Moelis & Company (NYSE:MC) Position Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Moelis & Company (NYSE:MC - Free Report) by 64.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 253,658 shares of the asset manager's stock after buying an additional 99,316 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.34% of Moelis & Company worth $14,803,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Moelis & Company by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,147,315 shares of the asset manager's stock valued at $601,924,000 after purchasing an additional 99,766 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in shares of Moelis & Company during the fourth quarter valued at about $86,062,000. Charles Schwab Investment Management Inc. raised its stake in shares of Moelis & Company by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager's stock valued at $69,119,000 after purchasing an additional 12,632 shares in the last quarter. Northern Trust Corp raised its stake in shares of Moelis & Company by 4.5% during the fourth quarter. Northern Trust Corp now owns 860,125 shares of the asset manager's stock valued at $63,546,000 after purchasing an additional 36,736 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Moelis & Company by 215.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock valued at $53,444,000 after purchasing an additional 494,123 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Wells Fargo & Company cut their price objective on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. lowered their target price on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, The Goldman Sachs Group lifted their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $59.83.

Moelis & Company Stock Up 0.2%

NYSE:MC opened at $56.61 on Monday. The business's 50-day moving average price is $55.92 and its 200 day moving average price is $64.64. The firm has a market cap of $4.44 billion, a P/E ratio of 25.97 and a beta of 1.64. 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 released its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. Moelis & Company's revenue was up 41.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. Sell-side analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were paid a $0.65 dividend. The ex-dividend date was Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.59%. Moelis & Company's dividend payout ratio is currently 119.27%.

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.

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