Diversify Advisory Services LLC Acquires 4,724 Shares of Moelis & Company (NYSE:MC)

Diversify Advisory Services LLC boosted its holdings in Moelis & Company (NYSE:MC - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,002 shares of the asset manager's stock after purchasing an additional 4,724 shares during the quarter. Diversify Advisory Services LLC's holdings in Moelis & Company were worth $1,066,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC grew its holdings in Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Moelis & Company during the fourth quarter worth about $31,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Moelis & Company by 1,551.3% during the first 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 holdings in shares of Moelis & Company by 1,460.8% during the first 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. purchased a new position in shares of Moelis & Company during the first quarter worth about $59,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Price Performance

Shares of MC stock traded down $1.48 on Friday, hitting $70.35. The stock had a trading volume of 831,586 shares, compared to its average volume of 814,184. The firm has a market capitalization of $5.52 billion, a P/E ratio of 32.27 and a beta of 1.64. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The company's 50 day moving average price is $61.37 and its 200-day moving average price is $63.61.

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

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, May 5th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend was Monday, May 5th. Moelis & Company's dividend payout ratio (DPR) is presently 119.27%.

Analysts Set New Price Targets

Several analysts have weighed in on MC shares. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group upped their target price on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Moelis & Company presently has a consensus rating of "Hold" and a consensus price target of $66.00.

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.