Quantinno Capital Management LP lifted its holdings in Moelis & Company (NYSE:MC - Free Report) by 203.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 87,535 shares of the asset manager's stock after purchasing an additional 58,698 shares during the period. Quantinno Capital Management LP owned about 0.11% of Moelis & Company worth $4,990,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management L.P. bought a new position in Moelis & Company in the fourth quarter worth approximately $60,857,000. Norges Bank bought a new stake in Moelis & Company during the 4th quarter valued at $42,919,000. The Manufacturers Life Insurance Company boosted its position 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 valued at $41,231,000 after acquiring an additional 609,162 shares in the last quarter. Madison Asset Management LLC increased its holdings in shares of Moelis & Company by 45.6% in the 1st quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager's stock valued at $101,103,000 after acquiring an additional 555,557 shares during the period. Finally, Wasatch Advisors LP increased its holdings in shares of Moelis & Company by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager's stock valued at $235,654,000 after acquiring an additional 458,575 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Friday, July 10th. Wall Street Zen upgraded Moelis & Company from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Morgan Stanley boosted their target price on shares of Moelis & Company from $83.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Finally, UBS Group restated a "sell" rating and issued a $60.00 price target (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $73.62.
Check Out Our Latest Analysis on MC
Insider Buying and Selling at Moelis & Company
In other news, General Counsel Osamu R. Watanabe sold 4,850 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $69.30, for a total transaction of $336,105.00. Following the sale, the general counsel owned 131 shares in the company, valued at approximately $9,078.30. The trade was a 97.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.29% of the company's stock.
Moelis & Company Trading Down 3.3%
Shares of MC stock opened at $67.14 on Friday. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The business's fifty day simple moving average is $67.43 and its 200-day simple moving average is $65.04. The company has a market cap of $5.27 billion, a PE ratio of 23.39, a PEG ratio of 0.90 and a beta of 1.84.
Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The firm had revenue of $409.39 million during the quarter, compared to analysts' expectations of $387.27 million. During the same quarter last year, the firm earned $0.53 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Moelis & Company will post 3.13 earnings per share for the current year.
Moelis & Company Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 10th. Moelis & Company's dividend payout ratio (DPR) is currently 90.59%.
About Moelis & Company
(
Free Report)
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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