Moelis & Company $MC Stake Boosted by Odyssean LLC

Key Points

• Odyssean LLC increased its Moelis & Company stake by 70.7% in the second quarter, bringing its holdings to 43,912 shares valued at approximately $2.87 million. Institutional investors collectively own 91.53% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $73.62. Ratings range from Morgan Stanley’s “overweight” recommendation to UBS Group’s “sell” rating.
• Moelis exceeded quarterly expectations, reporting $0.63 in earnings per share and $409.39 million in revenue, while revenue rose 12% year over year. The company also declared a $0.65 quarterly dividend, equivalent to a 3.8% annualized yield.

Odyssean LLC boosted its holdings in Moelis & Company (NYSE:MC - Free Report) by 70.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,912 shares of the asset manager's stock after purchasing an additional 18,194 shares during the quarter. Odyssean LLC owned approximately 0.06% of Moelis & Company worth $2,873,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its position in shares of Moelis & Company by 9.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager's stock worth $280,000 after buying an additional 432 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Moelis & Company by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager's stock valued at $2,456,000 after buying an additional 1,839 shares during the period. United Services Automobile Association acquired a new position in shares of Moelis & Company in the 1st quarter valued at about $264,000. Empowered Funds LLC grew its position in shares of Moelis & Company by 37.6% during the 1st quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager's stock valued at $2,499,000 after buying an additional 11,692 shares during the last quarter. Finally, Creative Planning grew its position in shares of Moelis & Company by 14.2% during the 2nd quarter. Creative Planning now owns 6,639 shares of the asset manager's stock valued at $414,000 after buying an additional 827 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. UBS Group reissued a "sell" rating and issued a $60.00 target price (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Wall Street Zen raised Moelis & Company from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Morgan Stanley increased their price target on Moelis & Company from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Weiss Ratings restated a "hold (c)" rating on shares of Moelis & Company in a research report on Friday, August 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $73.62.

Moelis & Company Stock Down 0.0%

Shares of NYSE:MC opened at $69.12 on Friday. The company's 50-day moving average price is $67.36 and its 200 day moving average price is $64.40. The company has a market cap of $5.41 billion, a PE ratio of 24.08, a P/E/G ratio of 0.91 and a beta of 1.84. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $409.39 million during the quarter, compared to analysts' expectations of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. Moelis & Company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, equities analysts anticipate that Moelis & Company will post 3.09 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 10th. Moelis & Company's dividend payout ratio is 90.59%.

Insider Activity at Moelis & Company

In related news, Director Kenneth Shropshire sold 1,881 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the sale, the director directly owned 7,633 shares in the company, valued at $527,134.98. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Osamu Watanabe sold 4,850 shares of Moelis & Company stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total value of $336,105.00. Following the sale, the general counsel directly owned 131 shares in the company, valued at $9,078.30. The trade was a 97.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.29% of the stock is owned by company insiders.

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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