Royce & Associates LP Sells 501,185 Shares of Moelis & Company (MC)
Royce & Associates LP cut its position in Moelis & Company (NYSE:MC) by 38.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 793,186 shares of the asset manager’s stock after selling 501,185 shares during the period. Royce & Associates LP owned approximately 2.88% of Moelis & worth $30,815,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MC. Teachers Advisors LLC raised its stake in Moelis & by 87.8% in the fourth quarter. Teachers Advisors LLC now owns 99,339 shares of the asset manager’s stock worth $3,368,000 after buying an additional 46,431 shares during the period. Nationwide Fund Advisors raised its stake in Moelis & by 5.9% in the first quarter. Nationwide Fund Advisors now owns 12,437 shares of the asset manager’s stock worth $479,000 after buying an additional 690 shares during the period. Acadian Asset Management LLC raised its stake in Moelis & by 22,323.3% in the first quarter. Acadian Asset Management LLC now owns 48,210 shares of the asset manager’s stock worth $1,855,000 after buying an additional 47,995 shares during the period. Russell Investments Group Ltd. raised its stake in Moelis & by 2,701.1% in the first quarter. Russell Investments Group Ltd. now owns 566,075 shares of the asset manager’s stock worth $21,794,000 after buying an additional 545,866 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Moelis & by 1,398.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 460,565 shares of the asset manager’s stock worth $17,732,000 after buying an additional 429,825 shares during the period. 90.82% of the stock is owned by institutional investors and hedge funds.
Moelis & Company (MC) opened at 39.25 on Monday. Moelis & Company has a 12 month low of $23.60 and a 12 month high of $44.85. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.15 and a beta of 1.87. The firm has a 50-day moving average price of $39.75 and a 200-day moving average price of $38.01.
Moelis & (NYSE:MC) last posted its quarterly earnings data on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. The firm had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $156.85 million. Moelis & had a net margin of 8.50% and a return on equity of 52.98%. The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. On average, equities analysts anticipate that Moelis & Company will post $2.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Tuesday, August 1st. Moelis &’s dividend payout ratio (DPR) is currently 74.00%.
MC has been the topic of a number of research analyst reports. BidaskClub lowered Moelis & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Bank of America Corporation increased their price target on Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. ValuEngine upgraded Moelis & from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Zacks Investment Research lowered Moelis & from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods upgraded Moelis & to a “hold” rating and set a $39.00 price target on the stock in a research report on Thursday, May 4th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Moelis & presently has a consensus rating of “Buy” and an average target price of $39.22.
Moelis & Company Profile
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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