Moelis & Company (NYSE:MC) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its holdings in Moelis & Company (NYSE:MC) by 274.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,524 shares of the asset manager’s stock after acquiring an additional 12,110 shares during the period. XTX Topco Ltd’s holdings in Moelis & Company were worth $940,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Gabelli Funds LLC lifted its holdings in shares of Moelis & Company by 3.7% during the 4th quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock worth $1,490,000 after acquiring an additional 950 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in Moelis & Company during the first quarter worth approximately $3,213,000. Evoke Wealth LLC purchased a new position in Moelis & Company during the fourth quarter worth approximately $3,079,000. UniSuper Management Pty Ltd acquired a new position in shares of Moelis & Company in the 1st quarter valued at $801,000. Finally, Lord Abbett & CO. LLC grew its stake in shares of Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after buying an additional 55,402 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Down 0.6 %

Shares of NYSE:MC opened at $70.17 on Friday. The company has a 50 day moving average of $65.13 and a two-hundred day moving average of $58.31. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -369.32 and a beta of 1.33. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $70.82.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating 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 company had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue was up 47.1% on a year-over-year basis. On average, equities analysts anticipate that Moelis & Company will post 1.09 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.42%. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MC. 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 target price on the stock. 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 note on Tuesday, July 23rd. UBS Group increased their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, 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 research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.33.

Insider Buying and Selling at Moelis & Company

In other news, CFO Joseph Simon sold 6,723 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Moelis & Company news, 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 sale, the director now owns 9,372 shares in the company, valued at $649,385.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph Simon sold 6,723 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was 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. Insiders have sold a total of 12,526 shares of company stock valued at $830,133 in the last three months. Corporate insiders own 6.40% of the company’s stock.

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.