Kestra Private Wealth Services LLC Buys New Position in Moelis & Company $MC

Kestra Private Wealth Services LLC purchased a new stake in Moelis & Company (NYSE:MC) in the first quarter, HoldingsChannel.com reports. The firm purchased 8,503 shares of the asset manager’s stock, valued at approximately $485,000.

Other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in shares of Moelis & Company during the fourth quarter worth about $60,857,000. Norges Bank purchased a new position in shares of Moelis & Company in the 4th quarter valued at approximately $42,919,000. The Manufacturers Life Insurance Company raised its position 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 valued at $41,231,000 after purchasing an additional 609,162 shares during the last quarter. Wasatch Advisors LP boosted its stake in Moelis & Company by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after purchasing an additional 458,575 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Moelis & Company in the 4th quarter worth approximately $23,768,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Down 0.2%

Moelis & Company stock opened at $68.43 on Friday. The stock has a 50-day moving average price of $66.51 and a 200 day moving average price of $65.89. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 0.82 and a beta of 1.85. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results 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 business had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. During the same quarter last year, the company posted $0.64 EPS. Moelis & Company’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 11th. Moelis & Company’s dividend payout ratio is 93.53%.

Analyst Ratings Changes

MC has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods dropped 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 report on Wednesday, April 8th. Zacks Research lowered shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Finally, UBS Group cut their target price on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $71.89.

Moelis & Company 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.