Oppenheimer Asset Management Inc. Has $2.92 Million Stock Holdings in Moelis & Company (NYSE:MC)

Oppenheimer Asset Management Inc. lifted its stake in Moelis & Company (NYSE:MC) by 49.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,275 shares of the asset manager’s stock after acquiring an additional 16,965 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Moelis & Company were worth $2,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Headlands Technologies LLC bought a new stake in Moelis & Company during the second quarter worth $113,000. Choreo LLC acquired a new stake in Moelis & Company in the 2nd quarter valued at about $259,000. Los Angeles Capital Management LLC bought a new position in Moelis & Company during the second quarter worth about $515,000. Arizona State Retirement System increased its position in Moelis & Company by 1.9% during the second quarter. Arizona State Retirement System now owns 18,666 shares of the asset manager’s stock worth $1,061,000 after buying an additional 345 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Moelis & Company by 1.8% in the second quarter. Rhumbline Advisers now owns 201,473 shares of the asset manager’s stock valued at $11,456,000 after buying an additional 3,651 shares during the period. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Up 1.4 %

MC stock opened at $68.30 on Tuesday. The company’s 50-day moving average price is $64.31 and its two-hundred day moving average price is $57.87. The firm has a market cap of $5.11 billion, a P/E ratio of -359.47 and a beta of 1.33. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $70.00.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company’s revenue was up 47.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) earnings per share. Equities analysts predict that Moelis & Company will post 1.09 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, August 5th. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insiders Place Their Bets

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 value of $430,272.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the transaction, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Joseph Simon sold 6,723 shares of Moelis & Company 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MC. Morgan Stanley lifted their target price on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. UBS Group raised their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Two investment 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 company has a consensus rating of “Hold” and a consensus price target of $58.33.

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.