Louisiana State Employees Retirement System Purchases New Holdings in Moelis & Company $MC

Louisiana State Employees Retirement System purchased a new stake in Moelis & Company (NYSE:MC) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 32,800 shares of the asset manager’s stock, valued at approximately $1,870,000.

Several other institutional investors have also recently made changes to their positions in MC. V Square Quantitative Management LLC acquired a new stake in shares of Moelis & Company in the 4th quarter valued at approximately $27,000. Hantz Financial Services Inc. increased its holdings in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after buying an additional 163 shares during the last quarter. Allworth Financial LP increased its holdings in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after buying an additional 254 shares during the last quarter. eCIO Inc. bought a new stake in Moelis & Company during the fourth quarter worth $33,000. Finally, EverSource Wealth Advisors LLC raised its position in Moelis & Company by 89.5% during the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after acquiring an additional 282 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Price Performance

NYSE:MC opened at $65.43 on Wednesday. The company has a market cap of $5.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 0.75 and a beta of 1.85. The firm’s fifty day moving average price is $66.53 and its two-hundred day moving average price is $65.92. Moelis & Company has a one year low of $51.06 and a one year high of $78.22.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The company had revenue of $319.78 million for the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities research analysts expect that Moelis & Company will post 3.17 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were given a dividend of $0.65 per share. The ex-dividend date was Monday, May 11th. This represents a $2.60 annualized dividend and a yield of 4.0%. Moelis & Company’s dividend payout ratio (DPR) is 93.53%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group cut their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research downgraded shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 5th. Morgan Stanley reduced their price target on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, UBS Group lowered their price target on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $71.89.

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.