Greenwood Capital Associates LLC Buys Shares of 20,462 Moelis & Company (NYSE:MC)

Greenwood Capital Associates LLC purchased a new stake in Moelis & Company (NYSE:MC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,462 shares of the asset manager's stock, valued at approximately $1,194,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Simon Quick Advisors LLC boosted its position in shares of Moelis & Company by 36.0% during the 1st quarter. Simon Quick Advisors LLC now owns 4,718 shares of the asset manager's stock valued at $275,000 after acquiring an additional 1,250 shares during the last quarter. SG Americas Securities LLC purchased a new position in Moelis & Company in the 1st quarter worth approximately $1,086,000. Curated Wealth Partners LLC increased its position in shares of Moelis & Company by 3.5% during the 1st quarter. Curated Wealth Partners LLC now owns 8,906 shares of the asset manager's stock valued at $520,000 after purchasing an additional 304 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock worth $95,000 after acquiring an additional 457 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC raised its position in Moelis & Company by 13.8% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 66,893 shares of the asset manager's stock worth $3,904,000 after purchasing an additional 8,107 shares during the period. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. Wall Street Zen cut Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price target on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $59.83.

Moelis & Company Price Performance

Moelis & Company stock traded down $3.05 during mid-day trading on Friday, reaching $55.86. The stock had a trading volume of 1,050,800 shares, compared to its average volume of 787,429. Moelis & Company has a one year low of $47.00 and a one year high of $82.89. The company has a 50-day moving average price of $55.30 and a two-hundred day moving average price of $65.61. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 31.74 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The firm had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business's revenue was up 41.0% on a year-over-year basis. On average, equities research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 annualized dividend and a yield of 4.65%. Moelis & Company's dividend payout ratio (DPR) is presently 119.27%.

Moelis & Company 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.