Freemont Management S.A. Buys New Shares in Moelis & Company $MC

Key Points

• Freemont Management S.A. disclosed a new position in Moelis & Company during Q1, buying 63,400 shares worth about $3.6 million. The stake represented roughly 0.08% of the company.
• Moelis & Company recently reported Q1 EPS of $0.50, below the $0.59 estimate, though revenue rose 4.3% year over year to $319.78 million. Analysts now expect full-year EPS of 3.14.
• The company pays a quarterly dividend of $0.65 per share, equal to an annualized yield of about 3.9%. Wall Street’s overall view is Hold, with a consensus price target of $73.38.

Freemont Management S.A. bought a new position in Moelis & Company (NYSE:MC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 63,400 shares of the asset manager's stock, valued at approximately $3,614,000. Freemont Management S.A. owned about 0.08% of Moelis & Company at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MC. V Square Quantitative Management LLC acquired a new position in shares of Moelis & Company in the fourth quarter valued at about $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Moelis & Company by 64.4% during 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 period. Allworth Financial LP lifted its holdings in shares of Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager's stock worth $30,000 after purchasing an additional 254 shares during the period. Root Financial Partners LLC boosted its position in Moelis & Company by 292.2% in the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager's stock valued at $26,000 after buying an additional 339 shares during the last quarter. Finally, eCIO Inc. purchased a new stake in Moelis & Company in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Price Performance

Shares of NYSE MC opened at $67.45 on Friday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 0.86 and a beta of 1.85. The firm's 50 day simple moving average is $66.68 and its 200-day simple moving average is $65.69. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The firm had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. During the same quarter in the prior year, the firm earned $0.64 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. Analysts anticipate that Moelis & Company will post 3.14 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. Moelis & Company's payout ratio is presently 93.53%.

Wall Street Analysts Forecast Growth

MC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a research report on Friday, July 10th. Morgan Stanley dropped their price objective on shares of Moelis & Company from $90.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut shares of Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. The Goldman Sachs Group decreased their target price on shares of Moelis & Company from $70.00 to $62.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Finally, Zacks Research raised shares of Moelis & Company from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $73.38.

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. 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.

Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Company (NYSE:MC - Free Report).

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.