Cramer Rosenthal Mcglynn LLC Acquires 45,458 Shares of Moelis & Company $MC

Cramer Rosenthal Mcglynn LLC increased its holdings in shares of Moelis & Company (NYSE:MC) by 23.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 240,796 shares of the asset manager’s stock after acquiring an additional 45,458 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.31% of Moelis & Company worth $17,174,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Azora Capital LP purchased a new stake in shares of Moelis & Company during the second quarter valued at $46,762,000. The Manufacturers Life Insurance Company grew its stake in Moelis & Company by 1,161.8% in the second quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after purchasing an additional 609,162 shares in the last quarter. Norges Bank purchased a new position in Moelis & Company during the 2nd quarter worth $31,248,000. Geode Capital Management LLC lifted its holdings in shares of Moelis & Company by 26.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,052,862 shares of the asset manager’s stock worth $127,947,000 after buying an additional 424,138 shares during the period. Finally, Tributary Capital Management LLC increased its stake in shares of Moelis & Company by 91.2% during the third quarter. Tributary Capital Management LLC now owns 793,600 shares of the asset manager’s stock valued at $56,600,000 after buying an additional 378,636 shares during the period. Institutional investors own 91.53% of the company’s stock.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $62.23, for a total value of $172,065.95. Following the sale, the general counsel directly owned 4,981 shares of the company’s stock, valued at approximately $309,967.63. This represents a 35.70% 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 link. 6.40% of the stock is owned by corporate insiders.

Moelis & Company Price Performance

Shares of MC opened at $58.19 on Friday. The firm has a market capitalization of $4.56 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.90. The company’s fifty day moving average price is $69.67 and its 200-day moving average price is $69.03. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $78.22.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, February 4th. The asset manager reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.37. The firm had revenue of $487.94 million during the quarter, compared to the consensus estimate of $430.17 million. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. As a group, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Moelis & Company’s dividend payout ratio (DPR) is 88.44%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Bank of America initiated coverage on shares of Moelis & Company in a research note on Monday, January 26th. They set a “neutral” rating and a $81.00 price objective on the stock. Keefe, Bruyette & Woods cut Moelis & Company from an “outperform” rating to a “market perform” rating and increased their target price for the company from $78.00 to $80.00 in a research report on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Moelis & Company from $80.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.33.

Moelis & 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.