Greenwood Capital Associates LLC Invests $1.19 Million in Moelis & Company (NYSE:MC)

Greenwood Capital Associates LLC purchased a new stake in Moelis & Company (NYSE:MC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,462 shares of the asset manager's stock, valued at approximately $1,194,000.

Other institutional investors have also recently made changes to their positions in the company. Madison Investment Advisors LLC purchased a new stake in shares of Moelis & Company in the fourth quarter worth approximately $86,062,000. Norges Bank purchased a new stake in shares of Moelis & Company in the fourth quarter worth approximately $52,610,000. Balyasny Asset Management L.P. raised its stake in shares of Moelis & Company by 215.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock worth $53,444,000 after purchasing an additional 494,123 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Moelis & Company in the fourth quarter worth approximately $27,855,000. Finally, Capital Research Global Investors purchased a new stake in shares of Moelis & Company in the fourth quarter worth approximately $20,720,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MC. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price objective on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wall Street Zen lowered Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Finally, The Goldman Sachs Group increased their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $59.83.

Moelis & Company Trading Up 1.1%

Moelis & Company stock traded up $0.63 during trading hours on Monday, hitting $56.62. 694,280 shares of the stock traded hands, compared to its average volume of 788,677. The firm's 50-day moving average price is $55.60 and its two-hundred day moving average price is $65.18. The company has a market cap of $4.45 billion, a PE ratio of 32.17 and a beta of 1.64. Moelis & Company has a one year low of $47.00 and a one year high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last issued 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 38.49% and a net margin of 11.39%. The firm had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. During the same period in the previous year, the firm posted $0.22 EPS. The business's revenue for the quarter was up 41.0% compared to the same quarter last year. On average, sell-side analysts expect that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

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 4.59%. Moelis & Company's dividend payout ratio (DPR) is presently 119.27%.

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.