Moelis & Company (NYSE:MC) Shares Acquired by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its holdings in Moelis & Company by 27.3% in the first quarter, owning approximately 0.29% of the company valued at $13.06 million.
• Moelis & Company reported earnings of $0.53 per share for the last quarter, surpassing estimates and reflecting a 38.1% increase in revenue year-over-year.
• The firm declared a quarterly dividend of $0.65, expected to be paid on September 18, with an annualized dividend yield of 3.5%, though the payout ratio is currently over 100%.

Public Sector Pension Investment Board raised its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,818 shares of the asset manager's stock after purchasing an additional 47,975 shares during the quarter. Public Sector Pension Investment Board owned about 0.29% of Moelis & Company worth $13,062,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in Moelis & Company by 1,551.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after purchasing an additional 605 shares in the last quarter. Versant Capital Management Inc increased its stake in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after purchasing an additional 745 shares in the last quarter. NBC Securities Inc. acquired a new position in Moelis & Company during the 1st quarter valued at approximately $59,000. GAMMA Investing LLC increased its stake in Moelis & Company by 38.9% during the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after purchasing an additional 457 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Moelis & Company during the 1st quarter valued at approximately $107,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Insider Transactions at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the firm'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 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 is accessible through this link. Insiders own 6.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MC shares. JPMorgan Chase & Co. cut 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. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Keefe, Bruyette & Woods increased their price objective on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 14th. 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 report on Thursday, May 15th. Finally, Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and increased their price objective for the company from $42.00 to $68.00 in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $66.00.

Moelis & Company Stock Performance

Shares of NYSE:MC traded down $2.34 during midday trading on Friday, hitting $72.01. The company's stock had a trading volume of 569,161 shares, compared to its average volume of 873,616. The business's 50 day simple moving average is $66.34 and its 200 day simple moving average is $63.05. The company has a market cap of $5.65 billion, a P/E ratio of 28.35 and a beta of 1.70. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $269.57 million. During the same period last year, the business earned $0.18 earnings per share. Moelis & Company's revenue was up 38.1% compared to the same quarter last year. On average, sell-side analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio (DPR) 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.