Argent Trust Co Has $406,000 Stock Holdings in Moelis & Company (NYSE:MC)

Argent Trust Co lifted its stake in Moelis & Company (NYSE:MC) by 8.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,145 shares of the asset manager’s stock after purchasing an additional 570 shares during the quarter. Argent Trust Co’s holdings in Moelis & Company were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MC. UMB Bank n.a. lifted its stake in Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Moelis & Company by 147.9% in the 1st 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. Benjamin F. Edwards & Company Inc. boosted its stake in Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after purchasing an additional 699 shares during the period. Assetmark Inc. grew its position in Moelis & Company by 22.5% during 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 in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Moelis & Company during the 2nd quarter worth approximately $113,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Moelis & Company Stock Up 2.5 %

MC stock opened at $70.62 on Friday. The firm has a 50 day moving average of $64.94 and a two-hundred day moving average of $58.14. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $70.75. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of -371.68 and a beta of 1.33.

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

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be issued a $0.60 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.40%. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Insider Activity

In related 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 transaction of $430,272.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is owned by insiders.

Moelis & 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.