

Shares of NYSE:MC traded up $1.15 during midday trading on Monday, hitting $71.83. 258,665 shares of the company's stock traded hands, compared to its average volume of 905,741. The company has a market cap of $5.64 billion, a PE ratio of 28.37 and a beta of 1.72. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The firm's fifty day moving average price is $70.20 and its two-hundred day moving average price is $62.24.

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

Moelis & Company Dividend Announcement

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

Wall Street Analyst Weigh In

MC has been the subject of a number of research reports. Zacks Research upgraded Moelis & Company from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. Wells Fargo & Company lifted their target price on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley raised their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods increased their price target 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. Finally, The Goldman Sachs Group boosted their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Moelis & Company has an average rating of "Hold" and a consensus target price of $69.67.

Insider Buying and Selling at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,615 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the sale, the director owned 7,109 shares in the company, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the transaction, the general counsel owned 131 shares of the company's stock, valued at $9,515.84. This trade represents a 97.98% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

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.