Moelis & Co (MC) Shares Bought by BlackRock Inc.

BlackRock Inc. increased its stake in Moelis & Co (NYSE:MC) by 46.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,351,438 shares of the asset manager’s stock after purchasing an additional 1,694,763 shares during the quarter. BlackRock Inc. owned 9.53% of Moelis & Co worth $313,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Moelis & Co by 543.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,952,664 shares of the asset manager’s stock valued at $251,843,000 after purchasing an additional 4,182,512 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Moelis & Co by 9.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,583,631 shares of the asset manager’s stock valued at $80,528,000 after purchasing an additional 135,821 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Moelis & Co by 14.8% in the 2nd quarter. Jennison Associates LLC now owns 1,362,542 shares of the asset manager’s stock valued at $79,913,000 after purchasing an additional 175,631 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Moelis & Co by 556.9% in the 1st quarter. Wells Fargo & Company MN now owns 1,005,203 shares of the asset manager’s stock valued at $51,115,000 after purchasing an additional 852,188 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Moelis & Co by 4,197.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 822,823 shares of the asset manager’s stock valued at $48,257,000 after purchasing an additional 803,678 shares in the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.

NYSE:MC opened at $56.00 on Friday. Moelis & Co has a twelve month low of $40.10 and a twelve month high of $67.65. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 24.45 and a beta of 1.67.

Moelis & Co (NYSE:MC) last posted its earnings results on Monday, July 23rd. The asset manager reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.21. Moelis & Co had a net margin of 8.14% and a return on equity of 50.56%. The firm had revenue of $220.41 million during the quarter, compared to the consensus estimate of $183.64 million. During the same period last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. equities research analysts anticipate that Moelis & Co will post 2.76 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Thursday, August 2nd were issued a dividend of $0.47 per share. The ex-dividend date was Wednesday, August 1st. This represents a $1.88 annualized dividend and a yield of 3.36%. Moelis & Co’s dividend payout ratio (DPR) is currently 82.10%.

In other Moelis & Co news, Director Kenneth Shropshire sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $57.85, for a total transaction of $86,775.00. Following the completion of the transaction, the director now directly owns 4,968 shares in the company, valued at approximately $287,398.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.91% of the company’s stock.

A number of brokerages have recently issued reports on MC. Zacks Investment Research downgraded shares of Moelis & Co from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. Buckingham Research increased their price target on shares of Moelis & Co from $60.00 to $69.00 and gave the company a “buy” rating in a report on Monday, June 4th. ValuEngine downgraded shares of Moelis & Co from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Bank of America raised their target price on shares of Moelis & Co from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Finally, Morgan Stanley downgraded shares of Moelis & Co from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a report on Thursday, June 21st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Moelis & Co has an average rating of “Buy” and an average price target of $62.17.

About Moelis & Co

Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.

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Institutional Ownership by Quarter for Moelis & Co (NYSE:MC)

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