Diversify Wealth Management LLC Has $4.07 Million Stock Holdings in Moelis & Company (NYSE:MC)

Diversify Wealth Management LLC increased its position in shares of Moelis & Company (NYSE:MC - Free Report) by 29.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,298 shares of the asset manager's stock after purchasing an additional 17,322 shares during the period. Diversify Wealth Management LLC owned about 0.10% of Moelis & Company worth $4,067,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in Moelis & Company by 52.5% in 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 acquired a new stake in Moelis & Company in the 4th quarter valued at $31,000. MassMutual Private Wealth & Trust FSB boosted its stake in Moelis & Company by 1,551.3% in 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 boosted its stake in Moelis & Company by 1,460.8% in 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. bought a new stake in shares of Moelis & Company during the first quarter worth $59,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Up 2.0%

Shares of NYSE:MC traded up $1.36 during trading on Monday, reaching $70.83. 902,856 shares of the company traded hands, compared to its average volume of 811,267. The company's 50 day moving average is $59.67 and its two-hundred day moving average is $63.65. The firm has a market capitalization of $5.56 billion, a PE ratio of 32.49 and a beta of 1.64. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping 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 company had revenue of $306.59 million during the quarter, compared to analysts' expectations of $309.67 million. During the same quarter in the previous year, the firm earned $0.22 EPS. Moelis & Company's revenue was up 41.0% on a year-over-year basis. As a group, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

MC has been the topic of several research analyst reports. The Goldman Sachs Group increased their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $42.00 to $68.00 in a report on Monday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned 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 an average target price 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.