Greenwood Capital Associates LLC Makes New Investment in Moelis & Company (NYSE:MC)

Greenwood Capital Associates LLC bought a new position in shares of Moelis & Company (NYSE:MC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,462 shares of the asset manager’s stock, valued at approximately $1,194,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Moelis & Company by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,147,315 shares of the asset manager’s stock worth $601,924,000 after buying an additional 99,766 shares during the period. Madison Investment Advisors LLC acquired a new position in Moelis & Company during the fourth quarter valued at $86,062,000. Charles Schwab Investment Management Inc. lifted its position in Moelis & Company by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager’s stock valued at $69,119,000 after purchasing an additional 12,632 shares during the period. Northern Trust Corp boosted its holdings in Moelis & Company by 4.5% in the fourth quarter. Northern Trust Corp now owns 860,125 shares of the asset manager’s stock valued at $63,546,000 after purchasing an additional 36,736 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Moelis & Company by 215.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager’s stock worth $53,444,000 after purchasing an additional 494,123 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MC shares. Morgan Stanley decreased their price objective on Moelis & Company from $70.00 to $42.00 and set an “underweight” rating for the company in a report on Monday, April 7th. Wells Fargo & Company lowered their price objective on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on shares of Moelis & Company from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group raised their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average price target of $59.83.

Moelis & Company Price Performance

Shares of MC stock opened at $58.63 on Friday. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 33.31 and a beta of 1.64. The stock has a 50 day simple moving average of $55.30 and a 200-day simple moving average of $65.61.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million during the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The firm’s revenue was up 41.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. Analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 annualized dividend and a dividend yield of 4.43%. Moelis & Company’s dividend payout ratio (DPR) is presently 119.27%.

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.