Deutsche Bank AG Purchases 37,964 Shares of Moelis & Company $MC

Key Points

• Deutsche Bank AG increased its stake in Moelis & Company by 14.9%, holding approximately 293,408 shares valued at $17.1 million at the end of the first quarter.
• Moelis & Company reported an earnings per share (EPS) of $0.53 for the last quarter, surpassing analysts' estimates, with a revenue of $365.38 million, a 38.1% increase from the previous year.
• The company declared a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 3.5% and a payout ratio of 102.36%.

Deutsche Bank AG increased its stake in Moelis & Company (NYSE:MC - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 293,408 shares of the asset manager's stock after purchasing an additional 37,964 shares during the quarter. Deutsche Bank AG owned about 0.37% of Moelis & Company worth $17,123,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MC. MassMutual Private Wealth & Trust FSB boosted its stake in Moelis & Company by 1,551.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after buying an additional 605 shares during the period. Versant Capital Management Inc boosted its stake in Moelis & Company by 1,460.8% during the first quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after buying an additional 745 shares during the period. NBC Securities Inc. bought a new stake in Moelis & Company during the first quarter worth about $59,000. GAMMA Investing LLC lifted its stake in Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock worth $95,000 after purchasing an additional 457 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Moelis & Company during the first quarter worth about $107,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MC has been the topic of several analyst reports. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods lifted their price objective on Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $42.00 to $68.00 in a report on Monday, June 23rd. Finally, The Goldman Sachs Group lifted their price objective on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $66.00.

Insider Buying and Selling at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the company's stock in a transaction that occurred 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 owned 131 shares in the company, valued at $9,515.84. This represents a 97.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by insiders.

Moelis & Company Price Performance

MC traded down $0.70 during midday trading on Monday, reaching $71.38. 128,966 shares of the company's stock traded hands, compared to its average volume of 934,262. The firm has a fifty day moving average of $66.34 and a two-hundred day moving average of $62.85. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 28.08 and a beta of 1.70. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89.

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 for the quarter, topping 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 for the quarter, compared to the consensus estimate of $269.57 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business's revenue for the quarter was up 38.1% on a year-over-year basis. Sell-side analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

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

Moelis & 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.