Naples Global Advisors LLC grew its holdings in Moelis & Co (NYSE:MC) by 28.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,940 shares of the asset manager’s stock after buying an additional 3,550 shares during the period. Naples Global Advisors LLC’s holdings in Moelis & Co were worth $663,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Synovus Financial Corp raised its holdings in Moelis & Co by 2.4% during the fourth quarter. Synovus Financial Corp now owns 11,997 shares of the asset manager’s stock worth $410,000 after purchasing an additional 283 shares in the last quarter. Campbell Newman Asset Management Inc. grew its position in Moelis & Co by 3.2% during the first quarter. Campbell Newman Asset Management Inc. now owns 9,656 shares of the asset manager’s stock worth $402,000 after buying an additional 297 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Moelis & Co by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,914 shares of the asset manager’s stock worth $306,000 after buying an additional 506 shares during the period. Sageworth Trust Co acquired a new position in Moelis & Co during the first quarter worth about $28,000. Finally, Chartwell Investment Partners LLC grew its position in Moelis & Co by 1.4% during the first quarter. Chartwell Investment Partners LLC now owns 61,219 shares of the asset manager’s stock worth $2,547,000 after buying an additional 829 shares during the period. 75.72% of the stock is owned by institutional investors and hedge funds.
MC has been the topic of several recent analyst reports. Bank of America lowered shares of Moelis & Co from a “buy” rating to an “underperform” rating in a research report on Thursday, April 11th. JMP Securities lowered their price target on shares of Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, April 8th. ValuEngine lowered shares of Moelis & Co from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of Moelis & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Moelis & Co has a consensus rating of “Hold” and a consensus price target of $53.89.
In other news, CEO Kenneth Moelis sold 84,708 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $3,176,550.00. Following the transaction, the chief executive officer now owns 171,426 shares of the company’s stock, valued at approximately $6,428,475. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Elizabeth Crain sold 16,971 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $636,412.50. Following the completion of the transaction, the chief operating officer now directly owns 33,943 shares in the company, valued at approximately $1,272,862.50. The disclosure for this sale can be found here. In the last three months, insiders sold 195,512 shares of company stock worth $7,333,450. Insiders own 29.91% of the company’s stock.
NYSE:MC traded down $0.30 during trading hours on Wednesday, reaching $33.69. 398,169 shares of the company were exchanged, compared to its average volume of 573,357. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.03 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.21 and a beta of 1.95. Moelis & Co has a 52-week low of $32.04 and a 52-week high of $67.65.
Moelis & Co (NYSE:MC) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The company had revenue of $137.78 million for the quarter, compared to the consensus estimate of $141.54 million. Moelis & Co had a net margin of 15.04% and a return on equity of 49.19%. Moelis & Co’s revenue was down 37.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Research analysts forecast that Moelis & Co will post 2.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, May 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Thursday, May 9th. Moelis & Co’s dividend payout ratio is presently 66.67%.
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Moelis & Co Company Profile
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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