Public Sector Pension Investment Board Has $8.80 Million Stake in Moelis & Company (NYSE:MC)

Public Sector Pension Investment Board grew its stake in Moelis & Company (NYSE:MC) by 13.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,814 shares of the asset manager’s stock after purchasing an additional 18,169 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Moelis & Company worth $8,803,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MC. UMB Bank n.a. boosted 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 acquiring an additional 193 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in 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 purchasing an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position 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 in the last quarter. Assetmark Inc. increased its stake in Moelis & Company by 22.5% in the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after buying an additional 276 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of 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

MC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. UBS Group upped their price objective on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley lifted their price objective on Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a report on Monday. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.33.

Insider Buying and Selling

In other news, CFO Joseph Simon sold 6,723 shares of Moelis & Company 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 transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kenneth Shropshire sold 495 shares of the business’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 transaction, 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 a total of 12,526 shares of company stock worth $830,133 in the last 90 days. 6.40% of the stock is owned by company insiders.

Moelis & Company Stock Performance

Shares of MC stock opened at $70.09 on Tuesday. The company has a market capitalization of $5.24 billion, a PE ratio of -368.89 and a beta of 1.33. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $71.34. The business’s fifty day moving average is $65.25 and its 200 day moving average is $58.48.

Moelis & Company (NYSE:MC) last released its quarterly 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. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The business’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts forecast that Moelis & Company will post 1.09 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

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 paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.42%. Moelis & Company’s dividend payout ratio (DPR) is -1,263.16%.

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.