Victory Capital Management Inc. increased its stake in Moelis & Co. (NYSE:MC) by 17.6% during the second quarter, Holdings Channel reports. The firm owned 15,222 shares of the company’s stock after buying an additional 2,277 shares during the period. Victory Capital Management Inc. owned about 0.10% of Moelis & Co. worth $342,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MC. Legal & General Group Plc increased its stake in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock valued at $100,000 after buying an additional 1,630 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Moelis & Co. during the second quarter valued at about $222,000. Schonfeld Strategic Advisors LLC acquired a new stake in Moelis & Co. during the first quarter valued at about $577,000. Strs Ohio increased its stake in Moelis & Co. by 11.0% in the second quarter. Strs Ohio now owns 27,200 shares of the company’s stock valued at $612,000 after buying an additional 2,700 shares during the last quarter. Finally, Kleinwort Benson Investors Dublin Ltd acquired a new stake in Moelis & Co. during the second quarter valued at about $616,000. 84.45% of the stock is owned by institutional investors.
Shares of Moelis & Co. (NYSE:MC) traded up 2.71% during trading on Friday, reaching $26.89. The company’s stock had a trading volume of 97,001 shares. The firm has a market cap of $553.91 million, a P/E ratio of 16.02 and a beta of 1.73. The stock’s 50 day moving average is $26.39 and its 200 day moving average is $26.30. Moelis & Co. has a one year low of $21.91 and a one year high of $31.84.
Moelis & Co. (NYSE:MC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The firm earned $131.70 million during the quarter, compared to the consensus estimate of $131.44 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Moelis & Co. will post $1.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.20 annualized dividend and a yield of 4.46%. Moelis & Co.’s payout ratio is currently 81.53%.
MC has been the subject of several research reports. Morgan Stanley reissued a “buy” rating on shares of Moelis & Co. in a research report on Tuesday, June 7th. Credit Suisse Group AG reissued a “hold” rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. Finally, Zacks Investment Research raised shares of Moelis & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.78.
Moelis & Co. Company Profile
Moelis & Company is an investment banking advisory firm. 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. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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