State of New Jersey Common Pension Fund D boosted its position in Moelis & Company (NYSE:MC – Get Rating) by 26.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,727 shares of the asset manager’s stock after buying an additional 10,982 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Moelis & Company were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the company. Alliancebernstein L.P. increased its position in Moelis & Company by 21.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,539,942 shares of the asset manager’s stock worth $158,772,000 after buying an additional 441,909 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Moelis & Company by 5.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,316,503 shares of the asset manager’s stock worth $82,295,000 after acquiring an additional 72,828 shares during the period. State Street Corp boosted its holdings in shares of Moelis & Company by 5.9% in the fourth quarter. State Street Corp now owns 1,310,407 shares of the asset manager’s stock worth $81,914,000 after acquiring an additional 73,419 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Moelis & Company by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 1,046,142 shares of the asset manager’s stock worth $65,394,000 after acquiring an additional 45,889 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Moelis & Company by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 953,514 shares of the asset manager’s stock worth $59,604,000 after acquiring an additional 7,794 shares during the period. 86.17% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Moelis & Company
In other Moelis & Company news, COO Elizabeth Crain sold 7,116 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $44.61, for a total transaction of $317,444.76. Following the transaction, the chief operating officer now directly owns 7,000 shares in the company, valued at $312,270. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.97% of the company’s stock.
Moelis & Company Trading Down 1.2 %
Moelis & Company (NYSE:MC – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The asset manager reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The company had revenue of $242.52 million during the quarter, compared to the consensus estimate of $199.79 million. Moelis & Company had a return on equity of 76.91% and a net margin of 22.19%. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. As a group, sell-side analysts forecast that Moelis & Company will post 2.83 EPS for the current fiscal year.
Moelis & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Monday, August 8th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Friday, August 5th. Moelis & Company’s payout ratio is currently 51.39%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. UBS Group raised their price target on Moelis & Company from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Piper Sandler cut their price target on Moelis & Company from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Morgan Stanley lowered Moelis & Company from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $53.00 to $36.00 in a report on Monday, July 18th. Wolfe Research lowered Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 price objective for the company. in a research note on Monday, July 11th. Finally, The Goldman Sachs Group decreased their target price on Moelis & Company from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.67.
Moelis & Company Profile
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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.
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