Moelis & Company (NYSE:MC) Sets New 52-Week High at $71.30

Moelis & Company (NYSE:MC) hit a new 52-week high during trading on Monday . The company traded as high as $71.30 and last traded at $71.30, with a volume of 4783 shares. The stock had previously closed at $70.17.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MC shares. JPMorgan Chase & Co. lifted their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group boosted their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Morgan Stanley lifted their price objective on Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.33.

Moelis & Company Stock Up 1.2 %

The stock has a market capitalization of $5.31 billion, a P/E ratio of -369.32 and a beta of 1.33. The firm has a fifty day moving average price of $65.13 and a two-hundred day moving average price of $58.36.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) EPS. Sell-side analysts anticipate that Moelis & Company will post 1.09 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Buying and Selling at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares in the company, valued at $649,385.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the firm’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 sale, the director now directly owns 9,372 shares in the company, valued at $649,385.88. The disclosure for this sale can be found here. Insiders have sold 12,526 shares of company stock worth $830,133 over the last quarter. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in Moelis & Company in the second quarter valued at $554,000. Algert Global LLC purchased a new stake in Moelis & Company during the 2nd quarter valued at approximately $382,000. SkyView Investment Advisors LLC lifted its stake in shares of Moelis & Company by 1.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock worth $788,000 after acquiring an additional 188 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Moelis & Company by 12.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,462 shares of the asset manager’s stock valued at $3,097,000 after purchasing an additional 5,954 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Moelis & Company by 10.5% in the second quarter. Xponance Inc. now owns 4,501 shares of the asset manager’s stock valued at $256,000 after buying an additional 426 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.