Wealth Enhancement Advisory Services LLC Makes New $5.06 Million Investment in Moelis & Company (NYSE:MC)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Moelis & Company (NYSE:MC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 89,173 shares of the asset manager’s stock, valued at approximately $5,062,000. Wealth Enhancement Advisory Services LLC owned approximately 0.13% of Moelis & Company at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. O ROURKE & COMPANY Inc lifted its stake in Moelis & Company by 4.1% during the 4th quarter. O ROURKE & COMPANY Inc now owns 5,644 shares of the asset manager’s stock valued at $317,000 after acquiring an additional 221 shares during the period. Peak Financial Advisors LLC boosted its holdings in Moelis & Company by 2.9% in the first quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock worth $495,000 after purchasing an additional 245 shares during the last quarter. Assetmark Inc. grew its position in Moelis & Company by 22.5% in the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after purchasing an additional 276 shares during the period. Verdence Capital Advisors LLC raised its stake in Moelis & Company by 1.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 33,054 shares of the asset manager’s stock valued at $1,855,000 after buying an additional 340 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Moelis & Company by 5.9% during the 4th quarter. D.A. Davidson & CO. now owns 7,056 shares of the asset manager’s stock valued at $396,000 after buying an additional 390 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the completion of the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Moelis sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Moelis & Company Trading Up 0.5 %

Shares of NYSE:MC opened at $57.16 on Tuesday. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $58.67. The company has a market cap of $4.27 billion, a PE ratio of -300.84 and a beta of 1.35. The stock has a 50 day moving average of $54.19 and a 200 day moving average of $54.60.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The firm had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. During the same period in the prior year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts predict that Moelis & Company will post 1.29 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 4.20%. Moelis & Company’s payout ratio is presently -1,263.16%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MC shares. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and upped their price objective for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. UBS Group boosted their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, April 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.80.

Moelis & Company Company Profile

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.