Picton Mahoney Asset Management Invests $412,000 in Moelis & Company (NYSE:MC)

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

A number of other institutional investors have also modified their holdings of the company. Madison Asset Management LLC boosted its stake in Moelis & Company by 8.5% in the 1st quarter. Madison Asset Management LLC now owns 1,264,200 shares of the asset manager's stock worth $73,779,000 after purchasing an additional 99,313 shares in the last quarter. Northern Trust Corp boosted its stake in Moelis & Company by 4.5% in the 4th quarter. Northern Trust Corp now owns 860,125 shares of the asset manager's stock worth $63,546,000 after purchasing an additional 36,736 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in Moelis & Company by 215.5% in 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 in the last quarter. Norges Bank acquired a new stake in Moelis & Company in the 4th quarter worth approximately $52,610,000. Finally, Bank of America Corp DE boosted its stake in Moelis & Company by 14.3% in the 4th quarter. Bank of America Corp DE now owns 616,604 shares of the asset manager's stock worth $45,555,000 after purchasing an additional 77,224 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods raised their target price on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. reduced their target price on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and raised their target price for the stock from $42.00 to $68.00 in a report on Monday, June 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $66.00.

Moelis & Company Stock Performance

Shares of MC traded down $1.67 during trading hours on Friday, hitting $68.47. The stock had a trading volume of 1,087,355 shares, compared to its average volume of 873,789. The firm has a 50-day moving average price of $63.52 and a 200 day moving average price of $63.45. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 26.96 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21. The company had revenue of $365.38 million during the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The firm's revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. As a group, analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, August 4th. Moelis & Company's payout ratio is presently 102.36%.

Insider Buying and Selling

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the sale, the general counsel owned 131 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company's stock.

Moelis & 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.