HighTower Advisors LLC Raises Holdings in Moelis & Company $MC

Key Points

• HighTower Advisors LLC increased its stake in Moelis & Company by 10.3% in the fourth quarter, buying 129,368 more shares and bringing its total holding to 1,385,692 shares valued at about $95.3 million.
• Moelis shares fell 2.5% and the stock traded at $62.25, below its 200-day moving average of $65.30. The company also reported quarterly EPS of $0.50, missing analyst expectations of $0.59.
• The company declared a quarterly dividend of $0.65 per share, payable June 18, which annualizes to $2.60 per share and a 4.2% yield. However, the payout ratio is high at 93.53%.

HighTower Advisors LLC grew its position in shares of Moelis & Company (NYSE:MC - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,385,692 shares of the asset manager's stock after purchasing an additional 129,368 shares during the quarter. HighTower Advisors LLC owned approximately 1.77% of Moelis & Company worth $95,253,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Moelis & Company by 89.8% during the third quarter. Bessemer Group Inc. now owns 389 shares of the asset manager's stock worth $28,000 after purchasing an additional 184 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Moelis & Company during the fourth quarter worth about $27,000. Allworth Financial LP grew 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 last quarter. eCIO Inc. purchased a new position in shares of Moelis & Company during the fourth quarter worth about $33,000. Finally, Quarry LP grew its holdings in shares of Moelis & Company by 1,811.1% during the third quarter. Quarry LP now owns 516 shares of the asset manager's stock worth $37,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Moelis & Company Stock Down 2.5%

Shares of NYSE:MC opened at $62.25 on Wednesday. The company has a market cap of $4.89 billion, a P/E ratio of 22.39, a PEG ratio of 0.76 and a beta of 1.87. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22. The company has a 50-day moving average price of $60.75 and a 200 day moving average price of $65.30.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The firm had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. Moelis & Company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. Analysts expect that Moelis & Company will post 3.2 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, May 11th will be given a $0.65 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a yield of 4.2%. Moelis & Company's dividend payout ratio (DPR) is presently 93.53%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Moelis & Company from $70.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, April 1st. Keefe, Bruyette & Woods dropped their price objective on Moelis & Company from $80.00 to $64.00 and set a "market perform" rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $80.00 to $81.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Bank of America assumed coverage on Moelis & Company in a report on Monday, January 26th. They set a "neutral" rating and a $81.00 price target on the stock. Finally, UBS Group lowered their price target on Moelis & Company from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Moelis & Company has a consensus rating of "Hold" and an average price target of $71.89.

Insider Buying and Selling

In related news, General Counsel Osamu R. Watanabe sold 2,765 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $62.23, for a total value of $172,065.95. Following the completion of the sale, the general counsel owned 4,981 shares in the company, valued at $309,967.63. This trade represents a 35.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is currently owned by insiders.

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.

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