Moelis & Company (NYSE:MC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Moelis & Company (NYSE:MC - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,342 shares of the asset manager's stock after purchasing an additional 10,601 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.21% of Moelis & Company worth $11,403,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MC. Madison Investment Advisors LLC purchased a new position in shares of Moelis & Company in the 4th quarter worth approximately $86,062,000. Norges Bank purchased a new position in Moelis & Company in the fourth quarter worth $52,610,000. Balyasny Asset Management L.P. increased its position 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 worth $53,444,000 after purchasing an additional 494,123 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Moelis & Company during the 4th quarter valued at $27,855,000. Finally, Capital Research Global Investors purchased a new stake in shares of Moelis & Company during the 4th quarter valued at $20,720,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wall Street Zen cut Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. The Goldman Sachs Group increased their price objective on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 target price (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $59.83.

Moelis & Company Trading Down 0.8%

MC traded down $0.44 during midday trading on Wednesday, hitting $56.98. 763,047 shares of the company traded hands, compared to its average volume of 776,932. The business has a 50 day simple moving average of $54.92 and a two-hundred day simple moving average of $66.29. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 32.38 and a beta of 1.66.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. Moelis & Company's revenue was up 41.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a $0.65 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.56%. Moelis & Company's payout ratio is currently 119.27%.

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.