Sierra Summit Advisors LLC Purchases New Position in Moelis & Company $MC

Sierra Summit Advisors LLC purchased a new stake in shares of Moelis & Company (NYSE:MC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,686 shares of the asset manager’s stock, valued at approximately $872,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Moelis & Company during the fourth quarter valued at about $27,000. Bessemer Group Inc. increased its position in shares of Moelis & Company by 89.8% during the third quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock valued at $28,000 after buying an additional 184 shares during the period. Allworth Financial LP increased its position in shares of Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after buying an additional 254 shares during the period. eCIO Inc. purchased a new position in shares of Moelis & Company during the fourth quarter valued at about $33,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Moelis & Company by 89.5% during the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

NYSE:MC opened at $64.18 on Thursday. Moelis & Company has a one year low of $51.06 and a one year high of $78.22. The company’s 50-day simple moving average is $60.95 and its 200 day simple moving average is $65.30. The firm has a market capitalization of $5.04 billion, a P/E ratio of 23.09, a PEG ratio of 0.74 and a beta of 1.87.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The business had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. During the same period in the previous year, the firm earned $0.64 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Moelis & Company will post 3.2 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, May 11th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.60 annualized dividend and a yield of 4.1%. Moelis & Company’s payout ratio is presently 93.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MC shares. Zacks Research cut shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. UBS Group reduced their price target on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Bank of America assumed coverage on shares of Moelis & Company in a research report on Monday, January 26th. They set a “neutral” rating and a $81.00 price target on the stock. The Goldman Sachs Group dropped their price objective on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Moelis & Company in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average price target of $71.89.

Moelis & Company 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.