Y Intercept Hong Kong Ltd Invests $3.98 Million in Moelis & Company $MC

Y Intercept Hong Kong Ltd bought a new stake in shares of Moelis & Company (NYSE:MC) in the first quarter, Holdings Channel reports. The institutional investor bought 69,769 shares of the asset manager’s stock, valued at approximately $3,977,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MC. Balyasny Asset Management L.P. bought a new stake in Moelis & Company in the fourth quarter worth $60,857,000. Norges Bank bought a new position in Moelis & Company during the fourth quarter valued at $42,919,000. The Manufacturers Life Insurance Company lifted its position in Moelis & Company by 1,161.8% during the second quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock valued at $41,231,000 after purchasing an additional 609,162 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Moelis & Company by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after buying an additional 458,575 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Moelis & Company in the 1st quarter worth $21,701,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Stock Down 0.2%

Shares of Moelis & Company stock opened at $68.43 on Monday. The stock’s fifty day moving average is $66.51 and its two-hundred day moving average is $65.87. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22. The company has a market capitalization of $5.38 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 0.82 and a beta of 1.85.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 earnings per share. As a group, research analysts anticipate that Moelis & Company will post 3.17 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.8%. Moelis & Company’s dividend payout ratio (DPR) is presently 93.53%.

Analyst Ratings Changes

MC has been the topic of a number of research reports. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Morgan Stanley dropped their price target 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 on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods reduced their price objective on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 8th. Finally, Zacks Research downgraded Moelis & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.