Capital Management Corp VA Has $15.34 Million Position in Moelis & Company $MC

Capital Management Corp VA boosted its position in Moelis & Company (NYSE:MC) by 17.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 246,151 shares of the asset manager’s stock after acquiring an additional 36,498 shares during the period. Moelis & Company makes up about 2.6% of Capital Management Corp VA’s portfolio, making the stock its 17th largest position. Capital Management Corp VA’s holdings in Moelis & Company were worth $15,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MC. Fulton Bank N.A. boosted its holdings in shares of Moelis & Company by 2.9% during the 2nd quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager’s stock worth $410,000 after buying an additional 188 shares during the period. Palisades Investment Partners LLC grew its position in Moelis & Company by 0.3% during the first quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager’s stock worth $4,478,000 after buying an additional 204 shares in the last quarter. Choreo LLC increased its position in shares of Moelis & Company by 5.1% in the first quarter. Choreo LLC now owns 5,075 shares of the asset manager’s stock worth $296,000 after purchasing an additional 244 shares during the period. Peak Financial Advisors LLC increased its holdings in Moelis & Company by 2.9% in the 2nd quarter. Peak Financial Advisors LLC now owns 8,814 shares of the asset manager’s stock valued at $549,000 after buying an additional 247 shares during the period. Finally, New England Research & Management Inc. increased its stake in Moelis & Company by 1.7% in the second quarter. New England Research & Management Inc. now owns 15,375 shares of the asset manager’s stock valued at $958,000 after acquiring an additional 250 shares during the last quarter. 91.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MC. Deutsche Bank Aktiengesellschaft began coverage on Moelis & Company in a research report on Thursday, October 9th. They set a “buy” rating and a $80.00 price objective for the company. Morgan Stanley boosted their target price on Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Wells Fargo & Company increased their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price target on the stock. Finally, Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.86.

Moelis & Company Trading Up 3.1%

Moelis & Company stock opened at $67.83 on Wednesday. The stock has a 50-day moving average price of $71.53 and a two-hundred day moving average price of $63.75. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The company has a market capitalization of $5.32 billion, a PE ratio of 26.70 and a beta of 1.77.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The company had revenue of $365.38 million for the quarter, compared to analysts’ expectations of $269.57 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s quarterly revenue was up 38.1% compared to the same quarter last year. As a group, analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Monday, August 4th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, August 4th. Moelis & Company’s dividend payout ratio is 102.36%.

Insider Buying and Selling at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the firm’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel owned 131 shares of the company’s stock, valued at approximately $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction 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 transaction, the director owned 7,109 shares in the company, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Moelis & 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.