Moelis & Company (NYSE:MC) Sets New 1-Year High at $68.84

Moelis & Company (NYSE:MC) shares reached a new 52-week high during trading on Monday . The stock traded as high as $68.84 and last traded at $67.10, with a volume of 85798 shares trading hands. The stock had previously closed at $68.08.

Wall Street Analyst Weigh In

MC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday. UBS Group lifted their price target on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley boosted their target price on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.00.

Moelis & Company Trading Down 1.0 %

The firm has a 50-day moving average of $57.64 and a 200 day moving average of $55.40. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -358.32 and a beta of 1.35.

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 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%. Moelis & Company’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. As a group, research analysts forecast that Moelis & Company will post 1.03 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be given a dividend of $0.60 per share. 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 (DPR) is presently -1,263.16%.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the company’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 value of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the company’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 value of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.92, for a total value of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Moelis & Company

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Moelis & Company during the 4th quarter worth $41,720,000. Goldman Sachs Group Inc. grew its stake in Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after buying an additional 334,620 shares during the last quarter. Azora Capital LP bought a new position in Moelis & Company during the 4th quarter worth $10,601,000. Wasatch Advisors LP grew its stake in Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after buying an additional 159,797 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Moelis & Company by 22.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 752,615 shares of the asset manager’s stock worth $42,244,000 after buying an additional 136,235 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.