GAMMA Investing LLC Acquires New Stake in Moelis & Company (NYSE:MC)

GAMMA Investing LLC acquired a new stake in shares of Moelis & Company (NYSE:MC) during the fourth quarter, Holdings Channel reports. The firm acquired 619 shares of the asset manager’s stock, valued at approximately $34,000.

A number of other hedge funds have also made changes to their positions in the stock. Mendota Financial Group LLC acquired a new position in Moelis & Company in the 4th quarter worth approximately $34,000. Neo Ivy Capital Management acquired a new stake in shares of Moelis & Company during the 3rd quarter valued at $99,000. Strs Ohio boosted its stake in shares of Moelis & Company by 28.6% during the 3rd quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock valued at $162,000 after buying an additional 800 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Moelis & Company during the 3rd quarter valued at $174,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Moelis & Company by 890.4% during the 4th quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock valued at $180,000 after buying an additional 2,876 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Buying and Selling

In related news, CFO Joseph Simon sold 8,149 shares of Moelis & Company stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $428,637.40. Following the transaction, the chief financial officer now owns 8,573 shares in the company, valued at approximately $450,939.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were 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 owns 161,810 shares in the company, valued at approximately $8,511,206. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Simon sold 8,149 shares of the business’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 $428,637.40. Following the transaction, the chief financial officer now owns 8,573 shares in the company, valued at approximately $450,939.80. The disclosure for this sale can be found here. Insiders have sold 375,185 shares of company stock worth $20,130,225 in the last quarter. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Price Performance

Shares of MC opened at $51.58 on Monday. The company has a market capitalization of $3.67 billion, a PE ratio of -271.47 and a beta of 1.39. Moelis & Company has a one year low of $33.87 and a one year high of $58.67. The company’s fifty day moving average price is $53.62 and its 200 day moving average price is $51.88.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $217.49 million for the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Analysts anticipate that Moelis & Company will post 1.3 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, May 6th will be issued a $0.60 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.40 annualized dividend and a yield of 4.65%. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Analyst Ratings Changes

A number of brokerages have issued reports on MC. JPMorgan Chase & Co. lifted their target price on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. Finally, StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.80.

About Moelis & Company

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.