Moelis & Company $MC Shares Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its position in Moelis & Company (NYSE:MC) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,700 shares of the asset manager’s stock after buying an additional 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Moelis & Company were worth $2,163,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after buying an additional 457 shares in the last quarter. Versor Investments LP acquired a new position in Moelis & Company in the 1st quarter worth $1,432,000. Diversify Wealth Management LLC lifted its holdings in Moelis & Company by 29.4% in the 1st quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager’s stock worth $4,067,000 after buying an additional 17,322 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company in the 1st quarter worth $334,000. Finally, Vanguard Group Inc. lifted its holdings in Moelis & Company by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager’s stock worth $484,720,000 after buying an additional 158,373 shares in the last quarter. Institutional investors and hedge funds 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 company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the transaction, the director owned 7,109 shares in the company, valued at approximately $515,544.68. This represents a 26.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Osamu R. Watanabe sold 6,340 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the completion of the transaction, the general counsel owned 131 shares of the company’s stock, valued at approximately $9,515.84. This trade represents a 97.98% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Moelis & Company Stock Down 4.0%

Shares of NYSE:MC opened at $63.03 on Friday. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The firm has a 50-day simple moving average of $71.65 and a 200 day simple moving average of $63.63. The company has a market cap of $4.95 billion, a PE ratio of 24.82 and a beta of 1.77.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The business had revenue of $365.38 million during the quarter, compared to the consensus estimate of $269.57 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. As a group, research analysts forecast that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Monday, August 4th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 4th. Moelis & Company’s dividend payout ratio is currently 102.36%.

Wall Street Analyst Weigh In

MC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Moelis & Company in a report on Thursday. They issued a “buy” rating and a $80.00 price objective on the stock. BMO Capital Markets began coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday. Morgan Stanley upped their target price on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company upped their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.14.

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.