New Age Alpha Advisors LLC Has $4.19 Million Holdings in Moelis & Company $MC

Key Points

• New Age Alpha Advisors sharply increased its stake in Moelis & Company, boosting holdings by 3,278.1% in the fourth quarter to 60,908 shares worth about $4.19 million.
• Institutional interest in MC remains high, with hedge funds and other institutions owning 91.53% of the company’s stock; several firms also recently added to their positions.
• Moelis & Company recently missed earnings expectations for the quarter, and analysts currently rate the stock a Hold overall with a consensus price target of $71.89.

New Age Alpha Advisors LLC increased its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 3,278.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,908 shares of the asset manager's stock after buying an additional 59,105 shares during the quarter. New Age Alpha Advisors LLC owned 0.08% of Moelis & Company worth $4,187,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MC. The Manufacturers Life Insurance Company raised its stake in Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager's stock worth $41,231,000 after buying an additional 609,162 shares during the period. Wasatch Advisors LP increased its holdings in Moelis & Company by 16.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager's stock worth $235,654,000 after purchasing an additional 458,575 shares in the last quarter. UBS Group AG increased its holdings in Moelis & Company by 50.0% during the 3rd quarter. UBS Group AG now owns 681,668 shares of the asset manager's stock worth $48,617,000 after purchasing an additional 227,232 shares in the last quarter. HighTower Advisors LLC increased its holdings in Moelis & Company by 18.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,256,324 shares of the asset manager's stock worth $89,601,000 after purchasing an additional 196,030 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Moelis & Company by 714.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 182,147 shares of the asset manager's stock worth $12,521,000 after purchasing an additional 159,779 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

MC has been the subject of a number of research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Moelis & Company in a report on Tuesday, May 12th. UBS Group lowered their target price on Moelis & Company from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Wednesday, April 8th. Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $80.00 to $64.00 and set a "market perform" rating for the company in a report on Wednesday, April 8th. Wall Street Zen cut Moelis & Company from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. increased their target price on Moelis & Company from $80.00 to $81.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $71.89.

Moelis & Company Trading Up 0.2%

MC stock opened at $65.92 on Tuesday. The stock has a 50-day moving average price of $61.67 and a two-hundred day moving average price of $65.36. The stock has a market cap of $5.18 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 0.79 and a beta of 1.87. Moelis & Company has a 1 year low of $51.06 and a 1 year high of $78.22.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The firm had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.Moelis & Company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, analysts forecast that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, May 11th will be issued a $0.65 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. Moelis & Company's dividend payout ratio (DPR) is presently 93.53%.

About Moelis & Company

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.

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