VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.05 Million in Moelis & Company $MC

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Moelis & Company (NYSE:MC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,700 shares of the asset manager’s stock, valued at approximately $1,048,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Moelis & Company by 89.5% in the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after purchasing an additional 282 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Moelis & Company by 44.0% during the 3rd quarter. Private Trust Co. NA now owns 599 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 183 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Moelis & Company in the 1st quarter worth $50,000. Canton Hathaway LLC purchased a new position in Moelis & Company during the 2nd quarter worth $51,000. Finally, Neo Ivy Capital Management purchased a new position in Moelis & Company during the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MC shares. Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price target for the company. Keefe, Bruyette & Woods downgraded shares of Moelis & Company from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $78.00 to $80.00 in a report on Tuesday, December 16th. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $71.63.

Moelis & Company Stock Up 3.6%

Shares of NYSE:MC opened at $71.21 on Friday. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.58 and a beta of 1.85. The business has a 50-day moving average price of $66.55 and a 200-day moving average price of $68.49.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results 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. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The company 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 company earned $0.22 EPS. Moelis & Company’s quarterly revenue was up 30.4% on a year-over-year basis. As a group, equities analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 10th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 10th. Moelis & Company’s dividend payout ratio is 86.96%.

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. 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.