Assenagon Asset Management S.A. Has $4.66 Million Position in Moelis & Company (NYSE:MC)

Assenagon Asset Management S.A. reduced its stake in shares of Moelis & Company (NYSE:MC) by 89.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 79,764 shares of the asset manager’s stock after selling 689,181 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Moelis & Company were worth $4,655,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MC. Rhumbline Advisers raised its stake in Moelis & Company by 1.0% during the fourth quarter. Rhumbline Advisers now owns 195,814 shares of the asset manager’s stock worth $14,467,000 after acquiring an additional 1,954 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Moelis & Company by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 344,467 shares of the asset manager’s stock worth $25,449,000 after purchasing an additional 11,097 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Moelis & Company by 8.0% during the fourth quarter. CIBC Asset Management Inc now owns 4,405 shares of the asset manager’s stock worth $325,000 after purchasing an additional 325 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Moelis & Company during the fourth quarter worth $146,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of Moelis & Company by 35.7% during the fourth quarter. Handelsbanken Fonder AB now owns 15,951 shares of the asset manager’s stock worth $1,178,000 after purchasing an additional 4,200 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Down 5.2%

Moelis & Company stock opened at $55.86 on Monday. The business’s 50-day simple moving average is $55.45 and its 200 day simple moving average is $65.32. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 31.74 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million for the quarter, compared to analysts’ expectations of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The firm’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. As a group, sell-side analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date is Monday, May 5th. Moelis & Company’s dividend payout ratio (DPR) is currently 119.27%.

Analyst Upgrades and Downgrades

MC has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 24th. The Goldman Sachs Group increased their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Finally, Wall Street Zen cut Moelis & Company from a “buy” rating to a “hold” rating in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.83.

Moelis & Company Profile

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.