GAMMA Investing LLC Buys 534 Shares of Moelis & Company (NYSE:MC)

GAMMA Investing LLC boosted its position in Moelis & Company (NYSE:MC) by 115.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 995 shares of the asset manager’s stock after acquiring an additional 534 shares during the period. GAMMA Investing LLC’s holdings in Moelis & Company were worth $68,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MC. Sanctuary Advisors LLC bought a new stake in shares of Moelis & Company during the second quarter worth about $554,000. Algert Global LLC bought a new position in Moelis & Company during the 2nd quarter valued at $382,000. SkyView Investment Advisors LLC lifted its position in shares of Moelis & Company by 1.4% during the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock valued at $788,000 after purchasing an additional 188 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Moelis & Company by 12.3% in the second quarter. The Manufacturers Life Insurance Company now owns 54,462 shares of the asset manager’s stock valued at $3,097,000 after acquiring an additional 5,954 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Moelis & Company by 10.5% in the second quarter. Xponance Inc. now owns 4,501 shares of the asset manager’s stock valued at $256,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Insider Activity at Moelis & Company

In other news, CFO Joseph Simon sold 6,723 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction on 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 SEC, which is available at this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction 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 directly owns 9,372 shares of the company’s stock, valued at $649,385.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is owned by company insiders.

Moelis & Company Stock Up 1.9 %

NYSE MC opened at $70.96 on Wednesday. The company has a market cap of $5.31 billion, a PE ratio of -373.47 and a beta of 1.33. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $72.15. The firm’s 50-day simple moving average is $66.09 and its two-hundred day simple moving average is $59.89.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, beating 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 company had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. During the same period in the prior year, the company posted ($0.04) EPS. Moelis & Company’s revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Moelis & Company will post 1.08 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, August 5th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Analyst Upgrades and Downgrades

MC has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective 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 boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a report on Monday, September 23rd. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.00.

Moelis & Company 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.