Geode Capital Management LLC Buys 424,138 Shares of Moelis & Company $MC

Geode Capital Management LLC grew its stake in Moelis & Company (NYSE:MC) by 26.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,052,862 shares of the asset manager’s stock after purchasing an additional 424,138 shares during the period. Geode Capital Management LLC owned about 2.62% of Moelis & Company worth $127,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MC. Charles Schwab Investment Management Inc. lifted its stake in shares of Moelis & Company by 214.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock valued at $171,713,000 after buying an additional 2,006,747 shares during the period. Goldman Sachs Group Inc. raised its holdings in Moelis & Company by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock valued at $137,548,000 after acquiring an additional 579,529 shares in the last quarter. Millennium Management LLC raised its holdings in Moelis & Company by 311.4% in the 1st quarter. Millennium Management LLC now owns 465,677 shares of the asset manager’s stock valued at $27,177,000 after acquiring an additional 352,490 shares in the last quarter. Nuveen LLC bought a new stake in shares of Moelis & Company in the 1st quarter worth approximately $19,561,000. Finally, Jennison Associates LLC grew its holdings in shares of Moelis & Company by 38.4% during the 2nd quarter. Jennison Associates LLC now owns 671,431 shares of the asset manager’s stock worth $41,844,000 after purchasing an additional 186,193 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. The trade was a 26.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MC. Zacks Research lowered Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Moelis & Company in a research report on Thursday, October 9th. They set a “buy” rating and a $80.00 target price on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Moelis & Company in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $71.57.

Moelis & Company Stock Up 0.6%

Shares of MC stock opened at $61.33 on Thursday. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The company has a market capitalization of $4.80 billion, a P/E ratio of 20.51 and a beta of 1.80. The firm has a 50-day moving average price of $68.29 and a 200 day moving average price of $66.17.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The firm had revenue of $356.89 million for the quarter, compared to analysts’ expectations of $336.14 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, research analysts expect that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is currently 86.96%.

About Moelis & Company

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.