Moelis & Company $MC Shares Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC boosted its stake in Moelis & Company by 541.5% in the fourth quarter, adding 16,651 shares to bring its total to 19,726 shares worth about $1.36 million.
• Moelis reported quarterly earnings of $0.50 per share, missing Wall Street’s estimate of $0.59, while revenue came in slightly below expectations at $319.78 million.
• The company paid a quarterly dividend of $0.65 per share, or $2.60 annualized, which implies a yield of 3.9%; analysts currently rate the stock a consensus Hold with a $71.89 price target.

Hsbc Holdings PLC raised its position in Moelis & Company (NYSE:MC - Free Report) by 541.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,726 shares of the asset manager's stock after purchasing an additional 16,651 shares during the quarter. Hsbc Holdings PLC's holdings in Moelis & Company were worth $1,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors LP increased its position in Moelis & Company by 3.9% during the 4th quarter. Wasatch Advisors LP now owns 3,432,623 shares of the asset manager's stock worth $235,959,000 after purchasing an additional 128,443 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Moelis & Company by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager's stock valued at $219,588,000 after buying an additional 66,697 shares in the last quarter. State Street Corp grew its stake in Moelis & Company by 3.2% during the second quarter. State Street Corp now owns 2,862,337 shares of the asset manager's stock worth $178,381,000 after buying an additional 89,143 shares during the period. Ameriprise Financial Inc. grew its stake in Moelis & Company by 6.0% during the second quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager's stock worth $149,333,000 after buying an additional 135,885 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Moelis & Company by 5.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager's stock worth $128,989,000 after buying an additional 89,365 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

NYSE MC opened at $66.55 on Thursday. Moelis & Company has a one year low of $51.06 and a one year high of $78.22. The company has a 50-day simple moving average of $66.49 and a 200-day simple moving average of $65.89. The firm has a market capitalization of $5.23 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 0.78 and a beta of 1.85.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $319.78 million for the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.Moelis & Company's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. Equities analysts forecast that Moelis & Company will post 3.17 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, May 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 11th. Moelis & Company's dividend payout ratio is presently 93.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MC shares. The Goldman Sachs Group cut their target price on shares of Moelis & Company from $70.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Keefe, Bruyette & Woods cut their price objective on Moelis & Company from $80.00 to $64.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings downgraded Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. UBS Group dropped their target price on Moelis & Company from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Wednesday, April 8th. Finally, Morgan Stanley reduced their price target on Moelis & Company from $90.00 to $83.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $71.89.

Moelis & Company 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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.

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