Intech Investment Management LLC Acquires 15,645 Shares of Moelis & Company $MC

Key Points

• Intech Investment Management LLC has increased its stake in Moelis & Company by 61.6%, owning 41,063 shares valued at approximately $2.40 million after purchasing an additional 15,645 shares in the first quarter.
• Moelis & Company reported $0.53 earnings per share, significantly exceeding analysts' estimates of $0.32, with a year-over-year revenue growth of 38.1% to $365.38 million.
• The company announced a $0.65 quarterly dividend, representing an annualized dividend of $2.60, with a yield of 3.5% and a dividend payout ratio of 102.36%.

Intech Investment Management LLC lifted its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 61.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,063 shares of the asset manager's stock after purchasing an additional 15,645 shares during the quarter. Intech Investment Management LLC owned 0.05% of Moelis & Company worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Moelis & Company by 214.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager's stock worth $171,713,000 after purchasing an additional 2,006,747 shares during the period. Goldman Sachs Group Inc. increased its stake in Moelis & Company by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager's stock valued at $137,548,000 after purchasing an additional 579,529 shares in the last quarter. Jennison Associates LLC increased its stake in Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager's stock valued at $28,318,000 after purchasing an additional 398,129 shares in the last quarter. Millennium Management LLC increased its stake in Moelis & Company by 311.4% during the 1st quarter. Millennium Management LLC now owns 465,677 shares of the asset manager's stock valued at $27,177,000 after purchasing an additional 352,490 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Moelis & Company in the 1st quarter worth $19,561,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Price Performance

Shares of MC stock traded down $0.64 on Friday, hitting $77.11. The stock had a trading volume of 1,718,851 shares, compared to its average volume of 522,556. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The firm has a market capitalization of $6.05 billion, a P/E ratio of 30.36 and a beta of 1.72. The company's 50 day moving average price is $71.89 and its 200-day moving average price is $62.71.

Moelis & Company (NYSE:MC - Get Free Report) last announced 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. The firm had revenue of $365.38 million during the quarter, compared to analysts' expectations of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The business's revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Monday, August 4th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, August 4th. Moelis & Company's payout ratio is currently 102.36%.

Insider Activity

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 6,340 shares of Moelis & Company stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the transaction, the general counsel directly owned 131 shares in the company, valued at $9,515.84. The trade was a 97.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Shropshire sold 2,615 shares of the company's stock in a transaction that occurred on 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 owned 7,109 shares of the company's stock, valued at $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Wells Fargo & Company increased their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Morgan Stanley increased their price objective on Moelis & Company from $74.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Keefe, Bruyette & Woods raised their price target on Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Moelis & Company currently has an average rating of "Hold" and an average price target of $69.67.

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.