Bank of New York Mellon Corp Grows Stock Holdings in Moelis & Company (NYSE:MC)

Bank of New York Mellon Corp boosted its stake in Moelis & Company (NYSE:MC) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 755,541 shares of the asset manager’s stock after acquiring an additional 29,532 shares during the period. Bank of New York Mellon Corp’s holdings in Moelis & Company were worth $42,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MC. GAMMA Investing LLC purchased a new position in shares of Moelis & Company in the 4th quarter valued at approximately $34,000. Natixis Advisors L.P. lifted its holdings in shares of Moelis & Company by 19.0% during the fourth quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock worth $8,219,000 after purchasing an additional 23,426 shares during the period. M&T Bank Corp grew its position in Moelis & Company by 447.3% in the 4th quarter. M&T Bank Corp now owns 26,813 shares of the asset manager’s stock valued at $1,505,000 after buying an additional 21,914 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in Moelis & Company in the 4th quarter valued at $558,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Moelis & Company by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 814,568 shares of the asset manager’s stock valued at $45,722,000 after buying an additional 21,839 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Stock Up 0.2 %

Shares of NYSE MC opened at $66.79 on Monday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -351.53 and a beta of 1.34. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $70.00. The firm has a 50-day moving average price of $62.33 and a 200 day moving average price of $57.08.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. Equities research analysts expect that Moelis & Company will post 1.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.59%. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group raised their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their target price on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.00.

Insiders Place Their Bets

In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at approximately $5,922.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now directly owns 86 shares of the company’s stock, valued at approximately $5,922.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is owned by corporate insiders.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.