Moelis & Company $MC Shares Bought by Madison Asset Management LLC

Madison Asset Management LLC grew its position in Moelis & Company (NYSE:MC) by 45.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,773,735 shares of the asset manager’s stock after buying an additional 555,557 shares during the period. Moelis & Company accounts for approximately 1.3% of Madison Asset Management LLC’s investment portfolio, making the stock its 19th largest position. Madison Asset Management LLC’s holdings in Moelis & Company were worth $101,103,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in shares of Moelis & Company by 9.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager’s stock worth $280,000 after purchasing an additional 432 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Moelis & Company by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager’s stock worth $2,456,000 after buying an additional 1,839 shares during the period. United Services Automobile Association acquired a new stake in shares of Moelis & Company during the first quarter valued at about $264,000. Empowered Funds LLC raised its stake in shares of Moelis & Company by 37.6% in the 1st quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager’s stock valued at $2,499,000 after acquiring an additional 11,692 shares during the period. Finally, Creative Planning raised its stake in shares of Moelis & Company by 14.2% in the 2nd quarter. Creative Planning now owns 6,639 shares of the asset manager’s stock valued at $414,000 after acquiring an additional 827 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MC. Morgan Stanley lowered their price objective on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. The Goldman Sachs Group cut their target price on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Keefe, Bruyette & Woods lowered their price target on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, July 10th. Finally, Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.38.

Moelis & Company Stock Down 0.6%

Shares of NYSE:MC opened at $67.10 on Tuesday. The firm’s 50 day moving average price is $66.75 and its 200 day moving average price is $65.63. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $319.78 million for the quarter, compared to analysts’ expectations of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.Moelis & Company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities analysts anticipate that Moelis & Company will post 3.14 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a $0.65 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. Moelis & Company’s dividend payout ratio (DPR) is currently 93.53%.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.