Los Angeles Capital Management & Equity Research Inc. boosted its position in Moelis & Co (NYSE:MC) by 142.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,956 shares of the asset manager’s stock after purchasing an additional 59,250 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Moelis & Co were worth $4,201,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MC. Sageworth Trust Co acquired a new stake in Moelis & Co during the 1st quarter valued at $28,000. Pearl River Capital LLC acquired a new stake in Moelis & Co during the 4th quarter valued at $72,000. NumerixS Investment Technologies Inc acquired a new stake in Moelis & Co during the 4th quarter valued at $113,000. Palo Capital Inc. acquired a new stake in Moelis & Co during the 3rd quarter valued at $123,000. Finally, Quantamental Technologies LLC acquired a new stake in Moelis & Co during the 4th quarter valued at $134,000. 75.71% of the stock is owned by hedge funds and other institutional investors.
MC stock opened at $37.64 on Friday. Moelis & Co has a 52-week low of $32.66 and a 52-week high of $67.65. The firm has a market cap of $2.15 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 1.47 and a beta of 1.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is 66.67%.
A number of brokerages have commented on MC. Zacks Investment Research cut Moelis & Co from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Bank of America cut Moelis & Co from a “buy” rating to an “underperform” rating in a report on Thursday, April 11th. JMP Securities lowered their target price on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, April 8th. ValuEngine cut Moelis & Co from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Morgan Stanley lowered their target price on Moelis & Co from $59.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 8th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Moelis & Co currently has a consensus rating of “Hold” and an average price target of $53.89.
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Moelis & Co Company Profile
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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