Comerica Bank Has $3.51 Million Stake in Moelis & Company (MC)
Comerica Bank decreased its position in Moelis & Company (NYSE:MC) by 4.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 86,386 shares of the asset manager’s stock after selling 4,496 shares during the period. Comerica Bank owned 0.32% of Moelis & worth $3,512,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock worth $117,000 after buying an additional 315 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Moelis & during the second quarter worth approximately $130,000. Nisa Investment Advisors LLC purchased a new stake in shares of Moelis & during the second quarter worth approximately $144,000. SG Americas Securities LLC purchased a new stake in shares of Moelis & during the second quarter worth approximately $171,000. Finally, Legal & General Group Plc boosted its stake in shares of Moelis & by 26.5% in the first quarter. Legal & General Group Plc now owns 5,753 shares of the asset manager’s stock worth $220,000 after buying an additional 1,204 shares during the last quarter. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of Moelis & Company (MC) opened at 39.40 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of 18.22 and a beta of 1.87. The company has a 50-day moving average of $39.74 and a 200-day moving average of $38.08. Moelis & Company has a 1-year low of $23.60 and a 1-year high of $44.85.
Moelis & (NYSE:MC) last released its quarterly earnings data on Monday, July 24th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.15. The firm had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. Moelis &’s revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. Analysts predict that Moelis & Company will post $2.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Tuesday, August 1st. Moelis &’s payout ratio is 74.00%.
A number of research firms recently issued reports on MC. BidaskClub cut shares of Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Bank of America Corporation lifted their price target on shares of Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. ValuEngine raised shares of Moelis & from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Zacks Investment Research cut shares of Moelis & from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods raised shares of Moelis & to a “hold” rating and set a $39.00 price target on the stock in a research note on Thursday, May 4th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $39.22.
Moelis & Company Profile
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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