PARK CIRCLE Co Continues to Hold Stake in Moelis & Company (MC)
PARK CIRCLE Co continued to hold its position in shares of Moelis & Company (NYSE:MC) during the second quarter, according to its most recent filing with the SEC. The firm owned 25,376 shares of the asset manager’s stock at the end of the second quarter. PARK CIRCLE Co owned 0.09% of Moelis & worth $986,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of MC. Deprince Race & Zollo Inc. acquired a new position in shares of Moelis & during the first quarter valued at about $39,733,000. Russell Investments Group Ltd. increased its position in shares of Moelis & by 2,701.1% in the first quarter. Russell Investments Group Ltd. now owns 566,075 shares of the asset manager’s stock valued at $21,794,000 after buying an additional 545,866 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Moelis & by 31.1% in the first quarter. Vanguard Group Inc. now owns 1,920,061 shares of the asset manager’s stock valued at $73,923,000 after buying an additional 455,098 shares in the last quarter. Rothschild Asset Management Inc. acquired a new position in shares of Moelis & during the first quarter valued at about $11,942,000. Finally, JPMorgan Chase & Co. increased its position in shares of Moelis & by 23.3% in the first quarter. JPMorgan Chase & Co. now owns 1,546,458 shares of the asset manager’s stock valued at $59,539,000 after buying an additional 292,662 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.
Shares of Moelis & Company (NYSE MC) opened at 39.45 on Tuesday. Moelis & Company has a 52-week low of $23.60 and a 52-week high of $44.85. The firm has a market capitalization of $1.09 billion, a P/E ratio of 18.25 and a beta of 1.87. The firm has a 50-day moving average price of $39.75 and a 200-day moving average price of $38.01.
Moelis & (NYSE:MC) last announced its quarterly earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. Moelis & had a net margin of 8.50% and a return on equity of 52.98%. The firm had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $156.85 million. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was up 30.7% on a year-over-year basis. On average, equities research analysts anticipate that Moelis & Company will post $2.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Tuesday, August 1st. Moelis &’s dividend payout ratio (DPR) is currently 74.00%.
Several equities analysts have recently issued reports on MC shares. Keefe, Bruyette & Woods upgraded Moelis & to a “hold” rating and set a $39.00 price objective for the company in a research report on Thursday, May 4th. ValuEngine upgraded Moelis & from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Zacks Investment Research downgraded Moelis & from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation boosted their price objective on Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Finally, UBS AG restated a “neutral” rating and issued a $42.00 target price (up from $40.00) on shares of Moelis & in a research report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Moelis & has an average rating of “Buy” and an average price target of $39.22.
Moelis & Company Profile
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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