Envestnet Asset Management Inc. Purchases 4,921 Shares of Moelis & Company (NYSE:MC)

Envestnet Asset Management Inc. raised its position in shares of Moelis & Company (NYSE:MC - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 357,789 shares of the asset manager's stock after purchasing an additional 4,921 shares during the period. Envestnet Asset Management Inc. owned approximately 0.48% of Moelis & Company worth $20,881,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC boosted its holdings 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 during the period. Headlands Technologies LLC purchased a new stake in Moelis & Company in the fourth quarter worth about $31,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 buying an additional 605 shares during the period. Versant Capital Management Inc lifted its holdings 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 buying an additional 745 shares during the period. Finally, NBC Securities Inc. purchased a new stake in Moelis & Company in the first quarter worth about $59,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Moelis & Company Trading Up 1.3%

Shares of MC traded up $0.90 during trading hours on Thursday, reaching $71.98. 899,350 shares of the stock traded hands, compared to its average volume of 812,748. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The company's 50-day moving average price is $61.06 and its two-hundred day moving average price is $63.70. The company has a market cap of $5.65 billion, a P/E ratio of 33.02 and a beta of 1.64.

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

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, May 5th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.61%. The ex-dividend date was Monday, May 5th. Moelis & Company's payout ratio is currently 119.27%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MC shares. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and raised their target price for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. The Goldman Sachs Group raised their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price target on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Moelis & Company presently has a consensus rating of "Hold" and an average 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.