Swiss National Bank Acquires 13,400 Shares of Moelis & Company (MC)
Swiss National Bank increased its holdings in Moelis & Company (NYSE:MC) by 31.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,800 shares of the asset manager’s stock after acquiring an additional 13,400 shares during the quarter. Swiss National Bank owned approximately 104,729.73% of Moelis & worth $2,402,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. increased its holdings in shares of Moelis & by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,752 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 33 shares during the period. Hillsdale Investment Management Inc. increased its holdings in shares of Moelis & by 0.8% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 26,810 shares of the asset manager’s stock valued at $1,041,000 after acquiring an additional 210 shares during the period. Stifel Financial Corp increased its holdings in shares of Moelis & by 1.3% in the 2nd quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock valued at $1,422,000 after acquiring an additional 478 shares during the period. Legal & General Group Plc increased its stake in Moelis & by 11.7% in the 2nd quarter. Legal & General Group Plc now owns 6,427 shares of the asset manager’s stock valued at $249,000 after buying an additional 674 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Moelis & by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock valued at $1,605,000 after buying an additional 780 shares during the period. 90.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. UBS AG boosted their price objective on shares of Moelis & from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. JMP Securities boosted their price objective on shares of Moelis & from $44.00 to $47.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. Morgan Stanley boosted their price objective on shares of Moelis & from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Zacks Investment Research cut shares of Moelis & from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, BidaskClub cut shares of Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Moelis & presently has a consensus rating of “Buy” and a consensus target price of $44.29.
Shares of Moelis & Company (NYSE:MC) opened at $46.85 on Friday. Moelis & Company has a 1 year low of $28.20 and a 1 year high of $47.20. The company has a market cap of $2,499.40, a PE ratio of 19.30, a P/E/G ratio of 1.96 and a beta of 1.87.
Moelis & (NYSE:MC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, topping the consensus estimate of $0.42 by $0.15. Moelis & had a net margin of 9.62% and a return on equity of 52.76%. The business had revenue of $170.00 million for the quarter, compared to analyst estimates of $168.51 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. analysts expect that Moelis & Company will post 2.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.48 annualized dividend and a dividend yield of 3.16%. Moelis &’s dividend payout ratio is presently 70.81%.
In related news, Chairman Kenneth Moelis sold 40,800 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $42.66, for a total value of $1,740,528.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 80,956 shares of company stock worth $3,451,515 over the last quarter. Insiders own 52.64% of the company’s stock.
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Moelis & 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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