Madison Asset Management LLC Takes $109.06 Million Position in Moelis & Company $MC

Madison Asset Management LLC purchased a new position in shares of Moelis & Company (NYSE:MC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,667,157 shares of the asset manager’s stock, valued at approximately $109,065,000. Moelis & Company comprises approximately 1.3% of Madison Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Madison Asset Management LLC owned about 2.13% of Moelis & Company as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Allied Private Wealth LLC bought a new stake in Moelis & Company in the second quarter valued at about $25,000. Root Financial Partners LLC lifted its holdings in Moelis & Company by 292.2% during the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock worth $26,000 after buying an additional 339 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Moelis & Company by 64.4% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after buying an additional 163 shares during the last quarter. Allworth Financial LP grew its position in shares of Moelis & Company by 153.9% in the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Moelis & Company by 89.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after acquiring an additional 282 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Up 2.8%

Shares of Moelis & Company stock opened at $68.42 on Thursday. The business’s 50 day simple moving average is $67.16 and its 200-day simple moving average is $64.55. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 0.86 and a beta of 1.84. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 29th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $409.39 million for the quarter, compared to the consensus estimate of $387.27 million. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Sell-side analysts predict that Moelis & Company will post 3.13 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, August 10th. Moelis & Company’s dividend payout ratio (DPR) is presently 90.59%.

Insider Transactions at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 4,850 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total transaction of $336,105.00. Following the completion of the transaction, the general counsel owned 131 shares of the company’s stock, valued at approximately $9,078.30. The trade was a 97.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group reaffirmed a “sell” rating and issued a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Morgan Stanley lifted their price objective on shares of Moelis & Company from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and an average price target of $73.62.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.