Moelis & Company (NYSE:MC) Shares Bought by Mackenzie Financial Corp

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 boosted its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 39.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,761 shares of the asset manager's stock after buying an additional 7,801 shares during the quarter. Mackenzie Financial Corp's holdings in Moelis & Company were worth $1,620,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its position in shares of Moelis & Company by 215.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager's stock worth $53,444,000 after purchasing an additional 494,123 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager's stock worth $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Moelis & Company during the 4th quarter worth $27,855,000. Capital Research Global Investors purchased a new stake in shares of Moelis & Company during the 4th quarter worth $20,720,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Moelis & Company during the 4th quarter worth $16,396,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the transaction, the general counsel directly owned 131 shares in the company, valued at $9,515.84. The trade was a 97.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is currently owned by company insiders.

Moelis & Company Stock Up 1.1%

Shares of Moelis & Company stock opened at $69.36 on Tuesday. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The company's 50-day simple moving average is $63.78 and its 200-day simple moving average is $63.23. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 27.31 and a beta of 1.70.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business's revenue was up 38.1% compared to the same quarter last year. Equities research analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on MC shares. JMP Securities reiterated a "market perform" rating on shares of Moelis & 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. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. Wells Fargo & Company lifted their price objective on shares of 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, JPMorgan Chase & Co. dropped their price objective on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $66.00.

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.

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