Moelis & Company (MC) Position Increased by Voya Investment Management LLC
Voya Investment Management LLC increased its holdings in shares of Moelis & Company (NYSE:MC) by 76.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,586 shares of the asset manager’s stock after purchasing an additional 4,579 shares during the quarter. Voya Investment Management LLC’s holdings in Moelis & were worth $411,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Mckinley Capital Management LLC Delaware increased its position in shares of Moelis & by 1,382.1% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 135,758 shares of the asset manager’s stock worth $5,274,000 after purchasing an additional 126,598 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Moelis & by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 492,213 shares of the asset manager’s stock valued at $19,123,000 after acquiring an additional 79,405 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in Moelis & in the 2nd quarter valued at about $449,000. Parametric Portfolio Associates LLC grew its position in Moelis & by 95.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 47,895 shares of the asset manager’s stock valued at $1,861,000 after acquiring an additional 23,389 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in Moelis & in the 2nd quarter valued at about $1,957,000. 90.80% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Moelis & from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, October 31st. UBS AG lifted their target price on Moelis & from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. BidaskClub downgraded Moelis & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Morgan Stanley lifted their price objective on Moelis & from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Finally, JMP Securities lifted their price objective on Moelis & from $44.00 to $47.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $42.00.
Shares of Moelis & Company (NYSE MC) opened at $43.90 on Friday. The firm has a market capitalization of $2,304.18, a P/E ratio of 17.80, a P/E/G ratio of 1.81 and a beta of 1.87. Moelis & Company has a 52 week low of $26.20 and a 52 week high of $45.50.
Moelis & (NYSE:MC) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.15. The firm had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $168.51 million. Moelis & had a return on equity of 52.76% and a net margin of 9.62%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 earnings per share. analysts forecast that Moelis & Company will post 2.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, November 3rd. Moelis &’s payout ratio is 70.81%.
In related news, Chairman Kenneth Moelis sold 30,656 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $42.67, for a total transaction of $1,308,091.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 80,956 shares of company stock valued at $3,451,515. 52.64% 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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