Hsbc Holdings PLC Acquires 29,180 Shares of Moelis & Company $MC

Hsbc Holdings PLC grew its holdings in shares of Moelis & Company (NYSE:MC) by 147.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,906 shares of the asset manager’s stock after purchasing an additional 29,180 shares during the quarter. Hsbc Holdings PLC’s holdings in Moelis & Company were worth $2,767,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MC. HighTower Advisors LLC increased its position in Moelis & Company by 10.3% in the fourth quarter. HighTower Advisors LLC now owns 1,385,692 shares of the asset manager’s stock worth $95,253,000 after buying an additional 129,368 shares during the last quarter. Natixis Advisors LLC increased its holdings in Moelis & Company by 11.0% in the 4th quarter. Natixis Advisors LLC now owns 1,019,832 shares of the asset manager’s stock worth $70,103,000 after acquiring an additional 100,956 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Moelis & Company by 714.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 182,147 shares of the asset manager’s stock worth $12,521,000 after acquiring an additional 159,779 shares during the last quarter. Capital Management Corp VA raised its stake in Moelis & Company by 35.2% in the 4th quarter. Capital Management Corp VA now owns 308,624 shares of the asset manager’s stock valued at $21,215,000 after acquiring an additional 80,297 shares during the period. Finally, New Age Alpha Advisors LLC lifted its holdings in Moelis & Company by 3,278.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 60,908 shares of the asset manager’s stock valued at $4,187,000 after purchasing an additional 59,105 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

NYSE MC opened at $66.97 on Friday. The company has a fifty day moving average of $66.95 and a 200-day moving average of $65.57. Moelis & Company has a 52-week low of $51.06 and a 52-week high of $78.22. The company has a market capitalization of $5.26 billion, a P/E ratio of 24.09, a P/E/G ratio of 0.85 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. Moelis & Company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. As a group, analysts forecast that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, May 11th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. Moelis & Company’s dividend payout ratio (DPR) is currently 93.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MC shares. Wall Street Zen downgraded shares of Moelis & Company from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group dropped their target price on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods cut their price target on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.38.

Moelis & Company 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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.