Moelis & Company (NYSE:MC) Sees Large Increase in Short Interest

Moelis & Company (NYSE:MC) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 5,369,930 shares, a growth of 19.8% from the February 12th total of 4,484,251 shares. Approximately 7.3% of the company’s stock are short sold. Based on an average trading volume of 1,378,278 shares, the days-to-cover ratio is presently 3.9 days. Based on an average trading volume of 1,378,278 shares, the days-to-cover ratio is presently 3.9 days. Approximately 7.3% of the company’s stock are short sold.

Analysts Set New Price Targets

MC has been the topic of a number of recent research reports. Bank of America initiated coverage on Moelis & Company in a research report on Monday, January 26th. They issued a “neutral” rating and a $81.00 target price on the stock. The Goldman Sachs Group decreased their price target on Moelis & Company from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on Moelis & Company from $80.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. UBS Group cut their price objective on Moelis & Company from $74.00 to $59.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Finally, Morgan Stanley raised their target price on shares of Moelis & Company from $89.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.44.

Moelis & Company Stock Performance

Moelis & Company stock traded up $0.82 during midday trading on Wednesday, reaching $54.05. 528,180 shares of the company’s stock were exchanged, compared to its average volume of 1,164,820. The stock’s 50-day simple moving average is $66.78 and its 200 day simple moving average is $67.96. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.56 and a beta of 1.90. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $78.22.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.37. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.The firm had revenue of $487.94 million for the quarter, compared to analyst estimates of $430.17 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts forecast that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, February 17th. Moelis & Company’s dividend payout ratio (DPR) is currently 88.44%.

Insider Buying and Selling

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $62.23, for a total transaction of $172,065.95. Following the completion of the transaction, the general counsel owned 4,981 shares in the company, valued at approximately $309,967.63. This represents a 35.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. acquired a new position in Moelis & Company in the 3rd quarter valued at $6,105,000. AE Wealth Management LLC acquired a new stake in shares of Moelis & Company during the 2nd quarter worth $207,000. JPMorgan Chase & Co. increased its position in shares of Moelis & Company by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 962,778 shares of the asset manager’s stock worth $68,665,000 after purchasing an additional 17,220 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Moelis & Company by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 354,658 shares of the asset manager’s stock valued at $23,691,000 after purchasing an additional 17,740 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Moelis & Company by 354.1% in the third quarter. AlphaQuest LLC now owns 42,789 shares of the asset manager’s stock valued at $3,052,000 after purchasing an additional 33,367 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Moelis & Company

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.