Moelis & Company $MC Stock Position Raised by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC sharply increased its stake in Moelis & Company by 541.5% in the fourth quarter, bringing its holdings to 19,726 shares valued at about $1.36 million.
• Moelis reported mixed quarterly results, with earnings of $0.50 per share missing estimates of $0.59, while revenue came in slightly below expectations at $319.78 million.
• Analyst sentiment is cautious: the stock has an average “Hold” rating, with a consensus price target of $73.38, while recent target cuts and sell ratings reflect some skepticism.

Hsbc Holdings PLC increased its stake in Moelis & Company (NYSE:MC - Free Report) by 541.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,726 shares of the asset manager's stock after acquiring 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 have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its position in shares of Moelis & Company by 11.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,512 shares of the asset manager's stock valued at $379,000 after purchasing an additional 548 shares during the period. Corient Private Wealth LLC raised its stake in Moelis & Company by 43.6% during the 4th quarter. Corient Private Wealth LLC now owns 10,486 shares of the asset manager's stock valued at $721,000 after purchasing an additional 3,182 shares during the period. DGS Capital Management LLC increased its holdings in shares of Moelis & Company by 50.8% in the 4th quarter. DGS Capital Management LLC now owns 6,912 shares of the asset manager's stock valued at $475,000 after purchasing an additional 2,329 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Moelis & Company by 18.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,962 shares of the asset manager's stock valued at $1,028,000 after buying an additional 2,287 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Moelis & Company by 16.3% in the fourth quarter. Empowered Funds LLC now owns 76,054 shares of the asset manager's stock worth $5,228,000 after acquiring an additional 10,635 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Down 0.0%

MC stock opened at $63.72 on Monday. The stock has a 50-day moving average price of $66.37 and a two-hundred day moving average price of $65.77. Moelis & Company has a 1 year low of $51.06 and a 1 year high of $78.22. The stock has a market cap of $5.01 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.77 and a beta of 1.85.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $319.78 million during the quarter, compared to the consensus estimate of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The company's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, analysts forecast that Moelis & Company will post 3.14 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, May 11th. Moelis & Company's payout ratio is presently 93.53%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MC shares. Morgan Stanley dropped their price objective on Moelis & Company from $90.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods reduced their price objective on Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a research report on Friday. UBS Group reiterated a "sell" rating and issued a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Weiss Ratings downgraded shares of Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Finally, The Goldman Sachs Group decreased their price objective on Moelis & Company from $70.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, April 1st. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Moelis & Company has an average rating of "Hold" and a consensus price target of $73.38.

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. 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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