State of Alaska Department of Revenue Boosts Stake in Moelis & Company $MC

State of Alaska Department of Revenue lifted its holdings in Moelis & Company (NYSE:MC) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,466 shares of the asset manager’s stock after purchasing an additional 10,098 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Moelis & Company worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Wasatch Advisors LP raised its stake in shares of Moelis & Company by 16.1% in the third quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after purchasing an additional 458,575 shares during the last quarter. State Street Corp raised its stake in shares of Moelis & Company by 3.2% in the second quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock worth $178,381,000 after purchasing an additional 89,143 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Moelis & Company by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock worth $149,333,000 after purchasing an additional 135,885 shares during the last quarter. HighTower Advisors LLC increased its position in Moelis & Company by 18.5% during the third quarter. HighTower Advisors LLC now owns 1,256,324 shares of the asset manager’s stock valued at $89,601,000 after acquiring an additional 196,030 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Moelis & Company by 6.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,111,459 shares of the asset manager’s stock valued at $79,273,000 after acquiring an additional 70,864 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Buying and Selling at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 2,765 shares of Moelis & Company 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 transaction, the general counsel directly owned 4,981 shares of the company’s stock, valued at $309,967.63. The trade was a 35.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.

Moelis & Company Stock Performance

NYSE:MC opened at $67.19 on Friday. The stock has a 50-day simple moving average of $59.87 and a two-hundred day simple moving average of $65.71. Moelis & Company has a 52-week low of $48.96 and a 52-week high of $78.22. The firm has a market capitalization of $5.22 billion, a PE ratio of 22.85, a P/E/G ratio of 0.76 and a beta of 1.87.

Moelis & Company (NYSE:MC) last released its quarterly earnings results 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 business had revenue of $487.94 million during the quarter, compared to analyst estimates of $430.17 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. Moelis & Company’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, February 17th. Moelis & Company’s payout ratio is presently 88.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MC. JPMorgan Chase & Co. upped their price objective on Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. The Goldman Sachs Group reduced their price objective on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Morgan Stanley reduced their price objective on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. UBS Group reduced their price objective on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.89.

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.