Hsbc Holdings PLC Acquires 29,180 Shares of Moelis & Company $MC

Hsbc Holdings PLC grew its holdings in shares of Moelis & Company (NYSE:MC) by 147.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 48,906 shares of the asset manager’s stock after acquiring an additional 29,180 shares during the period. Hsbc Holdings PLC owned about 0.06% of Moelis & Company worth $2,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Root Financial Partners LLC grew its position in shares of Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after buying an additional 339 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Moelis & Company in the fourth quarter worth approximately $27,000. Hantz Financial Services Inc. boosted its holdings in Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 163 shares during the last quarter. Allworth Financial LP raised its holdings in Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Finally, eCIO Inc. bought a new stake in shares of Moelis & Company in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Trading Up 2.1%

MC opened at $66.97 on Friday. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 0.85 and a beta of 1.85. The company’s fifty day moving average price is $66.95 and its two-hundred day moving average price is $65.57.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The business had revenue of $319.78 million for the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, May 11th were issued a dividend of $0.65 per share. The ex-dividend date was Monday, May 11th. This represents a $2.60 annualized dividend and a yield of 3.9%. Moelis & Company’s dividend payout ratio is 93.53%.

Wall Street Analysts Forecast Growth

MC has been the subject of a number of analyst reports. UBS Group reissued a “sell” rating and set a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Wall Street Zen cut shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods decreased their price target on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a report on Friday, July 10th. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and a consensus price target of $73.38.

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.