Acadian Asset Management LLC Has $1.03 Million Stake in Moelis & Company (MC)
Acadian Asset Management LLC decreased its stake in Moelis & Company (NYSE:MC) by 44.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 26,598 shares of the asset manager’s stock after selling 21,612 shares during the period. Acadian Asset Management LLC’s holdings in Moelis & were worth $1,034,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of MC. Deprince Race & Zollo Inc. acquired a new stake in shares of Moelis & during the first quarter valued at approximately $39,733,000. Russell Investments Group Ltd. boosted its stake in shares of Moelis & by 2,701.1% in the first quarter. Russell Investments Group Ltd. now owns 566,075 shares of the asset manager’s stock valued at $21,794,000 after buying an additional 545,866 shares during the period. Vanguard Group Inc. boosted its stake in shares of Moelis & by 31.1% in the first quarter. Vanguard Group Inc. now owns 1,920,061 shares of the asset manager’s stock valued at $73,923,000 after buying an additional 455,098 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Moelis & by 1,398.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 460,565 shares of the asset manager’s stock valued at $17,732,000 after buying an additional 429,825 shares during the period. Finally, Emerald Advisers Inc. PA boosted its stake in shares of Moelis & by 368.7% in the first quarter. Emerald Advisers Inc. PA now owns 467,911 shares of the asset manager’s stock valued at $18,015,000 after buying an additional 368,080 shares during the period. 90.89% of the stock is currently owned by hedge funds and other institutional investors.
Moelis & Company (NYSE MC) traded down 0.77% on Friday, hitting $38.75. 140,415 shares of the stock traded hands. The firm has a market capitalization of $1.07 billion, a PE ratio of 17.92 and a beta of 1.87. Moelis & Company has a 52 week low of $23.60 and a 52 week high of $44.85. The stock has a 50 day moving average of $39.71 and a 200 day moving average of $37.66.
Moelis & (NYSE:MC) last released its quarterly earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.15. Moelis & had a net margin of 8.50% and a return on equity of 52.98%. The company had revenue of $172.10 million for the quarter, compared to analyst estimates of $156.85 million. During the same period last year, the firm earned $0.35 earnings per share. The firm’s revenue was up 30.7% on a year-over-year basis. Equities research analysts anticipate that Moelis & Company will post $2.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Tuesday, August 1st. Moelis &’s payout ratio is currently 74.00%.
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Several equities research analysts have commented on MC shares. Keefe, Bruyette & Woods raised shares of Moelis & to a “hold” rating and set a $39.00 price target on the stock in a research report on Thursday, May 4th. ValuEngine raised shares of Moelis & from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Zacks Investment Research cut shares of Moelis & from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation boosted their price target on shares of Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley boosted their price target on shares of Moelis & from $39.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Moelis & presently has an average rating of “Buy” and an average price target of $39.22.
In related news, Chairman Kenneth Moelis sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $37.46, for a total transaction of $561,900.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 64.47% of the stock is owned by company insiders.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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