Belpointe Asset Management LLC Buys New Shares in Moelis & Company (NYSE:MC)

Belpointe Asset Management LLC purchased a new position in Moelis & Company (NYSE:MC – Get Rating) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,800 shares of the asset manager’s stock, valued at approximately $69,000.

Several other hedge funds have also recently made changes to their positions in the business. FourThought Financial LLC boosted its stake in shares of Moelis & Company by 74.5% during the third quarter. FourThought Financial LLC now owns 1,251 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 534 shares in the last quarter. Signaturefd LLC lifted its position in Moelis & Company by 264.6% during the third quarter. Signaturefd LLC now owns 1,265 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 918 shares during the last quarter. Covestor Ltd lifted its position in Moelis & Company by 230.3% during the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 1,073 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Moelis & Company in the third quarter worth $96,000. Finally, Glassy Mountain Advisors Inc. purchased a new position in shares of Moelis & Company in the fourth quarter worth $115,000. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Moelis & Company from $30.00 to $29.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 12th. The Goldman Sachs Group increased their price objective on shares of Moelis & Company from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Thursday, February 9th. Finally, StockNews.com assumed coverage on shares of Moelis & Company in a research report on Thursday. They set a “hold” rating on the stock. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $37.86.

Moelis & Company Stock Down 0.3 %

Shares of NYSE MC opened at $36.47 on Monday. The company’s 50-day simple moving average is $38.25 and its 200-day simple moving average is $41.39. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 28.94 and a beta of 1.44. Moelis & Company has a 52-week low of $33.12 and a 52-week high of $50.23.

Moelis & Company (NYSE:MC – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The asset manager reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.06). The business had revenue of $187.20 million during the quarter, compared to analysts’ expectations of $186.60 million. Moelis & Company had a return on equity of 22.47% and a net margin of 10.14%. The business’s quarterly revenue was down 38.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. Equities research analysts anticipate that Moelis & Company will post 0.45 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Monday, May 8th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Friday, May 5th. Moelis & Company’s dividend payout ratio (DPR) is presently 190.48%.

Insiders Place Their Bets

In related news, CEO Kenneth Moelis sold 45,507 shares of Moelis & Company stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $42.06, for a total value of $1,914,024.42. Following the completion of the transaction, the chief executive officer now owns 98,291 shares in the company, valued at $4,134,119.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Moelis & Company news, CEO Kenneth Moelis sold 45,507 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $42.06, for a total transaction of $1,914,024.42. Following the completion of the transaction, the chief executive officer now owns 98,291 shares in the company, valued at approximately $4,134,119.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Navid Mahmoodzadegan sold 52,209 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $43.22, for a total transaction of $2,256,472.98. Following the transaction, the insider now owns 177,192 shares of the company’s stock, valued at approximately $7,658,238.24. The disclosure for this sale can be found here. Insiders have sold 179,896 shares of company stock valued at $7,655,779 over the last ninety days. Company insiders own 7.97% of the company’s stock.

Moelis & Company Company Profile

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Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.