Moelis & Company $MC Shares Purchased by Heard Capital LLC

Heard Capital LLC increased its position in shares of Moelis & Company (NYSE:MC) by 29.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 981,510 shares of the asset manager’s stock after purchasing an additional 224,970 shares during the quarter. Moelis & Company accounts for 3.2% of Heard Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Heard Capital LLC owned approximately 1.25% of Moelis & Company worth $67,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MC. Norges Bank acquired a new position in Moelis & Company during the fourth quarter worth $42,919,000. The Manufacturers Life Insurance Company raised its holdings in shares of Moelis & Company by 1,161.8% in the second quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after acquiring an additional 609,162 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Moelis & Company by 16.1% in the third quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after acquiring an additional 458,575 shares during the last quarter. Channing Capital Management LLC acquired a new position in shares of Moelis & Company in the fourth quarter worth $16,053,000. Finally, UBS Group AG raised its holdings in shares of Moelis & Company by 50.0% in the third quarter. UBS Group AG now owns 681,668 shares of the asset manager’s stock worth $48,617,000 after acquiring an additional 227,232 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MC has been the subject of a number of analyst reports. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Zacks Research cut Moelis & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. UBS Group cut their price target on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Keefe, Bruyette & Woods cut their price target on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating for the company in a report on Wednesday, April 8th. Finally, Morgan Stanley cut their price target on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average target price of $71.89.

Moelis & Company Trading Up 0.8%

Moelis & Company stock opened at $69.61 on Wednesday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 25.04, a PEG ratio of 0.83 and a beta of 1.85. The stock has a fifty day moving average price of $66.03 and a 200 day moving average price of $65.95. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. As a group, equities analysts predict that Moelis & Company will post 3.17 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, May 11th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, May 11th. Moelis & Company’s dividend payout ratio is presently 93.53%.

About Moelis & Company

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.