JPMorgan Chase & Co. boosted its stake in shares of Moelis & Company (NYSE:MC) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,486,795 shares of the asset manager’s stock after purchasing an additional 19,377 shares during the quarter. JPMorgan Chase & Co. owned about 2.79% of Moelis & Company worth $64,378,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Moelis & Company in the second quarter valued at about $875,000. Principal Financial Group Inc. boosted its position in shares of Moelis & Company by 76.7% in the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock valued at $19,125,000 after acquiring an additional 213,740 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Moelis & Company by 79.0% in the second quarter. Goldman Sachs Group Inc. now owns 244,143 shares of the asset manager’s stock valued at $9,485,000 after acquiring an additional 107,719 shares during the period. Cavalier Investments LLC bought a new stake in shares of Moelis & Company in the third quarter valued at about $956,000. Finally, Wells Fargo & Company MN boosted its position in shares of Moelis & Company by 34.2% in the second quarter. Wells Fargo & Company MN now owns 78,204 shares of the asset manager’s stock valued at $3,038,000 after acquiring an additional 19,934 shares during the period. 56.81% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Moelis & Company from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, November 29th. UBS boosted their target price on shares of Moelis & Company from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. JMP Securities boosted their target price on shares of Moelis & Company from $44.00 to $47.00 and gave the company a “market outperform” rating in a research report on Thursday, October 26th. Finally, Morgan Stanley boosted their target price on shares of Moelis & Company from $45.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Moelis & Company currently has an average rating of “Buy” and a consensus price target of $45.00.
Moelis & Company (NYSE:MC) traded down $1.10 during mid-day trading on Thursday, reaching $46.85. The company had a trading volume of 302,800 shares, compared to its average volume of 340,829. The firm has a market capitalization of $2,555.35, a P/E ratio of 19.73, a PEG ratio of 2.00 and a beta of 1.92. Moelis & Company has a fifty-two week low of $29.10 and a fifty-two week high of $48.85.
Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The business had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & Company had a return on equity of 52.76% and a net margin of 9.62%. Moelis & Company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. analysts predict that Moelis & Company will post 2.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Friday, November 3rd. Moelis & Company’s dividend payout ratio (DPR) is presently 70.81%.
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About Moelis & Company
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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