Cornerstone Investment Partners LLC Purchases 1,675 Shares of Moelis & Company (NYSE:MC)

Cornerstone Investment Partners LLC increased its stake in shares of Moelis & Company (NYSE:MC) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,245 shares of the asset manager’s stock after buying an additional 1,675 shares during the period. Cornerstone Investment Partners LLC owned 0.06% of Moelis & Company worth $2,596,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Xponance Inc. acquired a new position in shares of Moelis & Company in the 4th quarter valued at approximately $228,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Moelis & Company by 32.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,337 shares of the asset manager’s stock worth $805,000 after acquiring an additional 3,538 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Moelis & Company during the 4th quarter worth approximately $237,000. Strs Ohio raised its holdings in shares of Moelis & Company by 25.0% in the fourth quarter. Strs Ohio now owns 4,500 shares of the asset manager’s stock valued at $252,000 after purchasing an additional 900 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Moelis & Company in the fourth quarter worth $1,875,000. 91.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. UBS Group cut their price objective on Moelis & Company from $46.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $56.00 target price on shares of Moelis & Company in a report on Monday, January 29th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average target price of $50.80.

Insider Buying and Selling

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 7,685 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $404,231.00. Following the sale, the general counsel now directly owns 6,000 shares of the company’s stock, valued at $315,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Joseph Simon sold 8,573 shares of Moelis & Company stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $54.13, for a total transaction of $464,056.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Osamu R. Watanabe sold 7,685 shares of Moelis & Company stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $404,231.00. Following the sale, the general counsel now owns 6,000 shares of the company’s stock, valued at approximately $315,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is owned by company insiders.

Moelis & Company Trading Up 1.4 %

Shares of MC traded up $0.70 on Friday, reaching $51.67. The company’s stock had a trading volume of 133,205 shares, compared to its average volume of 619,866. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $58.67. The stock has a market capitalization of $3.68 billion, a PE ratio of -144.28 and a beta of 1.35. The firm has a fifty day moving average of $54.49 and a 200-day moving average of $51.20.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The firm had revenue of $214.90 million during the quarter, compared to analyst estimates of $197.98 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Moelis & Company will post 1.5 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, February 20th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, February 16th. This represents a $2.40 annualized dividend and a dividend yield of 4.64%. Moelis & Company’s payout ratio is currently -666.67%.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.