Cubist Systematic Strategies LLC Invests $203,000 in Moelis & Company (MC) Stock
Cubist Systematic Strategies LLC bought a new position in shares of Moelis & Company (NYSE:MC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,216 shares of the asset manager’s stock, valued at approximately $203,000.
Other institutional investors have also bought and sold shares of the company. Ffcm LLC purchased a new position in Moelis & during the second quarter worth about $112,000. BNP Paribas Arbitrage SA grew its position in Moelis & by 594.2% during the second quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock worth $116,000 after buying an additional 2,549 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Moelis & by 11.6% during 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 in the last quarter. Meeder Asset Management Inc. purchased a new position in Moelis & during the second quarter worth about $130,000. Finally, Nisa Investment Advisors LLC purchased a new position in Moelis & during the second quarter worth about $144,000. Institutional investors and hedge funds own 90.80% of the company’s stock.
A number of research firms have recently issued reports on MC. Zacks Investment Research upgraded Moelis & from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday. UBS Group AG (USA) upped their price objective on Moelis & from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Morgan Stanley upped their price objective on Moelis & from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. JMP Securities upped their price objective on Moelis & from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Finally, BidaskClub upgraded Moelis & from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.00.
In other news, Chairman Kenneth Moelis sold 40,800 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.66, for a total value of $1,740,528.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 80,956 shares of company stock worth $3,451,515 in the last 90 days. 52.64% of the stock is owned by corporate insiders.
Shares of Moelis & Company (MC) opened at $42.15 on Friday. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.80 and a beta of 1.87.
Moelis & (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. Moelis & had a net margin of 9.62% and a return on equity of 56.83%. The firm had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.51 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. equities research analysts anticipate that Moelis & Company will post 2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.51%. Moelis &’s dividend payout ratio is presently 70.81%.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.watchlistnews.com/cubist-systematic-strategies-llc-invests-203000-in-moelis-company-mc-stock/1677612.html.
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.
Want to see what other hedge funds are holding MC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Moelis & Company (NYSE:MC).
Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with Analyst Ratings Network's FREE daily email newsletter.