Wasatch Advisors LP lessened its stake in Moelis & Company (NYSE:MC – Free Report) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,246,593 shares of the asset manager’s stock after selling 496,031 shares during the period. Moelis & Company comprises about 1.4% of Wasatch Advisors LP’s investment portfolio, making the stock its 21st largest position. Wasatch Advisors LP’s holdings in Moelis & Company were worth $212,392,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Moelis & Company by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock valued at $219,588,000 after acquiring an additional 66,697 shares during the last quarter. State Street Corp increased its position in shares of Moelis & Company by 3.2% in the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock worth $178,381,000 after purchasing an additional 89,143 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Moelis & Company by 6.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock worth $149,333,000 after purchasing an additional 135,885 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Moelis & Company by 5.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock valued at $128,989,000 after purchasing an additional 89,365 shares in the last quarter. Finally, Madison Asset Management LLC raised its stake in shares of Moelis & Company by 45.6% in the 1st quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager’s stock valued at $101,103,000 after purchasing an additional 555,557 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on MC shares. Keefe, Bruyette & Woods decreased their price target on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a research note on Friday, July 10th. UBS Group restated a “sell” rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Morgan Stanley increased their target price on Moelis & Company from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Zacks Research upgraded Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average target price of $73.62.
Moelis & Company Price Performance
Shares of MC opened at $66.36 on Wednesday. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22. The stock has a fifty day moving average price of $67.24 and a 200 day moving average price of $64.81. The company has a market cap of $5.19 billion, a P/E ratio of 23.12, a PEG ratio of 0.82 and a beta of 1.84.
Moelis & Company (NYSE:MC – Get Free Report) last posted its earnings results on Wednesday, July 29th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The company had revenue of $409.39 million for the quarter, compared to analysts’ expectations of $387.27 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Moelis & Company will post 3.13 earnings per share for the current year.
Moelis & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 10th will be given a $0.65 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.60 annualized dividend and a yield of 3.9%. Moelis & Company’s dividend payout ratio (DPR) is currently 90.59%.
Insiders Place Their Bets
In related news, General Counsel Osamu R. Watanabe sold 4,850 shares of Moelis & Company stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total value of $336,105.00. Following the sale, the general counsel directly owned 131 shares in the company, valued at $9,078.30. This trade represents a 97.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.29% of the stock is currently owned by corporate insiders.
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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