Public Sector Pension Investment Board Acquires 18,169 Shares of Moelis & Company (NYSE:MC)

Public Sector Pension Investment Board raised its holdings in shares of Moelis & Company (NYSE:MC) by 13.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 154,814 shares of the asset manager’s stock after purchasing an additional 18,169 shares during the period. Public Sector Pension Investment Board’s holdings in Moelis & Company were worth $8,803,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MC. Norges Bank purchased a new stake in shares of Moelis & Company in the 4th quarter worth approximately $41,720,000. Natixis Advisors LLC increased its holdings in shares of Moelis & Company by 179.2% during the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after acquiring an additional 454,478 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after purchasing an additional 334,620 shares during the last quarter. Azora Capital LP bought a new position in Moelis & Company in the 4th quarter worth about $10,601,000. Finally, Wasatch Advisors LP grew its position in Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Moelis & Company

In related news, 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 transaction of $34,298.55. Following the transaction, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at approximately $649,385.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares of the company’s stock, valued at $5,922.82. The disclosure for this sale can be found here. Insiders sold a total of 12,526 shares of company stock valued at $830,133 over the last three months. Corporate insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MC shares. JPMorgan Chase & Co. upped their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed 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 Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a report on Monday. UBS Group upped their price target on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Finally, Wells Fargo & Company initiated coverage on Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.33.

Moelis & Company Price Performance

NYSE:MC opened at $70.09 on Tuesday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -368.89 and a beta of 1.33. The business has a fifty day moving average price of $65.25 and a 200-day moving average price of $58.48. Moelis & Company has a one year low of $38.58 and a one year high of $71.34.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share 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 in the previous year, the firm earned ($0.04) EPS. The business’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities research analysts expect that Moelis & Company will post 1.09 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company 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 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 presently -1,263.16%.

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.