Kestra Private Wealth Services LLC Makes New Investment in Moelis & Company $MC

Kestra Private Wealth Services LLC bought a new stake in shares of Moelis & Company (NYSE:MC) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,503 shares of the asset manager’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Moelis & Company in the fourth quarter valued at about $27,000. Hantz Financial Services Inc. grew its holdings in Moelis & Company by 64.4% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP grew its holdings in Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. eCIO Inc. purchased a new position in Moelis & Company during the 4th quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC increased its position in Moelis & Company by 89.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 282 shares during the period. Institutional investors own 91.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MC shares. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. UBS Group reduced their price objective on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Morgan Stanley lowered their target price on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.89.

Moelis & Company Stock Performance

MC stock opened at $68.43 on Friday. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 0.82 and a beta of 1.85. The firm has a 50-day simple moving average of $66.51 and a two-hundred day simple moving average of $65.89. Moelis & Company has a one year low of $51.06 and a one year high of $78.22.

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

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, May 11th. Moelis & Company’s dividend payout ratio (DPR) is 93.53%.

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.