Moelis & Co (NYSE:MC) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,530,000 shares, an increase of 24.4% from the August 30th total of 1,230,000 shares. Based on an average daily volume of 461,700 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.2% of the shares of the stock are sold short.
Several research firms have recently weighed in on MC. Zacks Investment Research cut shares of Moelis & Co from a “hold” rating to a “sell” rating and set a $38.00 price target on the stock. in a report on Monday, August 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $39.00 price target (down previously from $42.00) on shares of Moelis & Co in a report on Wednesday, July 31st. ValuEngine raised shares of Moelis & Co from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley decreased their price target on shares of Moelis & Co from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Buckingham Research reduced their target price on Moelis & Co from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Moelis & Co currently has an average rating of “Hold” and an average price target of $44.63.
In other news, CFO Joseph Simon sold 17,528 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $33.64, for a total value of $589,641.92. Following the transaction, the chief financial officer now owns 43,374 shares of the company’s stock, valued at $1,459,101.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 19.67% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MC. Artemis Investment Management LLP grew its stake in shares of Moelis & Co by 29.8% during the second quarter. Artemis Investment Management LLP now owns 601,106 shares of the asset manager’s stock valued at $20,966,000 after buying an additional 138,158 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Moelis & Co by 26.6% during the second quarter. WCM Investment Management LLC now owns 35,758 shares of the asset manager’s stock valued at $1,250,000 after buying an additional 7,506 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Moelis & Co by 618.8% during the second quarter. Advisor Group Inc. now owns 20,292 shares of the asset manager’s stock valued at $709,000 after buying an additional 17,469 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Moelis & Co during the second quarter valued at about $276,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Moelis & Co during the second quarter valued at about $1,382,000. 74.84% of the stock is currently owned by institutional investors and hedge funds.
MC traded up $1.45 during trading on Friday, reaching $31.65. The stock had a trading volume of 566,358 shares, compared to its average volume of 509,002. The stock has a market cap of $1.89 billion, a PE ratio of 10.55 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.18 and a current ratio of 7.18. Moelis & Co has a one year low of $29.56 and a one year high of $52.90. The business has a 50-day moving average of $32.91 and a 200-day moving average of $35.04.
Moelis & Co (NYSE:MC) last released its earnings results on Tuesday, July 30th. The asset manager reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.22. The business had revenue of $153.50 million for the quarter, compared to analysts’ expectations of $153.84 million. Moelis & Co had a return on equity of 46.30% and a net margin of 15.56%. The firm’s revenue was down 30.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities research analysts forecast that Moelis & Co will post 2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 9th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a yield of 6.32%. Moelis & Co’s dividend payout ratio is presently 66.67%.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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