Belpointe Asset Management LLC acquired a new position in shares of Moelis & Company (NYSE:MC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,470 shares of the asset manager’s stock, valued at approximately $197,000.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Moelis & Company by 3.1% in the 1st quarter. BlackRock Inc. now owns 4,796,648 shares of the asset manager’s stock valued at $263,241,000 after acquiring an additional 143,216 shares during the last quarter. Timucuan Asset Management Inc. FL raised its holdings in Moelis & Company by 1.6% in the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,019,588 shares of the asset manager’s stock valued at $110,835,000 after acquiring an additional 31,899 shares during the last quarter. Federated Hermes Inc. raised its holdings in Moelis & Company by 22.2% in the 1st quarter. Federated Hermes Inc. now owns 1,667,483 shares of the asset manager’s stock valued at $91,511,000 after acquiring an additional 302,483 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Moelis & Company by 123.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,358,227 shares of the asset manager’s stock valued at $74,539,000 after acquiring an additional 749,830 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in Moelis & Company by 6.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,163,449 shares of the asset manager’s stock valued at $63,850,000 after acquiring an additional 73,000 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.
MC stock opened at $61.67 on Wednesday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 13.18 and a beta of 1.21. The business has a fifty day simple moving average of $59.54 and a 200-day simple moving average of $56.36. Moelis & Company has a 52 week low of $32.31 and a 52 week high of $63.92.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Monday, August 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.89%. This is a boost from Moelis & Company’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, July 30th. Moelis & Company’s dividend payout ratio is 82.47%.
Several brokerages have weighed in on MC. Zacks Investment Research downgraded Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, June 9th. Morgan Stanley boosted their price target on Moelis & Company from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, July 22nd. Finally, Wolfe Research upgraded Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price objective for the company in a report on Thursday, June 17th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.00.
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.
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