Vanguard Group Inc. grew its holdings in Moelis & Company (NYSE:MC) by 6.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,039,429 shares of the asset manager’s stock after purchasing an additional 119,368 shares during the period. Vanguard Group Inc. owned approximately 7.41% of Moelis & worth $79,233,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of MC. AGF Investments Inc. purchased a new stake in shares of Moelis & during the second quarter worth $21,907,000. Renaissance Technologies LLC grew its stake in shares of Moelis & by 98.2% during the first quarter. Renaissance Technologies LLC now owns 443,860 shares of the asset manager’s stock valued at $17,089,000 after buying an additional 219,860 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Moelis & by 76.7% during the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock valued at $19,125,000 after buying an additional 213,740 shares during the last quarter. Winslow Asset Management Inc. bought a new stake in shares of Moelis & in the second quarter worth about $7,795,000. Finally, State Street Corp lifted its holdings in Moelis & by 50.5% in the first quarter. State Street Corp now owns 490,147 shares of the asset manager’s stock worth $18,870,000 after buying an additional 164,545 shares during the period. Institutional investors and hedge funds own 90.80% of the company’s stock.
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A number of equities research analysts have commented on the stock. JMP Securities lifted their target price on shares of Moelis & from $42.00 to $44.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 25th. Morgan Stanley raised their price target on shares of Moelis & from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. BidaskClub lowered shares of Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Moelis & from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, October 31st. Finally, Bank of America Corporation lifted their target price on shares of Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $42.00.
Shares of Moelis & Company (NYSE MC) traded up $0.85 during trading on Tuesday, reaching $44.35. 340,000 shares of the company’s stock traded hands, compared to its average volume of 341,432. Moelis & Company has a 12-month low of $28.00 and a 12-month high of $45.50. The company has a market capitalization of $2,360.00, a PE ratio of 17.90, a PEG ratio of 1.82 and a beta of 1.87.
Moelis & (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & had a return on equity of 52.76% and a net margin of 9.62%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. equities analysts anticipate that Moelis & Company will post 2.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Moelis &’s payout ratio is 70.81%.
In other news, CEO Kenneth Moelis sold 9,500 shares of Moelis & stock in a transaction on Friday, October 27th. The stock was sold at an average price of $42.41, for a total value of $402,895.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 80,956 shares of company stock worth $3,451,515. Corporate insiders own 52.64% of the company’s stock.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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