Capital Management Corp VA grew its position in Moelis & Company (NYSE:MC - Free Report) by 17.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,151 shares of the asset manager's stock after buying an additional 36,498 shares during the quarter. Moelis & Company makes up approximately 2.6% of Capital Management Corp VA's portfolio, making the stock its 17th largest position. Capital Management Corp VA owned approximately 0.31% of Moelis & Company worth $15,340,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Fulton Bank N.A. lifted its position in shares of Moelis & Company by 2.9% in the second quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager's stock worth $410,000 after purchasing an additional 188 shares in the last quarter. Palisades Investment Partners LLC boosted its holdings in shares of 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 during the period. Choreo LLC boosted its holdings in Moelis & Company by 5.1% during the first quarter. Choreo LLC now owns 5,075 shares of the asset manager's stock valued at $296,000 after acquiring an additional 244 shares during the period. Peak Financial Advisors LLC grew its holdings in Moelis & Company by 2.9% in the 2nd quarter. Peak Financial Advisors LLC now owns 8,814 shares of the asset manager's stock valued at $549,000 after buying an additional 247 shares during the last quarter. Finally, New England Research & Management Inc. grew its stake in shares of Moelis & Company by 1.7% in the second quarter. New England Research & Management Inc. now owns 15,375 shares of the asset manager's stock worth $958,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.
Analyst Ratings Changes
A number of research firms recently weighed in on MC. Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a research report on Thursday, October 9th. They set a "buy" rating and a $80.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Moelis & Company from $89.00 to $80.00 and set a "moderate buy" rating on the stock in a report on Monday. BMO Capital Markets assumed coverage on Moelis & Company in a report on Friday, October 3rd. They set a "market perform" rating and a $74.00 price target for the company. Zacks Research cut shares of Moelis & Company from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Moelis & Company in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $71.86.
View Our Latest Analysis on Moelis & Company
Insider Transactions at Moelis & Company
In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel owned 131 shares in the company, valued at approximately $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the transaction, the director owned 7,109 shares of the company's stock, valued at approximately $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 Stock Performance
Shares of NYSE:MC opened at $67.83 on Wednesday. The company has a market capitalization of $5.32 billion, a PE ratio of 26.70 and a beta of 1.77. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89. The company has a 50 day moving average price of $71.53 and a two-hundred day moving average price of $63.75.
Moelis & Company (NYSE:MC - Get Free Report) last posted 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 return on equity of 42.72% and a net margin of 14.31%.The firm 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 firm earned $0.18 earnings per share. The company's revenue was up 38.1% on a year-over-year basis. On average, sell-side analysts forecast that Moelis & Company will post 2.97 earnings per share for the current year.
Moelis & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Monday, August 4th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, August 4th. Moelis & Company's payout ratio is currently 102.36%.
About Moelis & Company
(
Free Report)
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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