Wasatch Advisors LP Has $194.02 Million Stock Position in Moelis & Company (NYSE:MC)

Wasatch Advisors LP lifted its holdings in Moelis & Company (NYSE:MC) by 4.9% during the 1st quarter, HoldingsChannel reports. The fund owned 3,417,643 shares of the asset manager’s stock after acquiring an additional 159,797 shares during the quarter. Wasatch Advisors LP’s holdings in Moelis & Company were worth $194,020,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MC. Mendota Financial Group LLC bought a new stake in shares of Moelis & Company during the 4th quarter valued at $34,000. GAMMA Investing LLC bought a new stake in Moelis & Company during the fourth quarter worth about $34,000. Hexagon Capital Partners LLC grew its stake in Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after buying an additional 392 shares in the last quarter. Assetmark Inc. grew its stake in 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 buying an additional 276 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in Moelis & Company in the 3rd quarter valued at about $99,000. 91.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth Moelis sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC traded up $0.09 during trading hours on Tuesday, reaching $57.23. The stock had a trading volume of 295,863 shares, compared to its average volume of 607,101. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $58.67. The stock has a market capitalization of $4.28 billion, a PE ratio of -301.21 and a beta of 1.35. The company’s 50-day moving average is $54.25 and its two-hundred day moving average is $54.59.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Equities analysts anticipate that Moelis & Company will post 1.29 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, May 6th were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.40 annualized dividend and a yield of 4.19%. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Wall Street Analyst Weigh In

MC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price target (down previously from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. UBS Group upped their target price on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Company Profile

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.