Hexagon Capital Partners LLC Grows Stock Holdings in Moelis & Company (NYSE:MC)

Hexagon Capital Partners LLC increased its stake in Moelis & Company (NYSE:MC) by 147.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 657 shares of the asset manager’s stock after buying an additional 392 shares during the period. Hexagon Capital Partners LLC’s holdings in Moelis & Company were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gabelli Funds LLC grew its stake in shares of Moelis & Company by 3.7% in the fourth 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 last quarter. Blue Zone Wealth Advisors LLC purchased a new stake in Moelis & Company during the 1st quarter valued at about $3,213,000. Evoke Wealth LLC bought a new stake in Moelis & Company during the 4th quarter valued at about $3,079,000. Natixis Advisors L.P. raised its holdings in Moelis & Company by 19.0% in the fourth quarter. Natixis Advisors L.P. now owns 146,449 shares of the asset manager’s stock worth $8,219,000 after buying an additional 23,426 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Moelis & Company by 26.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 96,568 shares of the asset manager’s stock worth $5,420,000 after buying an additional 20,413 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

Shares of MC opened at $57.16 on Tuesday. Moelis & Company has a one year low of $38.58 and a one year high of $58.67. The business has a fifty day moving average of $54.19 and a 200 day moving average of $54.60. The firm has a market capitalization of $4.27 billion, a P/E ratio of -300.84 and a beta of 1.35.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $217.49 million for the quarter, compared to analysts’ expectations of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. Analysts expect that Moelis & Company will post 1.29 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.20%. The ex-dividend date was Friday, May 3rd. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Activity at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at $2,290,965.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their price target for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. UBS Group increased their price objective on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, April 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $50.80.

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.