First Eagle Investment Management LLC increased its holdings in shares of Moelis & Company (NYSE:MC – Get Rating) by 627.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,708 shares of the asset manager’s stock after acquiring an additional 17,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Moelis & Company were worth $1,232,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Moelis & Company by 0.7% in the 3rd quarter. BlackRock Inc. now owns 4,561,819 shares of the asset manager’s stock worth $282,239,000 after purchasing an additional 33,385 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Moelis & Company by 1.6% during the third quarter. Wasatch Advisors Inc. now owns 1,016,927 shares of the asset manager’s stock valued at $62,917,000 after acquiring an additional 15,829 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Moelis & Company by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 953,514 shares of the asset manager’s stock valued at $59,604,000 after acquiring an additional 7,794 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in shares of Moelis & Company by 1.7% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 768,726 shares of the asset manager’s stock valued at $48,053,000 after acquiring an additional 13,074 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Moelis & Company by 52.4% during the third quarter. Lord Abbett & CO. LLC now owns 671,633 shares of the asset manager’s stock valued at $41,554,000 after acquiring an additional 230,909 shares during the period. Hedge funds and other institutional investors own 86.17% of the company’s stock.
Several research analysts have issued reports on MC shares. Piper Sandler lowered shares of Moelis & Company from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $52.00 to $50.00 in a research report on Thursday, April 28th. StockNews.com began coverage on shares of Moelis & Company in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on shares of Moelis & Company from $65.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 8th. The Goldman Sachs Group decreased their price objective on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 12th. Finally, Zacks Investment Research lowered shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $54.00 price objective for the company. in a research note on Monday, February 14th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $56.43.
Shares of MC stock traded up $1.51 on Friday, hitting $42.15. The company’s stock had a trading volume of 519,752 shares, compared to its average volume of 568,015. Moelis & Company has a fifty-two week low of $39.94 and a fifty-two week high of $77.49. The firm’s fifty day moving average price is $45.47 and its 200-day moving average price is $55.15. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 7.98 and a beta of 1.20.
Moelis & Company (NYSE:MC – Get Rating) last announced its earnings results on Wednesday, April 27th. The asset manager reported $0.95 EPS for the quarter, topping the consensus estimate of $0.79 by $0.16. Moelis & Company had a net margin of 23.08% and a return on equity of 89.78%. During the same period in the prior year, the firm posted $0.75 EPS. As a group, equities analysts predict that Moelis & Company will post 3.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Investors of record on Monday, May 9th will be issued a $0.60 dividend. The ex-dividend date is Friday, May 6th. This represents a $2.40 annualized dividend and a yield of 5.69%. Moelis & Company’s dividend payout ratio (DPR) is presently 45.45%.
Moelis & Company Profile (Get Rating)
Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.
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