Freemont Management S.A. Makes New $3.61 Million Investment in Moelis & Company $MC

Freemont Management S.A. purchased a new position in shares of Moelis & Company (NYSE:MC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 63,400 shares of the asset manager’s stock, valued at approximately $3,614,000.

Several other institutional investors also recently bought and sold shares of the business. Wasatch Advisors LP increased its position in shares of Moelis & Company by 9.0% in the first quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock valued at $213,330,000 after buying an additional 310,001 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Moelis & Company by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock valued at $219,588,000 after buying an additional 66,697 shares in the last quarter. State Street Corp grew its stake in Moelis & Company by 3.2% in the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock valued at $178,381,000 after acquiring an additional 89,143 shares during the period. Ameriprise Financial Inc. grew its stake in Moelis & Company by 6.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock valued at $149,333,000 after acquiring an additional 135,885 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Moelis & Company by 5.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock valued at $128,989,000 after acquiring an additional 89,365 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Price Performance

Shares of NYSE:MC opened at $67.45 on Friday. The business’s 50 day moving average price is $66.68 and its 200-day moving average price is $65.69. The firm has a market capitalization of $5.30 billion, a PE ratio of 24.26, a P/E/G ratio of 0.86 and a beta of 1.85. Moelis & Company has a 1 year low of $51.06 and a 1 year high of $78.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data 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 firm 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 firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. As a group, analysts expect that Moelis & Company will post 3.14 earnings per share for the current year.

Moelis & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on MC. The Goldman Sachs Group reduced their price objective on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley dropped their target price on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. UBS Group restated a “sell” rating and set a $60.00 price target (up from $58.00) on shares of Moelis & Company in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $73.38.

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.