Janney Montgomery Scott LLC Has $2.83 Million Stock Position in Moelis & Company $MC

Janney Montgomery Scott LLC increased its position in shares of Moelis & Company (NYSE:MC) by 58.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,620 shares of the asset manager’s stock after buying an additional 18,391 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Moelis & Company were worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wasatch Advisors LP lifted its position in Moelis & Company by 9.0% during the 1st quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock worth $213,330,000 after acquiring an additional 310,001 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Moelis & Company by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock worth $219,588,000 after purchasing an additional 66,697 shares during the last quarter. State Street Corp boosted its stake in Moelis & Company by 3.2% during the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock valued at $178,381,000 after purchasing an additional 89,143 shares during the period. Ameriprise Financial Inc. boosted its stake in Moelis & Company by 6.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock valued at $149,333,000 after purchasing an additional 135,885 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Moelis & Company by 5.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock valued at $128,989,000 after purchasing an additional 89,365 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 8th. Weiss Ratings cut Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. UBS Group lowered their price objective on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Zacks Research lowered shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Finally, Morgan Stanley cut their target price on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.89.

Moelis & Company Stock Down 3.0%

Moelis & Company stock opened at $69.81 on Wednesday. The business has a 50 day moving average price of $66.64 and a two-hundred day moving average price of $65.89. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85. Moelis & Company has a 12 month low of $51.06 and a 12 month high of $78.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm 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%.Moelis & Company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, analysts expect that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a dividend of $0.65 per share. The ex-dividend date was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a yield of 3.7%. Moelis & Company’s payout ratio is currently 93.53%.

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.