Southside Capital LLC bought a new position in Moelis & Co (NYSE:MC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 225,000 shares of the asset manager’s stock, valued at approximately $7,864,000. Moelis & Co makes up approximately 2.3% of Southside Capital LLC’s investment portfolio, making the stock its 21st largest position. Southside Capital LLC owned 0.38% of Moelis & Co at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Artemis Investment Management LLP grew its stake in Moelis & Co by 29.8% during the second quarter. Artemis Investment Management LLP now owns 601,106 shares of the asset manager’s stock valued at $20,966,000 after acquiring an additional 138,158 shares in the last quarter. WCM Investment Management LLC grew its stake in Moelis & Co by 26.6% during the second quarter. WCM Investment Management LLC now owns 35,758 shares of the asset manager’s stock valued at $1,250,000 after acquiring an additional 7,506 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Moelis & Co during the second quarter valued at approximately $276,000. Dupont Capital Management Corp purchased a new position in Moelis & Co during the first quarter valued at approximately $1,200,000. Finally, US Bancorp DE grew its stake in Moelis & Co by 8.5% in the 1st quarter. US Bancorp DE now owns 40,864 shares of the asset manager’s stock worth $1,700,000 after buying an additional 3,205 shares in the last quarter. Hedge funds and other institutional investors own 73.46% of the company’s stock.
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $39.00 price target (down previously from $42.00) on shares of Moelis & Co in a research note on Wednesday, July 31st. Buckingham Research cut their price target on shares of Moelis & Co from $53.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Morgan Stanley cut their price target on shares of Moelis & Co from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Monday, July 8th. Zacks Investment Research cut shares of Moelis & Co from a “hold” rating to a “sell” rating and set a $38.00 price target for the company. in a research note on Monday, August 5th. Finally, ValuEngine raised shares of Moelis & Co from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.50.
Moelis & Co (NYSE:MC) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.22. Moelis & Co had a net margin of 15.56% and a return on equity of 46.30%. The business had revenue of $153.50 million during the quarter, compared to analysts’ expectations of $153.84 million. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s quarterly revenue was down 30.4% compared to the same quarter last year. On average, equities analysts predict that Moelis & Co will post 2.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 9th will be issued a $0.50 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.15%. Moelis & Co’s payout ratio is 66.67%.
In other news, COO Elizabeth Crain sold 31,669 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.13, for a total value of $1,017,524.97. Following the completion of the sale, the chief operating officer now directly owns 38,638 shares in the company, valued at approximately $1,241,438.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 19.67% of the company’s stock.
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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