Moelis & Company (NYSE:MC) Sets New 1-Year High at $71.30

Moelis & Company (NYSE:MC) reached a new 52-week high on Monday . The company traded as high as $71.30 and last traded at $71.30, with a volume of 4783 shares. The stock had previously closed at $70.17.

Analyst Ratings Changes

MC has been the topic of several recent analyst reports. Morgan Stanley increased 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. UBS Group increased their target price 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 reiterated a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price objective on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and an average target price of $58.33.

Moelis & Company Stock Up 1.2 %

The company has a market cap of $5.31 billion, a P/E ratio of -369.32 and a beta of 1.33. The firm has a fifty day moving average price of $65.13 and a 200 day moving average price of $58.36.

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, topping analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The company’s revenue was up 47.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. On average, sell-side analysts anticipate that Moelis & Company will post 1.09 earnings per share for the current 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 of this dividend is Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.38%. Moelis & Company’s payout ratio is presently -1,263.16%.

Insider Buying and Selling

In other news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 86 shares in the company, valued at approximately $5,922.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company 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 sale, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,526 shares of company stock worth $830,133. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Moelis & Company

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its stake in shares of Moelis & Company by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 950 shares during the period. Blue Zone Wealth Advisors LLC bought a new position in Moelis & Company during the 1st quarter worth approximately $3,213,000. Evoke Wealth LLC bought a new position in shares of Moelis & Company during the fourth quarter valued at about $3,079,000. UniSuper Management Pty Ltd purchased a new stake in Moelis & Company in the first quarter worth $801,000. Finally, Lord Abbett & CO. LLC boosted its position in Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after acquiring an additional 55,402 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.