Verdence Capital Advisors LLC Has $2.26 Million Holdings in Moelis & Company (NYSE:MC)

Verdence Capital Advisors LLC boosted its holdings in Moelis & Company (NYSE:MC - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,675 shares of the asset manager's stock after purchasing an additional 5,113 shares during the quarter. Verdence Capital Advisors LLC owned about 0.05% of Moelis & Company worth $2,257,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MC. CIBC Private Wealth Group LLC raised its holdings in shares of Moelis & Company by 52.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Moelis & Company in the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 worth $38,000 after acquiring an additional 605 shares during the last quarter. Versant Capital Management Inc raised its position in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after purchasing an additional 745 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in Moelis & Company during the 1st quarter valued at $59,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Trading Up 1.3%

NYSE MC opened at $71.98 on Friday. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 33.02 and a beta of 1.64. The company has a 50-day moving average price of $61.06 and a two-hundred day moving average price of $63.70.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. The business had revenue of $306.59 million during the quarter, compared to analyst estimates of $309.67 million. During the same period in the prior year, the business earned $0.22 earnings per share. The business's quarterly revenue was up 41.0% on a year-over-year basis. As a group, equities research analysts expect that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 3.61%. Moelis & Company's payout ratio is presently 119.27%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MC shares. JPMorgan Chase & Co. dropped their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods increased their price objective on Moelis & Company from $69.00 to $89.00 and gave the stock an "outperform" rating in a research report on Monday. The Goldman Sachs Group increased their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Finally, Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $42.00 to $68.00 in a report on Monday, June 23rd. One 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's stock. Based on data from MarketBeat.com, Moelis & Company has an average rating of "Hold" and an average price target of $66.00.

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.

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