Moelis & Company $MC Shares Purchased by Heard Capital LLC

Heard Capital LLC boosted its holdings in Moelis & Company (NYSE:MC) by 29.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 981,510 shares of the asset manager’s stock after buying an additional 224,970 shares during the quarter. Moelis & Company comprises approximately 3.2% of Heard Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Heard Capital LLC’s holdings in Moelis & Company were worth $67,469,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MC. V Square Quantitative Management LLC acquired a new position in Moelis & Company in the fourth quarter valued at $27,000. Hantz Financial Services Inc. increased its stake in Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP grew its position in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 254 shares during the period. eCIO Inc. purchased a new stake in Moelis & Company during the fourth quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC grew its position in Moelis & Company by 89.5% during the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 282 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Up 0.8%

MC stock opened at $69.61 on Wednesday. The stock has a 50-day moving average price of $66.03 and a two-hundred day moving average price of $65.95. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The company has a market cap of $5.47 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.85.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The firm had revenue of $319.78 million for the quarter, compared to analysts’ expectations of $321.51 million. During the same period last year, the firm posted $0.64 EPS. Moelis & Company’s revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on MC. Keefe, Bruyette & Woods lowered their price target on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley lowered their price target on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen downgraded Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group lowered their price target on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Finally, Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.