Heritage Family Offices LLP Takes Position in Moelis & Company (NYSE:MC)

Heritage Family Offices LLP bought a new stake in shares of Moelis & Company (NYSE:MC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,270 shares of the asset manager’s stock, valued at approximately $243,000.

Several other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in shares of Moelis & Company in the fourth quarter valued at $34,000. Heritage Wealth Management LLC purchased a new stake in shares of Moelis & Company in the fourth quarter valued at $276,000. Natixis Advisors L.P. raised its stake in shares of Moelis & Company by 19.0% in the fourth quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock valued at $8,219,000 after acquiring an additional 23,426 shares during the period. M&T Bank Corp raised its stake in shares of Moelis & Company by 447.3% in the fourth quarter. M&T Bank Corp now owns 26,813 shares of the asset manager’s stock valued at $1,505,000 after acquiring an additional 21,914 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its stake in shares of Moelis & Company by 5.9% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 54,196 shares of the asset manager’s stock valued at $3,042,000 after acquiring an additional 3,009 shares during the period. Institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MC. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Morgan Stanley raised their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, UBS Group raised their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $56.00.

Moelis & Company Price Performance

Shares of Moelis & Company stock opened at $66.79 on Friday. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $70.00. The firm’s 50-day moving average is $62.33 and its two-hundred day moving average is $57.03. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -351.53 and a beta of 1.34.

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 the consensus estimate of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. 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 business earned ($0.04) EPS. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities analysts expect that Moelis & Company will post 1.08 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, August 5th. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Activity

In other news, Director Kenneth Shropshire sold 495 shares of the firm’s 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 sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kenneth Shropshire sold 495 shares of the firm’s 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 sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,526 shares of company stock worth $830,133. Corporate insiders own 6.40% of the company’s stock.

Moelis & 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.