Alps Advisors Inc. cut its position in Moelis & Co (NYSE:MC) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,710 shares of the asset manager’s stock after selling 460 shares during the quarter. Alps Advisors Inc.’s holdings in Moelis & Co were worth $304,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new position in Moelis & Co during the 2nd quarter worth approximately $66,000. Hilton Capital Management LLC acquired a new position in Moelis & Co in the 1st quarter valued at approximately $101,000. GYL Financial Synergies LLC acquired a new position in Moelis & Co in the 1st quarter valued at approximately $204,000. Cetera Advisors LLC acquired a new position in Moelis & Co in the 1st quarter valued at approximately $212,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Moelis & Co in the 1st quarter valued at approximately $221,000. Institutional investors own 74.90% of the company’s stock.
Shares of NYSE:MC opened at $34.79 on Friday. Moelis & Co has a twelve month low of $31.40 and a twelve month high of $57.70. The firm has a market capitalization of $2.05 billion, a PE ratio of 11.60 and a beta of 2.00. The company has a quick ratio of 7.18, a current ratio of 7.18 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $33.66 and a two-hundred day moving average price of $36.65.
Moelis & Co (NYSE:MC) last announced its earnings results on Tuesday, July 30th. The asset manager reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.22. The business had revenue of $153.50 million during the quarter, compared to analyst estimates of $153.84 million. Moelis & Co had a net margin of 15.56% and a return on equity of 46.30%. Moelis & Co’s revenue for the quarter was down 30.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts anticipate that Moelis & Co will post 2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 9th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Thursday, August 8th. Moelis & Co’s payout ratio is 66.67%.
In related news, CFO Joseph Simon sold 17,528 shares of Moelis & Co stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $33.64, for a total value of $589,641.92. Following the transaction, the chief financial officer now directly owns 43,374 shares of the company’s stock, valued at $1,459,101.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.67% of the stock is owned by insiders.
Several brokerages recently issued reports on MC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $39.00 target price (down from $42.00) on shares of Moelis & Co in a research note on Wednesday, July 31st. Buckingham Research dropped their price objective on shares of Moelis & Co from $53.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley dropped their price objective on shares of Moelis & Co from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, July 8th. ValuEngine upgraded shares of Moelis & Co from a “strong sell” rating to a “sell” rating in a report on Thursday, July 11th. Finally, Zacks Investment Research downgraded shares of Moelis & Co from a “hold” rating to a “sell” rating and set a $38.00 target price for the company. in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Moelis & Co currently has an average rating of “Hold” and an average price target of $45.50.
Moelis & Co 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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