Wasatch Advisors LP lifted its stake in Moelis & Company (NYSE:MC – Free Report) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 3,742,624 shares of the asset manager’s stock after purchasing an additional 310,001 shares during the quarter. Moelis & Company accounts for approximately 1.4% of Wasatch Advisors LP’s portfolio, making the stock its 20th biggest position. Wasatch Advisors LP’s holdings in Moelis & Company were worth $213,330,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its holdings in Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after buying an additional 163 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Moelis & Company by 2.1% during the 4th quarter. Wesbanco Bank Inc. now owns 8,889 shares of the asset manager’s stock worth $611,000 after acquiring an additional 180 shares in the last quarter. GW Henssler & Associates Ltd. boosted its stake in shares of Moelis & Company by 5.6% during the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Moelis & Company by 1.2% in the 4th 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 grew its holdings in shares of Moelis & Company by 0.3% in 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 period. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. UBS Group dropped their price target on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, Morgan Stanley cut their price target on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.89.
Moelis & Company Stock Performance
MC stock opened at $64.79 on Friday. Moelis & Company has a 1 year low of $51.06 and a 1 year high of $78.22. The stock’s 50 day moving average price is $66.66 and its 200 day moving average price is $66.01. The firm has a market cap of $5.09 billion, a P/E ratio of 23.31, a PEG ratio of 0.78 and a beta of 1.85.
Moelis & Company (NYSE:MC – Get Free Report) last announced its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The company had revenue of $319.78 million for the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. Moelis & Company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. On average, research analysts predict that Moelis & Company will post 3.17 earnings per share for the current year.
Moelis & Company Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a dividend of $0.65 per share. The ex-dividend date was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. Moelis & Company’s payout ratio is 93.53%.
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. 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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