Envestnet Asset Management Inc. Grows Stock Holdings in Moelis & Company (NYSE:MC)

Envestnet Asset Management Inc. grew its holdings in Moelis & Company (NYSE:MC) by 1.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 357,789 shares of the asset manager’s stock after buying an additional 4,921 shares during the period. Envestnet Asset Management Inc. owned approximately 0.48% of Moelis & Company worth $20,881,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC boosted its stake in shares of Moelis & Company by 52.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Headlands Technologies LLC bought a new position in Moelis & Company in the fourth quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Moelis & Company by 1,551.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager’s stock worth $38,000 after purchasing an additional 605 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Moelis & Company by 1,460.8% during the first quarter. Versant Capital Management Inc now owns 796 shares of the asset manager’s stock valued at $46,000 after buying an additional 745 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Moelis & Company in the fourth quarter valued at approximately $61,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MC has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $42.00 to $68.00 in a report on Monday, June 23rd. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their price target on Moelis & Company from $69.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group lifted their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Finally, Wells Fargo & Company boosted their price target on Moelis & Company from $50.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average price target of $66.00.

Moelis & Company Stock Performance

NYSE:MC opened at $71.09 on Thursday. Moelis & Company has a one year low of $47.00 and a one year high of $82.89. The stock has a market cap of $5.58 billion, a PE ratio of 32.61 and a beta of 1.64. The stock has a 50 day moving average price of $60.72 and a 200 day moving average price of $63.72.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. The company had revenue of $306.59 million during the quarter, compared to analysts’ expectations of $309.67 million. During the same quarter last year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. As a group, analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, May 5th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 3.66%. Moelis & Company’s dividend payout ratio (DPR) is presently 119.27%.

Moelis & 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.