Empowered Funds LLC Increases Stock Position in Moelis & Company $MC

Empowered Funds LLC lifted its stake in Moelis & Company (NYSE:MC - Free Report) by 26.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,426 shares of the asset manager's stock after acquiring an additional 20,372 shares during the quarter. Empowered Funds LLC owned 0.12% of Moelis & Company worth $5,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its holdings in Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager's stock worth $29,000 after purchasing an additional 163 shares during the last quarter. Wesbanco Bank Inc. raised its stake in Moelis & Company by 2.1% during the 4th quarter. Wesbanco Bank Inc. now owns 8,889 shares of the asset manager's stock valued at $611,000 after buying an additional 180 shares during the last quarter. GW Henssler & Associates Ltd. raised its stake in Moelis & Company by 5.6% during the 4th quarter. GW Henssler & Associates Ltd. now owns 3,433 shares of the asset manager's stock valued at $236,000 after buying an additional 181 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Moelis & Company by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,955 shares of the asset manager's stock valued at $1,165,000 after buying an additional 200 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Moelis & Company by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager's stock valued at $4,310,000 after buying an additional 209 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Price Performance

MC opened at $67.08 on Friday. The company has a 50 day simple moving average of $67.25 and a two-hundred day simple moving average of $65.31. The firm has a market cap of $5.27 billion, a P/E ratio of 23.37, a PEG ratio of 0.85 and a beta of 1.85. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Moelis & Company had a net margin of 14.50% and a return on equity of 39.61%. The firm had revenue of $409.39 million for the quarter, compared to the consensus estimate of $387.27 million. During the same period last year, the firm earned $0.53 EPS. The company's revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that Moelis & Company will post 3.13 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, August 10th. Moelis & Company's dividend payout ratio is presently 90.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on Moelis & Company from $69.00 to $66.00 and set a "market perform" rating on the stock in a research note on Friday, July 10th. Weiss Ratings cut Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Zacks Research raised Moelis & Company from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Morgan Stanley raised their target price on Moelis & Company from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Wall Street Zen raised Moelis & Company from a "sell" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.62.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.