Jackson Creek Investment Advisors LLC Acquires Shares of 19,669 Moelis & Company (NYSE:MC)

Jackson Creek Investment Advisors LLC purchased a new stake in shares of Moelis & Company (NYSE:MC) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,669 shares of the asset manager’s stock, valued at approximately $1,148,000.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Moelis & Company in the 4th quarter valued at approximately $52,610,000. Balyasny Asset Management L.P. grew its position in Moelis & Company by 215.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager’s stock worth $53,444,000 after acquiring an additional 494,123 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager’s stock worth $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Moelis & Company during the 4th quarter valued at $27,855,000. Finally, Capital Research Global Investors bought a new position in shares of Moelis & Company during the 4th quarter valued at $20,720,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MC. The Goldman Sachs Group raised their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Wells Fargo & Company lifted their price target on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods boosted their price objective on shares of Moelis & Company from $69.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $42.00 to $68.00 in a report on Monday, June 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.00.

Moelis & Company Stock Down 0.4%

MC traded down $0.27 during midday trading on Friday, reaching $71.56. 57,455 shares of the company’s stock were exchanged, compared to its average volume of 945,339. The business has a 50-day simple moving average of $61.06 and a two-hundred day simple moving average of $63.70. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 32.82 and a beta of 1.64. Moelis & Company has a one year low of $47.00 and a one year high of $82.89.

Moelis & Company (NYSE:MC) last posted its 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. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. The business had revenue of $306.59 million during the quarter, compared to the consensus estimate of $309.67 million. During the same quarter last year, the company earned $0.22 EPS. Moelis & Company’s revenue was up 41.0% on a year-over-year basis. As a group, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, May 5th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, May 5th. Moelis & Company’s payout ratio 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.