Moelis & Company (NYSE:MC) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. grew its position in Moelis & Company (NYSE:MC) by 22.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,440 shares of the asset manager’s stock after acquiring an additional 1,750 shares during the period. Everence Capital Management Inc.’s holdings in Moelis & Company were worth $647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MC. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Moelis & Company in the first quarter valued at about $5,062,000. Blue Zone Wealth Advisors LLC purchased a new stake in shares of Moelis & Company in the first quarter valued at about $3,213,000. O ROURKE & COMPANY Inc boosted its holdings in shares of Moelis & Company by 9.5% in the first quarter. O ROURKE & COMPANY Inc now owns 6,181 shares of the asset manager’s stock valued at $351,000 after acquiring an additional 537 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Moelis & Company by 147.9% in the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 392 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Moelis & Company by 4.9% in the first quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after acquiring an additional 159,797 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC traded down $0.07 during midday trading on Monday, reaching $71.25. 144,437 shares of the company’s stock were exchanged, compared to its average volume of 624,099. The stock has a market capitalization of $5.33 billion, a PE ratio of -374.47 and a beta of 1.33. The business’s 50-day moving average price is $66.97 and its 200 day moving average price is $60.32. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $72.80.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. As a group, analysts expect that Moelis & Company will post 1.08 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Monday, August 5th. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Activity

In other news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,526 shares of company stock valued at $830,133 over the last 90 days. Insiders own 6.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Morgan Stanley boosted their price objective on shares of Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Finally, UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.00.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.