Kayne Anderson Rudnick Investment Management LLC Has $408.84 Million Position in Moelis & Company (NYSE:MC)

Kayne Anderson Rudnick Investment Management LLC grew its holdings in Moelis & Company (NYSE:MC) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,190,221 shares of the asset manager’s stock after buying an additional 47,365 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 9.61% of Moelis & Company worth $408,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. UMB Bank n.a. lifted its holdings in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Moelis & Company by 510.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 699 shares during the period. Assetmark Inc. boosted its holdings in Moelis & Company by 22.5% in the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after acquiring an additional 276 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Moelis & Company in the second quarter worth about $113,000. 91.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley upped their target price 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. Finally, UBS Group lifted their price objective on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $58.33.

Insider Activity at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total value of $365,561.96. Following the transaction, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $430,272.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is owned by company insiders.

Moelis & Company Stock Performance

MC opened at $70.16 on Friday. The firm’s fifty day moving average is $65.13 and its two-hundred day moving average is $58.27. The firm has a market cap of $5.25 billion, a PE ratio of -369.26 and a beta of 1.33. Moelis & Company has a twelve month low of $38.58 and a twelve month high of $70.82.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data 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 return on equity of 4.38% and a net margin of 1.38%. The business had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. During the same quarter last year, the business posted ($0.04) EPS. The firm’s revenue was up 47.1% compared to the same quarter last year. Equities analysts forecast that Moelis & Company will post 1.09 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 26th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

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.