Kennedy Capital Management Inc. Has $4.80 Million Stake in Moelis & Company (MC)
Kennedy Capital Management Inc. trimmed its holdings in shares of Moelis & Company (NYSE:MC) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,577 shares of the asset manager’s stock after selling 4,112 shares during the period. Kennedy Capital Management Inc. owned about 0.45% of Moelis & worth $4,801,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of MC. Ffcm LLC purchased a new position in Moelis & in the 2nd quarter valued at approximately $112,000. BNP Paribas Arbitrage SA increased its stake in Moelis & by 594.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock valued at $116,000 after purchasing an additional 2,549 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Moelis & by 11.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock valued at $117,000 after purchasing an additional 315 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Moelis & in the 2nd quarter valued at approximately $130,000. Finally, Nisa Investment Advisors LLC purchased a new position in Moelis & in the 2nd quarter valued at approximately $144,000. 90.82% of the stock is owned by institutional investors and hedge funds.
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MC has been the subject of several research analyst reports. Zacks Investment Research raised Moelis & from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective for the company in a research note on Friday, July 28th. ValuEngine raised Moelis & from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Morgan Stanley raised their price objective on Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. BidaskClub raised Moelis & from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation raised their price objective on Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Four 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 stock. Moelis & presently has an average rating of “Buy” and an average price target of $39.22.
Moelis & Company (MC) opened at 40.40 on Friday. The stock has a market cap of $1.11 billion, a P/E ratio of 18.69 and a beta of 1.88. The firm’s 50-day moving average price is $39.37 and its 200 day moving average price is $38.21. Moelis & Company has a 52-week low of $23.60 and a 52-week high of $44.85.
Moelis & (NYSE:MC) last released its earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.15. The firm had revenue of $172.10 million during the quarter, compared to the consensus estimate of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities analysts predict that Moelis & Company will post $2.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.66%. Moelis &’s dividend payout ratio is currently 74.00%.
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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