Algert Global LLC Invests $382,000 in Moelis & Company (NYSE:MC)

Algert Global LLC purchased a new stake in shares of Moelis & Company (NYSE:MC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,711 shares of the asset manager’s stock, valued at approximately $382,000.

Other hedge funds have also bought and sold shares of the company. Gabelli Funds LLC boosted its stake in Moelis & Company by 3.7% in the 4th quarter. Gabelli Funds LLC now owns 26,550 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 950 shares during the period. Bridgefront Capital LLC purchased a new position in Moelis & Company during the fourth quarter valued at approximately $638,000. Winslow Asset Management Inc. grew its stake in Moelis & Company by 1.5% during the fourth quarter. Winslow Asset Management Inc. now owns 174,963 shares of the asset manager’s stock valued at $9,821,000 after acquiring an additional 2,593 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after acquiring an additional 334,620 shares during the period. Finally, Peak Financial Advisors LLC lifted its stake in Moelis & Company by 2.9% in the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock worth $495,000 after purchasing an additional 245 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Stock Performance

Shares of Moelis & Company stock opened at $66.63 on Tuesday. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $71.34. The company has a fifty day moving average of $65.76 and a 200-day moving average of $59.47. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of -350.68 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts forecast that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. Moelis & Company’s dividend payout ratio is -1,263.16%.

Insider Buying and Selling

In other Moelis & Company news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Joseph Simon sold 6,723 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company 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 sale, the director now owns 9,372 shares in the company, valued at $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. 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 over the last three months. 6.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MC. UBS Group upped their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a report on Tuesday, July 9th. 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 research report on Thursday, July 25th. Keefe, Bruyette & Woods restated 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. Morgan Stanley lifted their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company started coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average target price of $59.33.

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.