Jump Financial LLC Purchases 29,059 Shares of Moelis & Company $MC

Key Points

• Jump Financial LLC has increased its holdings in Moelis & Company by 94.3%, owning approximately 0.08% of the company valued at $3.5 million following the purchase of additional shares.
• Moelis & Company reported $0.53 earnings per share in its recent quarterly earnings, significantly exceeding analyst estimates of $0.32, with revenue growth of 38.1% year-over-year.
• The firm declared a quarterly dividend of $0.65 per share, translating to an annualized dividend yield of 3.6%, despite having a dividend payout ratio of 102.36%.

Jump Financial LLC increased its stake in Moelis & Company (NYSE:MC - Free Report) by 94.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,881 shares of the asset manager's stock after buying an additional 29,059 shares during the period. Jump Financial LLC owned about 0.08% of Moelis & Company worth $3,495,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in Moelis & Company by 1,551.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after purchasing an additional 605 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Moelis & Company by 1,460.8% in the first quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock worth $46,000 after purchasing an additional 745 shares during the period. NBC Securities Inc. acquired a new stake in Moelis & Company in the first quarter worth about $59,000. GAMMA Investing LLC lifted its holdings in Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after acquiring an additional 457 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in Moelis & Company in the 1st quarter valued at about $107,000. Institutional investors own 91.53% of the company's stock.

Insider Activity

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction 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. The trade was a 97.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of the business'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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company's stock.

Moelis & Company Trading Up 0.5%

Shares of Moelis & Company stock traded up $0.37 during trading on Thursday, reaching $72.88. The company's stock had a trading volume of 430,604 shares, compared to its average volume of 667,021. The stock has a 50-day moving average price of $68.97 and a two-hundred day moving average price of $62.63. Moelis & Company has a one year low of $47.00 and a one year high of $82.89. The stock has a market capitalization of $5.72 billion, a P/E ratio of 28.69 and a beta of 1.70.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly 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 return on equity of 42.72% and a net margin of 14.31%.The business had revenue of $365.38 million during the quarter, compared to analysts' expectations of $269.57 million. During the same period in the previous year, the business posted $0.18 earnings per share. The firm's revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 4th. Moelis & Company's payout ratio is currently 102.36%.

Wall Street Analyst Weigh In

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

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.