Shell Asset Management Co. Buys 955 Shares of Moelis & Company (NYSE:MC)

Shell Asset Management Co. lifted its stake in shares of Moelis & Company (NYSE:MCGet Rating) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,873 shares of the asset manager’s stock after purchasing an additional 955 shares during the quarter. Shell Asset Management Co.’s holdings in Moelis & Company were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Moelis & Company by 5.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,563 shares of the asset manager’s stock valued at $223,000 after purchasing an additional 180 shares during the last quarter. Campbell Newman Asset Management Inc. grew its holdings in shares of Moelis & Company by 2.0% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 13,916 shares of the asset manager’s stock valued at $653,000 after purchasing an additional 277 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Moelis & Company by 8.9% during the 4th quarter. M&T Bank Corp now owns 3,667 shares of the asset manager’s stock valued at $229,000 after purchasing an additional 301 shares during the last quarter. MUFG Americas Holdings Corp grew its holdings in Moelis & Company by 157.8% during the 4th quarter. MUFG Americas Holdings Corp now owns 691 shares of the asset manager’s stock worth $43,000 after acquiring an additional 423 shares during the last quarter. Finally, Covestor Ltd bought a new stake in Moelis & Company during the 4th quarter worth approximately $29,000. 86.17% of the stock is owned by institutional investors.

Moelis & Company Stock Performance

NYSE:MC opened at $45.19 on Friday. The firm’s fifty day moving average is $41.99 and its 200-day moving average is $45.77. Moelis & Company has a 52 week low of $37.16 and a 52 week high of $77.49. The firm has a market cap of $3.14 billion, a P/E ratio of 9.68 and a beta of 1.28.

Moelis & Company (NYSE:MCGet Rating) last released its earnings results on Wednesday, July 27th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Moelis & Company had a net margin of 22.19% and a return on equity of 76.91%. The company had revenue of $242.52 million for the quarter, compared to analyst estimates of $199.79 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm’s revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Moelis & Company will post 2.85 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Monday, August 8th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.31%. Moelis & Company’s payout ratio is presently 51.39%.

Insider Activity at Moelis & Company

In related news, COO Elizabeth Crain sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $47.08, for a total transaction of $329,560.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.97% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Morgan Stanley lowered shares of Moelis & Company from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $53.00 to $36.00 in a report on Monday, July 18th. Piper Sandler reduced their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. The Goldman Sachs Group reduced their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Wolfe Research lowered shares of Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Finally, UBS Group boosted their target price on shares of Moelis & Company from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.67.

Moelis & Company Company Profile

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Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

Further Reading

Institutional Ownership by Quarter for Moelis & Company (NYSE:MC)

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