Savant Capital LLC Acquires 14,610 Shares of Moelis & Company $MC

Savant Capital LLC boosted its holdings in shares of Moelis & Company (NYSE:MC) by 261.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,199 shares of the asset manager’s stock after buying an additional 14,610 shares during the quarter. Savant Capital LLC’s holdings in Moelis & Company were worth $1,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MC. eCIO Inc. bought a new position in shares of Moelis & Company during the 1st quarter worth approximately $50,000. Canton Hathaway LLC acquired a new stake in Moelis & Company during the 2nd quarter valued at $51,000. New Age Alpha Advisors LLC bought a new position in Moelis & Company during the first quarter worth $107,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Moelis & Company during the first quarter worth $124,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Moelis & Company by 10.1% in the second quarter. Nisa Investment Advisors LLC now owns 3,241 shares of the asset manager’s stock valued at $202,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Trading Up 2.1%

Shares of MC opened at $65.28 on Thursday. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The firm’s 50 day moving average is $69.31 and its 200-day moving average is $65.89. The stock has a market capitalization of $5.11 billion, a PE ratio of 21.83 and a beta of 1.80.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 47.11% and a net margin of 15.98%.The business had revenue of $356.89 million for the quarter, compared to the consensus estimate of $336.14 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. Equities research analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio is 86.96%.

Insider Activity

In related news, Director Kenneth Shropshire sold 2,615 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares in the company, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MC shares. Morgan Stanley raised their target price on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods cut their price objective on shares of Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Moelis & Company in a research report on Thursday, October 9th. They issued a “buy” rating and a $80.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Finally, Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and an average price target of $71.57.

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.