Moelis & Company $MC Stake Decreased by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Moelis & Company by 30.2% in Q1, now owning 63,940 shares valued at approximately $3.73 million.
• Moelis & Company reported an EPS of $0.53, exceeding estimates, with a revenue of $365.38 million, marking a 38.1% increase year-over-year.
• Moelis & Company declared a quarterly dividend of $0.65 per share, resulting in an annualized yield of 3.7%, despite a payout ratio exceeding 100%.

Algert Global LLC cut its position in Moelis & Company (NYSE:MC - Free Report) by 30.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,940 shares of the asset manager's stock after selling 27,670 shares during the quarter. Algert Global LLC owned 0.08% of Moelis & Company worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MC. Barclays PLC lifted its stake in shares of Moelis & Company by 1.3% in the fourth quarter. Barclays PLC now owns 143,951 shares of the asset manager's stock worth $10,635,000 after acquiring an additional 1,813 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Moelis & Company in the 4th quarter valued at approximately $1,441,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Moelis & Company by 2.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 81,534 shares of the asset manager's stock valued at $6,024,000 after buying an additional 2,248 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Moelis & Company during the 4th quarter valued at approximately $20,720,000. Finally, MetLife Investment Management LLC grew its position in shares of Moelis & Company by 7.2% during the fourth quarter. MetLife Investment Management LLC now owns 42,623 shares of the asset manager's stock worth $3,149,000 after buying an additional 2,850 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price target for the company from $42.00 to $68.00 in a report on Monday, June 23rd. Wells Fargo & Company upped their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Zacks Research raised Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Monday, August 18th. Finally, The Goldman Sachs Group upped their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and a consensus price target of $66.00.

Moelis & Company Stock Performance

Shares of NYSE MC traded up $3.2220 during midday trading on Friday, hitting $72.6020. The company's stock had a trading volume of 829,003 shares, compared to its average volume of 751,375. The firm has a market cap of $5.70 billion, a P/E ratio of 28.58 and a beta of 1.70. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The firm's fifty day moving average price is $67.66 and its 200-day moving average price is $62.70.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. The company had revenue of $365.38 million during the quarter, compared to the consensus estimate of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.Moelis & Company's quarterly revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

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

Insider Buying and Selling

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $72.64, for a total value of $460,537.60. Following the sale, the general counsel directly owned 131 shares of the company's stock, valued at $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is currently owned by insiders.

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.