Renaissance Technologies LLC Sells 76,444 Shares of Moelis & Company $MC

Renaissance Technologies LLC reduced its position in shares of Moelis & Company (NYSE:MC) by 25.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 219,500 shares of the asset manager’s stock after selling 76,444 shares during the quarter. Renaissance Technologies LLC owned about 0.28% of Moelis & Company worth $12,512,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MC. Hsbc Holdings PLC raised its holdings in Moelis & Company by 541.5% during the fourth quarter. Hsbc Holdings PLC now owns 19,726 shares of the asset manager’s stock worth $1,364,000 after buying an additional 16,651 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Moelis & Company by 11.0% during the fourth quarter. Natixis Advisors LLC now owns 1,019,832 shares of the asset manager’s stock valued at $70,103,000 after buying an additional 100,956 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Moelis & Company by 10.3% during the fourth quarter. HighTower Advisors LLC now owns 1,385,692 shares of the asset manager’s stock worth $95,253,000 after acquiring an additional 129,368 shares in the last quarter. Madison Asset Management LLC increased its position in shares of Moelis & Company by 45.6% during the first quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager’s stock worth $101,103,000 after acquiring an additional 555,557 shares in the last quarter. Finally, Capital Management Corp VA raised its holdings in shares of Moelis & Company by 35.2% in the 4th quarter. Capital Management Corp VA now owns 308,624 shares of the asset manager’s stock worth $21,215,000 after acquiring an additional 80,297 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Price Performance

NYSE MC opened at $67.08 on Friday. The business’s fifty day moving average is $67.25 and its 200-day moving average is $65.31. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 0.85 and a beta of 1.85. Moelis & Company has a one year low of $51.06 and a one year high of $78.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $409.39 million during the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.61%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts expect that Moelis & Company will post 3.13 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, August 10th. This represents a $2.60 annualized dividend and a dividend yield of 3.9%. Moelis & Company’s dividend payout ratio (DPR) is presently 90.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research raised shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen raised Moelis & Company from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group reissued a “sell” rating and issued a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods dropped their target price on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.62.

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.