Picton Mahoney Asset Management Takes Position in Moelis & Company (NYSE:MC)

Picton Mahoney Asset Management purchased a new stake in shares of Moelis & Company (NYSE:MC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,066 shares of the asset manager's stock, valued at approximately $412,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock worth $30,000 after buying an additional 137 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Moelis & Company during the 4th quarter worth about $31,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 during the last quarter. Versant Capital Management Inc raised its position in Moelis & Company by 1,460.8% in the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock worth $46,000 after purchasing an additional 745 shares during the period. Finally, NBC Securities Inc. bought a new stake in Moelis & Company in the first quarter worth about $59,000. Institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods lifted their target price on Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. One investment 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. Based on data from MarketBeat.com, Moelis & Company presently has an average rating of "Hold" and a consensus price target of $66.00.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the transaction, the general counsel directly owned 131 shares in the company, valued at approximately $9,515.84. The trade was a 97.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.40% of the company's stock.

Moelis & Company Stock Up 2.5%

MC traded up $1.72 during trading on Monday, reaching $69.65. The company's stock had a trading volume of 185,092 shares, compared to its average volume of 953,498. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 27.40 and a beta of 1.70. The firm has a fifty day simple moving average of $63.52 and a two-hundred day simple moving average of $63.28.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.21. The firm 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 period in the previous year, the company earned $0.18 earnings per share. As a group, equities analysts forecast that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

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

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.