Natixis Advisors LLC Raises Holdings in Moelis & Company (NYSE:MC)

Key Points

• Natixis Advisors LLC increased its stake in Moelis & Company by 3.5%, now owning approximately 0.78% of the firm with a valuation of $35.9 million.
• The company recently reported earnings of $0.53 EPS, exceeding estimates of $0.32, with revenue rising 38.1% year-over-year.
• Moelis & Company is set to pay a quarterly dividend of $0.65 on September 18, 2023, representing a dividend yield of 3.7%.

Natixis Advisors LLC lifted its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 615,169 shares of the asset manager's stock after purchasing an additional 20,702 shares during the period. Natixis Advisors LLC owned 0.78% of Moelis & Company worth $35,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after acquiring an additional 457 shares during the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Moelis & Company by 29.4% in the first quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager's stock worth $4,067,000 after acquiring an additional 17,322 shares during the period. Pinnacle Financial Partners Inc bought a new position in shares of Moelis & Company in the first quarter worth $334,000. Wealth Enhancement Advisory Services LLC boosted its stake in Moelis & Company by 64.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 253,658 shares of the asset manager's stock valued at $14,803,000 after buying an additional 99,316 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Moelis & Company during the first quarter valued at $3,331,000. Institutional investors own 91.53% of the company's stock.

Insider Buying and Selling

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

Moelis & Company Trading Up 1.2%

NYSE MC traded up $0.87 during trading on Tuesday, hitting $70.25. The company had a trading volume of 375,813 shares, compared to its average volume of 952,111. The company's fifty day moving average is $63.78 and its 200-day moving average is $63.23. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 27.65 and a beta of 1.70. Moelis & Company has a one year low of $47.00 and a one year high of $82.89.

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

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, August 4th. Moelis & Company's payout ratio is presently 102.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their price target on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. The Goldman Sachs Group lifted their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Finally, Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their target price for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Moelis & Company has an average rating of "Hold" and a consensus price target of $66.00.

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.