Junto Capital Management LP Purchases New Position in Moelis & Company $MC

Junto Capital Management LP purchased a new stake in Moelis & Company (NYSE:MC) during the second quarter, Holdings Channel reports. The firm purchased 481,954 shares of the asset manager’s stock, valued at approximately $31,529,000.

Other hedge funds have also recently bought and sold shares of the company. Allied Private Wealth LLC bought a new position in shares of Moelis & Company during the second quarter valued at $25,000. Root Financial Partners LLC increased its position in shares of Moelis & Company by 292.2% during the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock worth $26,000 after purchasing an additional 339 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Moelis & Company by 64.4% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP lifted its holdings in Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 254 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Moelis & Company by 89.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 282 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Friday, August 21st. UBS Group reiterated a “sell” rating and issued a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Morgan Stanley boosted their target price on Moelis & Company from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Zacks Research upgraded Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.62.

Insider Activity at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 4,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total value of $336,105.00. Following the completion of the transaction, the general counsel owned 131 shares in the company, valued at $9,078.30. The trade was a 97.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kenneth Shropshire sold 1,881 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the transaction, the director directly owned 7,633 shares in the company, valued at approximately $527,134.98. This represents a 19.77% decrease in their position. The SEC filing for this sale provides additional information. 6.29% of the stock is owned by corporate insiders.

Moelis & Company Stock Down 4.9%

Moelis & Company stock opened at $65.43 on Thursday. The stock has a 50-day simple moving average of $67.53 and a 200 day simple moving average of $64.48. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 0.90 and a beta of 1.84.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $409.39 million for the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that Moelis & Company will post 3.09 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Monday, August 10th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 10th. Moelis & Company’s dividend payout ratio is presently 90.59%.

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. 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.