Mackenzie Financial Corp Acquires 7,697 Shares of Moelis & Company (NYSE:MC)

Mackenzie Financial Corp grew its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 62.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,960 shares of the asset manager's stock after purchasing an additional 7,697 shares during the quarter. Mackenzie Financial Corp's holdings in Moelis & Company were worth $1,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC raised its stake in shares of Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares during the period. Headlands Technologies LLC purchased a new position in Moelis & Company during the 4th quarter valued at about $31,000. R Squared Ltd bought a new stake in shares of Moelis & Company during the fourth quarter valued at about $47,000. Jones Financial Companies Lllp lifted its holdings in shares of Moelis & Company by 148.3% in the fourth quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock worth $61,000 after buying an additional 491 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in shares of Moelis & Company in the fourth quarter worth about $61,000. Institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen lowered shares of Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Morgan Stanley lowered their price objective on shares of Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a research note on Monday, April 7th. Finally, JMP Securities restated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $59.83.

Moelis & Company Stock Performance

Shares of Moelis & Company stock traded down $0.44 on Wednesday, hitting $56.98. 763,047 shares of the company's stock were exchanged, compared to its average volume of 776,932. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The company has a 50-day simple moving average of $54.92 and a 200-day simple moving average of $66.29. The stock has a market capitalization of $4.47 billion, a PE ratio of 32.38 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. During the same period last year, the firm earned $0.22 EPS. Moelis & Company's revenue for the quarter was up 41.0% compared to the same quarter last year. On average, analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, May 5th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.56%. Moelis & Company's payout ratio is currently 119.27%.

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.