Moelis & Company (NYSE:MC) Shares Acquired by Naples Global Advisors LLC

Naples Global Advisors LLC grew its stake in Moelis & Company (NYSE:MC) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 10,171 shares of the asset manager’s stock after purchasing an additional 325 shares during the period. Naples Global Advisors LLC’s holdings in Moelis & Company were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Gabelli Funds LLC raised its holdings in Moelis & Company by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock valued at $1,490,000 after buying an additional 950 shares during the period. Blue Zone Wealth Advisors LLC purchased a new stake in shares of Moelis & Company in the 1st quarter valued at about $3,213,000. Evoke Wealth LLC purchased a new position in Moelis & Company during the 4th quarter worth $3,079,000. Natixis Advisors L.P. lifted its position in Moelis & Company by 19.0% during the 4th quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock worth $8,219,000 after acquiring an additional 23,426 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in Moelis & Company in the 1st quarter valued at $801,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Buying and Selling at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares of the company’s stock, valued at $5,922.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the firm’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 sale, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,526 shares of company stock valued at $830,133. Company insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MC shares. UBS Group raised their price target on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Morgan Stanley upped their target price on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average price target of $56.00.

Moelis & Company Stock Up 1.1 %

Shares of MC stock traded up $0.71 during mid-day trading on Friday, hitting $64.86. 379,929 shares of the company’s stock were exchanged, compared to its average volume of 616,061. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -341.58 and a beta of 1.34. Moelis & Company has a fifty-two week low of $38.58 and a fifty-two week high of $70.00. The stock has a 50-day simple moving average of $59.66 and a two-hundred day simple moving average of $56.29.

Moelis & Company (NYSE:MC) last posted its quarterly 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. The company had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. As a group, analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is currently -1,263.16%.

About Moelis & Company

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.