Y Intercept Hong Kong Ltd purchased a new stake in shares of Moelis & Company (NYSE:MC – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 69,769 shares of the asset manager’s stock, valued at approximately $3,977,000. Y Intercept Hong Kong Ltd owned about 0.09% of Moelis & Company as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in shares of Moelis & Company by 64.4% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after purchasing an additional 163 shares during the period. Wesbanco Bank Inc. increased its holdings in Moelis & Company by 2.1% during the fourth quarter. Wesbanco Bank Inc. now owns 8,889 shares of the asset manager’s stock valued at $611,000 after buying an additional 180 shares during the last quarter. GW Henssler & Associates Ltd. raised its position in Moelis & Company by 5.6% in the fourth quarter. GW Henssler & Associates Ltd. now owns 3,433 shares of the asset manager’s stock worth $236,000 after acquiring an additional 181 shares during the period. Oregon Public Employees Retirement Fund raised its position in Moelis & Company by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,955 shares of the asset manager’s stock worth $1,165,000 after acquiring an additional 200 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Moelis & Company by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock worth $4,310,000 after acquiring an additional 209 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on MC shares. Wall Street Zen downgraded shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. UBS Group lowered their target price on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. The Goldman Sachs Group reduced their price target on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Morgan Stanley lowered their price objective on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.89.
Moelis & Company Price Performance
MC stock opened at $68.43 on Monday. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 0.82 and a beta of 1.85. The business has a 50 day simple moving average of $66.51 and a two-hundred day simple moving average of $65.87.
Moelis & Company (NYSE:MC – Get Free Report) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $319.78 million for the quarter, compared to analysts’ expectations of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Sell-side analysts anticipate that Moelis & Company will post 3.17 EPS for the current fiscal year.
Moelis & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 11th. Moelis & Company’s payout ratio is 93.53%.
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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.
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