Sierra Summit Advisors LLC Makes New Investment in Moelis & Company $MC

Sierra Summit Advisors LLC acquired a new stake in Moelis & Company (NYSE:MC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 11,561 shares of the asset manager’s stock, valued at approximately $720,000.

Other large investors also recently modified their holdings of the company. Versor Investments LP acquired a new stake in shares of Moelis & Company in the 1st quarter valued at about $1,432,000. Vanguard Group Inc. raised its stake in Moelis & Company by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager’s stock worth $484,720,000 after buying an additional 158,373 shares during the period. AE Wealth Management LLC acquired a new position in Moelis & Company during the 2nd quarter worth approximately $207,000. Goldman Sachs Group Inc. boosted its holdings in Moelis & Company by 32.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock worth $137,548,000 after acquiring an additional 579,529 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Moelis & Company by 14.9% in the first quarter. Deutsche Bank AG now owns 293,408 shares of the asset manager’s stock valued at $17,123,000 after acquiring an additional 37,964 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MC. Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price target 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. Morgan Stanley raised their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. BMO Capital Markets assumed coverage on Moelis & Company in a research report on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Moelis & Company in a research note on Wednesday. One investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.57.

Moelis & Company Trading Up 3.1%

Shares of MC opened at $62.75 on Friday. The stock has a 50 day moving average of $67.76 and a 200 day moving average of $66.30. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 20.98 and a beta of 1.80. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89.

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

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Monday, November 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is 86.96%.

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.