Mackenzie Financial Corp Acquires 7,801 Shares of Moelis & Company (NYSE:MC)

Key Points

• Mackenzie Financial Corp increased its holdings in Moelis & Company by 39.1%, acquiring additional shares valued at approximately $1.62 million during the first quarter.
• Moelis & Company reported earnings of $0.53 per share, exceeding analysts' expectations, with revenues rising 38.1% year-over-year to $365.38 million for the last quarter.
• The company announced a quarterly dividend of $0.65 per share, representing an annualized yield of 3.7%, although its payout ratio stands at 102.36%.

Mackenzie Financial Corp increased its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 39.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,761 shares of the asset manager's stock after acquiring an additional 7,801 shares during the quarter. Mackenzie Financial Corp's holdings in Moelis & Company were worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its position in shares of Moelis & Company by 52.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock worth $30,000 after acquiring an additional 137 shares during the period. Headlands Technologies LLC bought a new position in Moelis & Company in the fourth quarter worth $31,000. MassMutual Private Wealth & Trust FSB lifted its position in Moelis & Company by 1,551.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock worth $38,000 after purchasing 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 worth $46,000 after buying an additional 745 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Moelis & Company in the 1st quarter valued at $59,000. Institutional investors own 91.53% of the company's stock.

Insider Transactions at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the 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 sale, the general counsel owned 131 shares in the company, valued at approximately $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

MC has been the subject of a number of analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and increased their price target for the stock from $42.00 to $68.00 in a research report on Monday, June 23rd. JPMorgan Chase & Co. decreased their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company upped their price objective on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group increased 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.00.

Moelis & Company Stock Up 1.5%

NYSE:MC traded up $1.07 on Friday, reaching $70.56. The stock had a trading volume of 122,205 shares, compared to its average volume of 944,320. The company has a market capitalization of $5.54 billion, a P/E ratio of 27.78 and a beta of 1.70. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The stock has a fifty day moving average price of $64.51 and a 200-day moving average price of $63.27.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. The company had revenue of $365.38 million during the quarter, compared to analysts' expectations of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. Moelis & Company's quarterly revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Sell-side analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

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

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.