Moelis & Company $MC Shares Bought by Odyssean LLC

Odyssean LLC increased its stake in Moelis & Company (NYSE:MC) by 70.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,912 shares of the asset manager’s stock after acquiring an additional 18,194 shares during the period. Odyssean LLC’s holdings in Moelis & Company were worth $2,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Madison Asset Management LLC bought a new stake in Moelis & Company during the second quarter worth approximately $109,065,000. Balyasny Asset Management L.P. bought a new position in Moelis & Company during the 4th quarter valued at $60,857,000. Norges Bank acquired a new position in shares of Moelis & Company during the 4th quarter valued at $42,919,000. The Manufacturers Life Insurance Company increased its position in shares of Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock valued at $41,231,000 after purchasing an additional 609,162 shares during the period. Finally, Wasatch Advisors LP raised its stake in shares of Moelis & Company by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after buying an additional 458,575 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Zacks Research upgraded Moelis & Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Keefe, Bruyette & Woods decreased their target price on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research note on Friday, August 21st. UBS Group restated a “sell” rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Finally, Morgan Stanley upped their price objective on shares of Moelis & Company from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.62.

Moelis & Company Stock Down 0.0%

Shares of Moelis & Company stock opened at $69.12 on Friday. The stock has a market cap of $5.41 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 0.91 and a beta of 1.84. The business has a fifty day simple moving average of $67.36 and a 200-day simple moving average of $64.40. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates 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%.Moelis & Company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts expect that Moelis & Company will post 3.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

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

Insider Activity

In other news, General Counsel Osamu R. Watanabe sold 4,850 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total value of $336,105.00. Following the completion of the sale, the general counsel directly owned 131 shares of the company’s stock, valued at $9,078.30. This represents a 97.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Shropshire sold 1,881 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total transaction of $129,901.86. Following the completion of the sale, the director directly owned 7,633 shares of the company’s stock, valued at $527,134.98. This trade represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.29% of the company’s stock.

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. 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.