Teacher Retirement System of Texas Buys 86,067 Shares of Moelis & Company (NYSE:MC)

Teacher Retirement System of Texas increased its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 346.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,909 shares of the asset manager's stock after purchasing an additional 86,067 shares during the quarter. Teacher Retirement System of Texas owned about 0.15% of Moelis & Company worth $6,473,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MC. Smartleaf Asset Management LLC grew its stake in shares of Moelis & Company by 368.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,016 shares of the asset manager's stock valued at $75,000 after purchasing an additional 799 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Moelis & Company by 148.3% during the fourth quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock valued at $61,000 after purchasing an additional 491 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Moelis & Company by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager's stock valued at $69,119,000 after acquiring an additional 12,632 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Moelis & Company by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 85,865 shares of the asset manager's stock valued at $6,344,000 after acquiring an additional 663 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Moelis & Company in the fourth quarter valued at approximately $10,158,000. 91.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MC. The Goldman Sachs Group raised their price objective on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wall Street Zen cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price objective on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $42.00 to $68.00 in a research note on Monday, June 23rd. One equities research 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.17.

Moelis & Company Stock Up 0.5%

Shares of NYSE MC opened at $65.80 on Monday. The company's fifty day moving average is $58.24 and its 200-day moving average is $63.88. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 30.18 and a beta of 1.64. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. The business's quarterly revenue was up 41.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. On average, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, May 5th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.95%. Moelis & Company's dividend payout ratio is 119.27%.

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.

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