Strs Ohio Has $1.33 Million Stock Position in Moelis & Company $MC
by Renee Jackson · The Cerbat GemStrs Ohio boosted its stake in shares of Moelis & Company (NYSE:MC – Free Report) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,300 shares of the asset manager’s stock after purchasing an additional 900 shares during the period. Strs Ohio’s holdings in Moelis & Company were worth $1,327,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. Amalgamated Bank grew its stake in Moelis & Company by 4.4% in the second quarter. Amalgamated Bank now owns 21,013 shares of the asset manager’s stock valued at $1,310,000 after purchasing an additional 891 shares in the last quarter. Keybank National Association OH grew its stake in Moelis & Company by 67.6% in the second quarter. Keybank National Association OH now owns 6,677 shares of the asset manager’s stock valued at $416,000 after purchasing an additional 2,694 shares in the last quarter. Emerald Advisers LLC grew its stake in Moelis & Company by 7.4% in the second quarter. Emerald Advisers LLC now owns 458,006 shares of the asset manager’s stock valued at $28,543,000 after purchasing an additional 31,540 shares in the last quarter. World Investment Advisors bought a new position in Moelis & Company in the second quarter valued at approximately $453,000. Finally, Jennison Associates LLC grew its stake in Moelis & Company by 38.4% in the second quarter. Jennison Associates LLC now owns 671,431 shares of the asset manager’s stock valued at $41,844,000 after purchasing an additional 186,193 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on MC. Deutsche Bank Aktiengesellschaft began coverage on Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price target for the company. Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price target on Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets began coverage on Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and an average target price of $71.57.
Get Our Latest Research Report on MC
Moelis & Company Trading Up 2.4%
Shares of NYSE MC opened at $63.65 on Thursday. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The stock has a 50 day moving average of $70.09 and a 200-day moving average of $65.46. The company has a market capitalization of $5.00 billion, a P/E ratio of 21.29 and a beta of 1.80.
Moelis & Company (NYSE:MC – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. The business had revenue of $356.89 million during the quarter, compared to analysts’ expectations of $336.14 million. Moelis & Company had a return on equity of 47.11% and a net margin of 15.98%.The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. Analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.
Moelis & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is presently 86.96%.
Insiders Place Their Bets
In related news, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.
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.
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