Moelis & Company $MC Position Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in Moelis & Company (NYSE:MC) by 541.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,726 shares of the asset manager’s stock after purchasing an additional 16,651 shares during the quarter. Hsbc Holdings PLC’s holdings in Moelis & Company were worth $1,364,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Balyasny Asset Management L.P. acquired a new stake in Moelis & Company in the fourth quarter worth approximately $60,857,000. Norges Bank bought a new stake in shares of Moelis & Company in the 4th quarter worth $42,919,000. The Manufacturers Life Insurance Company raised its stake in shares of Moelis & Company by 1,161.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after buying an additional 609,162 shares in the last quarter. Wasatch Advisors LP lifted 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 valued at $235,654,000 after buying an additional 458,575 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Moelis & Company in the fourth quarter valued at $23,768,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of NYSE:MC opened at $66.55 on Thursday. The firm has a 50 day simple moving average of $66.49 and a 200 day simple moving average of $65.89. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22. The company has a market cap of $5.23 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 0.78 and a beta of 1.85.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The firm had revenue of $319.78 million for the quarter, compared to analysts’ expectations of $321.51 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts predict that Moelis & Company will post 3.17 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 issued a $0.65 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.9%. Moelis & Company’s dividend payout ratio is currently 93.53%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group cut their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. UBS Group reduced their price objective on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average target price of $71.89.

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.