Public Sector Pension Investment Board Buys 36,431 Shares of Moelis & Company $MC

Public Sector Pension Investment Board increased its stake in Moelis & Company (NYSE:MC) by 14.4% during the third quarter, HoldingsChannel reports. The firm owned 289,371 shares of the asset manager’s stock after acquiring an additional 36,431 shares during the period. Public Sector Pension Investment Board’s holdings in Moelis & Company were worth $20,638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund grew its holdings in Moelis & Company by 1.4% during the third quarter. Illinois Municipal Retirement Fund now owns 38,134 shares of the asset manager’s stock valued at $2,720,000 after purchasing an additional 525 shares during the period. MQS Management LLC purchased a new position in shares of Moelis & Company during the 3rd quarter valued at $372,000. Versor Investments LP bought a new position in shares of Moelis & Company during the 3rd quarter worth $735,000. Oppenheimer Asset Management Inc. grew its stake in shares of Moelis & Company by 21.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 53,115 shares of the asset manager’s stock worth $3,788,000 after acquiring an additional 9,512 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Moelis & Company by 16.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,865 shares of the asset manager’s stock worth $135,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

MC has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. UBS Group boosted their price target on shares of Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Morgan Stanley upped their price target on shares of Moelis & Company from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. Finally, Bank of America assumed coverage on Moelis & Company in a research report on Monday, January 26th. They set a “neutral” rating and a $81.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.33.

Moelis & Company Trading Up 1.7%

Shares of NYSE:MC opened at $65.94 on Friday. The company has a 50 day moving average of $71.98 and a 200 day moving average of $69.94. The stock has a market cap of $5.16 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.70 and a beta of 1.87. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $78.57.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $1.13 EPS for the quarter, beating the consensus estimate of $0.76 by $0.37. The firm had revenue of $487.94 million during the quarter, compared to the consensus estimate of $430.17 million. Moelis & Company had a net margin of 15.36% and a return on equity of 43.19%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. On average, equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, February 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, February 17th. Moelis & Company’s payout ratio is presently 88.44%.

About Moelis & Company

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.