Los Angeles Capital Management LLC Buys Shares of 9,058 Moelis & Company (NYSE:MC)

Los Angeles Capital Management LLC purchased a new position in shares of Moelis & Company (NYSE:MC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,058 shares of the asset manager’s stock, valued at approximately $515,000.

Several other large investors have also recently made changes to their positions in MC. UMB Bank n.a. grew its stake in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after purchasing an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Moelis & Company by 510.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 699 shares in the last quarter. Assetmark Inc. grew its position in shares of Moelis & Company by 22.5% in the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 276 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of Moelis & Company by 100.0% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 1,500 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Stock Performance

NYSE:MC opened at $67.35 on Friday. The stock has a market capitalization of $5.04 billion, a P/E ratio of -354.47 and a beta of 1.33. The company has a 50 day moving average price of $63.91 and a 200 day moving average price of $57.62. Moelis & Company has a fifty-two week low of $38.58 and a fifty-two week high of $70.00.

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

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, August 5th. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insiders Place Their Bets

In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of the stock in a transaction dated 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. Insiders have sold 12,526 shares of company stock worth $830,133 over the last three months. Company insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

MC has been the subject of several analyst reports. UBS Group upped their target price on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Wells Fargo & Company began coverage on shares of Moelis & Company in a research report on Thursday. They set an “equal weight” rating and a $70.00 price objective for the company. Morgan Stanley increased their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Two research 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, the company currently has a consensus rating of “Hold” and a consensus price target 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.