Moelis & Company (MC) Position Lessened by Nicholas Investment Partners LP
Nicholas Investment Partners LP trimmed its holdings in shares of Moelis & Company (NYSE:MC) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,216 shares of the asset manager’s stock after selling 1,828 shares during the quarter. Nicholas Investment Partners LP owned 0.25% of Moelis & Company worth $5,735,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. AGF Investments Inc. acquired a new position in Moelis & Company in the 2nd quarter valued at about $21,907,000. American Century Companies Inc. grew its position in Moelis & Company by 636.3% in the 3rd quarter. American Century Companies Inc. now owns 564,299 shares of the asset manager’s stock valued at $24,293,000 after acquiring an additional 487,660 shares in the last quarter. Principal Financial Group Inc. grew its position in Moelis & Company by 76.7% in the 2nd 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 in the last quarter. Winslow Asset Management Inc. purchased a new position in shares of Moelis & Company in the 2nd quarter valued at about $7,795,000. Finally, Pier Capital LLC purchased a new position in shares of Moelis & Company in the 3rd quarter valued at about $7,145,000. 56.81% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on MC. Zacks Investment Research upgraded Moelis & Company from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday, November 29th. Morgan Stanley lifted their price objective on Moelis & Company from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. UBS lifted their price objective on Moelis & Company from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Finally, JMP Securities lifted their price objective on Moelis & Company from $44.00 to $47.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $45.00.
In related news, Chairman Kenneth Moelis sold 30,656 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $42.67, for a total transaction of $1,308,091.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 80,956 shares of company stock valued at $3,451,515. 52.64% of the stock is owned by company insiders.
Moelis & Company (MC) traded up $0.05 during mid-day trading on Tuesday, reaching $47.95. The company had a trading volume of 209,200 shares, compared to its average volume of 341,456. The stock has a market capitalization of $2,560.00, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.00 and a beta of 1.91. Moelis & Company has a 12-month low of $28.75 and a 12-month high of $48.85.
Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.15. The firm had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $168.51 million. Moelis & Company had a return on equity of 52.76% and a net margin of 9.62%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. equities analysts anticipate that Moelis & Company will post 2.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, November 3rd. Moelis & Company’s payout ratio is 70.81%.
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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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