Y Intercept Hong Kong Ltd Buys Shares of 24,384 Moelis & Company (NYSE:MC)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Moelis & Company (NYSE:MC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,384 shares of the asset manager's stock, valued at approximately $1,423,000.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its position in shares of Moelis & Company by 52.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Moelis & Company in the fourth quarter worth $31,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Moelis & Company by 1,551.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock worth $38,000 after buying an additional 605 shares during the period. Versant Capital Management Inc grew its holdings in shares of Moelis & Company by 1,460.8% during the first quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock valued at $46,000 after buying an additional 745 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in shares of Moelis & Company during the first quarter valued at $59,000. Institutional investors and hedge funds own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

MC has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised their price objective on Moelis & Company from $50.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their target price for the stock from $42.00 to $68.00 in a report on Monday, June 23rd. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Moelis & Company presently has an average rating of "Hold" and a consensus target price of $66.00.

Moelis & Company Price Performance

Shares of MC stock traded down $0.78 on Friday, hitting $70.26. The stock had a trading volume of 1,564,320 shares, compared to its average volume of 828,817. The company's 50 day moving average price is $62.30 and its 200-day moving average price is $63.46. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The firm has a market capitalization of $5.52 billion, a P/E ratio of 27.66 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. Moelis & Company had a return on equity of 45.30% and a net margin of 14.31%. The business had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company's revenue was up 38.1% on a year-over-year basis. On average, equities analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be paid a $0.65 dividend. The ex-dividend date is Monday, August 4th. This represents a $2.60 annualized dividend and a yield of 3.70%. Moelis & Company's dividend payout ratio is currently 102.36%.

Moelis & Company 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.