First Eagle Investment Management LLC Buys 19,300 Shares of Moelis & Company (NYSE:MC)

First Eagle Investment Management LLC lifted its stake in Moelis & Company (NYSE:MC) by 18.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,951 shares of the asset manager’s stock after buying an additional 19,300 shares during the quarter. First Eagle Investment Management LLC owned about 0.17% of Moelis & Company worth $7,105,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Moelis & Company by 9.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,418 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 472 shares during the period. Norges Bank bought a new stake in Moelis & Company during the fourth quarter valued at about $41,720,000. UBS Group AG lifted its position in shares of Moelis & Company by 17.9% in the fourth quarter. UBS Group AG now owns 143,711 shares of the asset manager’s stock valued at $8,066,000 after acquiring an additional 21,813 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Moelis & Company by 5.9% in the fourth quarter. D.A. Davidson & CO. now owns 7,056 shares of the asset manager’s stock worth $396,000 after acquiring an additional 390 shares during the period. Finally, Assetmark Inc. grew its position in shares of Moelis & Company by 22.5% during the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after purchasing an additional 276 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Stock Down 0.7 %

MC opened at $70.16 on Friday. The stock’s fifty day moving average is $65.13 and its two-hundred day moving average is $58.27. The company has a market capitalization of $5.25 billion, a P/E ratio of -369.26 and a beta of 1.33. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $70.82.

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

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, August 5th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.40 annualized dividend and a dividend yield of 3.42%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Transactions at Moelis & Company

In related news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total value of $430,272.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the completion of the transaction, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,526 shares of company stock valued at $830,133. Company insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

MC has been the topic of a number of research analyst reports. UBS Group boosted their price target on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Morgan Stanley boosted their target price on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average target price of $58.33.

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.