Moelis & Company $MC Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its stake in Moelis & Company (NYSE:MC) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,700 shares of the asset manager’s stock after purchasing an additional 800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Moelis & Company were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. eCIO Inc. acquired a new stake in Moelis & Company in the 1st quarter worth approximately $50,000. GAMMA Investing LLC boosted its stake in Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after purchasing an additional 457 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Moelis & Company in the 1st quarter worth approximately $107,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Moelis & Company in the 1st quarter worth approximately $124,000. Finally, Petrus Trust Company LTA acquired a new stake in Moelis & Company in the 1st quarter worth approximately $221,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Price Performance

NYSE:MC opened at $68.64 on Thursday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 27.02 and a beta of 1.77. The company has a 50 day moving average price of $71.50 and a 200-day moving average price of $63.78. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89.

Moelis & Company (NYSE:MC) last posted its earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. The firm had revenue of $365.38 million during the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The business’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Monday, August 4th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, August 4th. Moelis & Company’s payout ratio is 102.36%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Morgan Stanley raised their price target on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Moelis & Company in a research note on Thursday, October 9th. They set a “buy” rating and a $80.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective for the company. Three analysts have rated the stock with a Buy rating and seven have assigned 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 $71.86.

Insider Activity at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of Moelis & Company stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel directly owned 131 shares of the company’s stock, valued at $9,515.84. The trade was a 97.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the transaction, the director directly owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Moelis & Company 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.