Townsquare Capital LLC Has $1.20 Million Stock Holdings in Moelis & Company (NYSE:MC)

Townsquare Capital LLC increased its position in Moelis & Company (NYSE:MC) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,602 shares of the asset manager’s stock after buying an additional 1,081 shares during the period. Townsquare Capital LLC’s holdings in Moelis & Company were worth $1,202,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MC. GAMMA Investing LLC boosted its stake in Moelis & Company by 38.9% during the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock valued at $95,000 after purchasing an additional 457 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in Moelis & Company by 29.4% during the 1st quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager’s stock valued at $4,067,000 after purchasing an additional 17,322 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company during the 1st quarter valued at about $334,000. Wealth Enhancement Advisory Services LLC boosted its stake in Moelis & Company by 64.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 253,658 shares of the asset manager’s stock valued at $14,803,000 after purchasing an additional 99,316 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Moelis & Company during the 1st quarter valued at about $3,331,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Up 1.9%

Shares of NYSE MC opened at $75.03 on Thursday. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The stock’s 50 day moving average price is $65.74 and its 200-day moving average price is $63.10. The company has a market capitalization of $5.89 billion, a PE ratio of 29.54 and a beta of 1.70.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. The company had revenue of $365.38 million for the quarter, compared to analysts’ expectations of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. Moelis & Company’s revenue was up 38.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, research analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 4th. Moelis & Company’s payout ratio is 102.36%.

Analyst Upgrades and Downgrades

MC has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. The Goldman Sachs Group lifted their price target on Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 24th. Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. Finally, JPMorgan Chase & Co. cut their target price on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.00.

Insider Activity at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of Moelis & Company stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the sale, the general counsel owned 131 shares of the company’s stock, valued at approximately $9,515.84. The trade was a 97.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.40% of the company’s stock.

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.