Moelis & Company $MC Shares Bought by Jump Financial LLC

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 position in shares of Moelis & Company (NYSE:MC - Free Report) by 94.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 quarter.

Several other institutional investors have also recently made changes to their positions in MC. GAMMA Investing LLC grew its stake in Moelis & Company by 38.9% in the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after purchasing an additional 457 shares during the last quarter. Versor Investments LP purchased a new position in Moelis & Company in the first quarter valued at about $1,432,000. Diversify Wealth Management LLC grew its stake in Moelis & Company by 29.4% in the first quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager's stock valued at $4,067,000 after purchasing an additional 17,322 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new position in Moelis & Company in the first quarter valued at about $334,000. Finally, Vanguard Group Inc. grew its stake in Moelis & Company by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager's stock valued at $484,720,000 after purchasing an additional 158,373 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Insider Activity at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares in the company, valued at approximately $515,544.68. This represents a 26.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction that occurred on 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 transaction, the general counsel directly owned 131 shares of the company's stock, valued at $9,515.84. The trade was a 97.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Moelis & Company Trading Down 1.3%

Shares of MC stock traded down $0.97 during trading hours on Friday, reaching $71.97. 612,501 shares of the company's stock were exchanged, compared to its average volume of 628,671. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The stock has a market cap of $5.65 billion, a PE ratio of 28.33 and a beta of 1.72. The stock's fifty day moving average price is $69.28 and its two-hundred day moving average price is $62.41.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $269.57 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company's revenue was up 38.1% on a year-over-year basis. On average, equities analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

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

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.