Ieq Capital LLC Takes Position in Moelis & Company $MC

Key Points

• Ieq Capital LLC has acquired a new stake in Moelis & Company, purchasing 16,707 shares valued at approximately $975,000 during the first quarter.
• Moelis & Company reported earnings of $0.53 per share for the last quarter, surpassing estimates significantly and boasting a revenue increase of 38.1% year-over-year.
• The company recently announced a quarterly dividend of $0.65 per share, with a dividend yield of 3.7% and a payout ratio of 102.36%.

Ieq Capital LLC bought a new stake in Moelis & Company (NYSE:MC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,707 shares of the asset manager's stock, valued at approximately $975,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Peak Financial Advisors LLC boosted its stake in shares of Moelis & Company by 2.4% in the 1st quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager's stock valued at $500,000 after purchasing an additional 204 shares in the last quarter. Palisades Investment Partners LLC lifted its position in Moelis & Company by 0.3% during the 1st quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager's stock worth $4,478,000 after buying an additional 204 shares in the last quarter. Choreo LLC lifted its position in Moelis & Company by 5.1% during the 1st quarter. Choreo LLC now owns 5,075 shares of the asset manager's stock worth $296,000 after buying an additional 244 shares in the last quarter. Xponance Inc. lifted its position in Moelis & Company by 5.8% during the 1st quarter. Xponance Inc. now owns 5,373 shares of the asset manager's stock worth $314,000 after buying an additional 294 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its position in Moelis & Company by 3.5% during the 1st quarter. Curated Wealth Partners LLC now owns 8,906 shares of the asset manager's stock worth $520,000 after buying an additional 304 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Trading Down 1.2%

Moelis & Company stock opened at $71.21 on Wednesday. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The company has a market cap of $5.59 billion, a PE ratio of 28.04 and a beta of 1.72. The company's 50-day moving average is $69.71 and its two-hundred day moving average is $62.44.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The company had revenue of $365.38 million for the quarter, compared to the consensus estimate of $269.57 million. During the same period in the prior year, the company posted $0.18 EPS. The company's revenue was up 38.1% compared to the same quarter last year. Research analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be given a dividend of $0.65 per share. The ex-dividend date is Monday, August 4th. This represents a $2.60 dividend on an annualized basis and a yield of 3.7%. Moelis & Company's dividend payout ratio is presently 102.36%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MC. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $42.00 to $68.00 in a research report on Monday, June 23rd. Zacks Research upgraded shares of Moelis & Company from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Keefe, Bruyette & Woods upped their price target on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group upped their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $66.00.

Insider Transactions at Moelis & Company

In other news, Director Kenneth Shropshire sold 2,615 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares of the company's stock, valued at $515,544.68. This represents a 26.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Osamu R. Watanabe sold 6,340 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the sale, the general counsel directly owned 131 shares of the company's stock, valued at approximately $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

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.

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