Moelis & Company to Post Q3 2024 Earnings of $0.25 Per Share, Seaport Res Ptn Forecasts (NYSE:MC)

Moelis & Company (NYSE:MC) – Research analysts at Seaport Res Ptn cut their Q3 2024 earnings per share estimates for Moelis & Company in a research report issued to clients and investors on Friday, April 26th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.29. The consensus estimate for Moelis & Company’s current full-year earnings is $1.29 per share.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.13%. Moelis & Company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share.

Other analysts have also recently issued reports about the stock. UBS Group upped their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a report on Thursday. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Finally, StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have issued 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 Stock Performance

Shares of MC opened at $49.75 on Monday. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67. The company’s fifty day moving average is $54.07 and its 200 day moving average is $51.64. The stock has a market capitalization of $3.54 billion, a PE ratio of -261.84 and a beta of 1.35.

Hedge Funds Weigh In On Moelis & Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Moelis & Company during the 4th quarter worth approximately $41,720,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Moelis & Company during the third quarter worth $16,924,000. Goldman Sachs Group Inc. lifted its position in Moelis & Company by 11.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after purchasing an additional 334,620 shares during the period. Northern Trust Corp boosted its holdings in Moelis & Company by 32.7% in the third quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock valued at $41,867,000 after purchasing an additional 228,840 shares during the last quarter. Finally, Azora Capital LP purchased a new stake in Moelis & Company in the fourth quarter valued at $10,601,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In related news, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at approximately $8,511,206. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 50,772 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $2,747,272.92. Following the completion of the transaction, the insider now owns 64,463 shares of the company’s stock, valued at $3,488,092.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kenneth Moelis sold 128,277 shares of Moelis & Company stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the sale, the chief executive officer now owns 161,810 shares of the company’s stock, valued at $8,511,206. 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 quarter. 6.96% of the stock is currently owned by corporate insiders.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 6th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, May 3rd. Moelis & Company’s payout ratio is presently -1,263.16%.

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.