Mirae Asset Global Investments Co. Ltd. Purchases New Position in Moelis & Company $MC

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Moelis & Company (NYSE:MC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,599 shares of the asset manager’s stock, valued at approximately $4,061,000.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC raised its stake in Moelis & Company by 2.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 44,976 shares of the asset manager’s stock worth $2,587,000 after acquiring an additional 1,128 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Moelis & Company by 6.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,709 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 270 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Moelis & Company by 840.4% in the third quarter. Sterling Capital Management LLC now owns 2,492 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 2,227 shares in the last quarter. Root Financial Partners LLC acquired a new position in Moelis & Company in the third quarter valued at $41,000. Finally, Novem Group boosted its stake in Moelis & Company by 4.4% in the third quarter. Novem Group now owns 16,548 shares of the asset manager’s stock valued at $952,000 after acquiring an additional 690 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 1,881 shares of Moelis & Company stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the transaction, the director directly owned 7,633 shares in the company, valued at approximately $527,134.98. This trade represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.29% of the company’s stock.

Moelis & Company Price Performance

Shares of NYSE:MC traded down $1.69 on Friday, reaching $56.69. The company’s stock had a trading volume of 1,479,972 shares, compared to its average volume of 1,098,888. Moelis & Company has a 52-week low of $51.06 and a 52-week high of $78.22. The stock has a market capitalization of $4.44 billion, a P/E ratio of 19.28, a PEG ratio of 2.57 and a beta of 1.87. The stock’s 50-day moving average is $59.35 and its two-hundred day moving average is $63.68.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Thursday, November 5th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%. The firm had revenue of $425.58 million for the quarter, compared to analyst estimates of $434.17 million. During the same quarter last year, the company posted $0.68 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. Equities analysts forecast that Moelis & Company will post 3.01 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Monday, November 16th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, November 16th. Moelis & Company’s dividend payout ratio (DPR) is presently 90.59%.

Moelis & Company News Summary

Here are the key news stories impacting Moelis & Company this week:

• Positive Sentiment: Moelis reported Q3 EPS of $0.75, above the $0.72 consensus estimate, while revenue increased 19.2% year over year. Moelis Q3 Earnings Beat Estimates
• Positive Sentiment: Management said its pipeline was up about 20% year over year, a potential signal of stronger future advisory activity and revenue. Moelis pipeline and expense outlook
• Positive Sentiment: A valuation article estimates 31% upside to fair value, offering a bullish view on the shares; this is an external valuation assessment, not company guidance. Moelis stock fair-value assessment
• Positive Sentiment: The company declared a regular quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a stated yield of about 4.5%. Moelis Q3 results and dividend announcement
• Negative Sentiment: Q3 revenue of $425.58 million missed analysts’ $434.17 million estimate, a shortfall that may offset the EPS beat. Moelis misses Q3 revenue estimates
• Negative Sentiment: Moelis expects full-year non-compensation expenses to rise 19%. Higher costs could constrain earnings or margins even as the pipeline grows. Moelis pipeline and expense outlook

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised Moelis & Company from a “hold” rating to a “moderate buy” rating in a report on Wednesday, October 7th. The Goldman Sachs Group reduced their target price on Moelis & Company from $71.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. UBS Group raised Moelis & Company from a “sell” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $59.00 in a research report on Wednesday, October 7th. Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 16th. Finally, Morgan Stanley dropped their price target on Moelis & Company from $85.00 to $77.00 and set an “overweight” rating on the stock in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $68.83.

About Moelis & Company

Moelis & Company (NYSE: MC) is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.