Mirae Asset Global Investments Co. Ltd. Grows Holdings in Moelis & Company (NYSE:MC)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Moelis & Company (NYSE:MC) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,563 shares of the asset manager’s stock after buying an additional 1,079 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Moelis & Company were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. acquired a new position in Moelis & Company during the 2nd quarter worth $26,000. Mendota Financial Group LLC acquired a new position in Moelis & Company during the 4th quarter worth $34,000. Tower Research Capital LLC TRC grew its holdings in Moelis & Company by 380.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the asset manager’s stock worth $53,000 after acquiring an additional 1,091 shares in the last quarter. Covestor Ltd grew its holdings in Moelis & Company by 230.3% during the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $72,000 after acquiring an additional 1,073 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Moelis & Company during the 3rd quarter worth $99,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Up 1.3 %

Moelis & Company stock opened at $51.65 on Friday. The firm has a 50-day moving average price of $54.35 and a two-hundred day moving average price of $51.25. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -143.47 and a beta of 1.35. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $214.90 million during the quarter, compared to analyst estimates of $197.98 million. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. Moelis & Company’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. Research analysts expect that Moelis & Company will post 1.5 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Friday, February 16th. Moelis & Company’s payout ratio is -666.67%.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 20,001 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the sale, the insider now directly owns 79,859 shares in the company, valued at approximately $4,457,729.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 20,001 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the sale, the insider now directly owns 79,859 shares in the company, valued at approximately $4,457,729.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Moelis sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the sale, the chief executive officer now owns 86,441 shares in the company, valued at $4,677,322.51. The disclosure for this sale can be found here. Insiders sold 375,185 shares of company stock valued at $20,130,225 in the last ninety days. Company insiders own 6.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MC. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $56.00 price target on shares of Moelis & Company in a report on Monday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. 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 a consensus price target of $50.80.

Moelis & Company 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, as well as strategic, capital structure, and private funds advisory.