OmniStar Financial Group Inc. Acquires Shares of 12,652 Moelis & Company (NYSE:MC)

OmniStar Financial Group Inc. bought a new position in shares of Moelis & Company (NYSE:MC) in the third quarter, HoldingsChannel reports. The institutional investor bought 12,652 shares of the asset manager’s stock, valued at approximately $869,000.

Several other large investors have also made changes to their positions in MC. Kayne Anderson Rudnick Investment Management LLC increased its position in Moelis & Company by 0.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock worth $408,836,000 after purchasing an additional 47,365 shares during the period. Wasatch Advisors LP boosted its stake in shares of Moelis & Company by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of 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 worth $63,483,000 after buying an additional 55,402 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Moelis & Company by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock worth $42,960,000 after buying an additional 29,532 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in shares of Moelis & Company by 179.2% during the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after buying an additional 454,478 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MC shares. Wells Fargo & Company began coverage on Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. increased their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average price target of $61.00.

Moelis & Company Price Performance

MC stock traded down $0.01 during trading hours on Friday, reaching $71.89. 112,679 shares of the stock were exchanged, compared to its average volume of 624,540. The company has a market cap of $5.38 billion, a price-to-earnings ratio of -378.42 and a beta of 1.33. The firm’s 50-day moving average is $66.76 and its 200-day moving average is $60.16. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $72.80.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts forecast that Moelis & Company will post 1.08 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.34%. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,526 shares of company stock worth $830,133 in the last three months. Insiders own 6.40% of the company’s stock.

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.