Naples Global Advisors LLC Increases Position in Moelis & Company (NYSE:MC)

Posted by Defense World Staff on Mar 30th, 2023

Naples Global Advisors LLC lifted its holdings in Moelis & Company (NYSE:MC – Get Rating) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,191 shares of the asset manager’s stock after purchasing an additional 910 shares during the period. Naples Global Advisors LLC’s holdings in Moelis & Company were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Moelis & Company by 12.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,928,445 shares of the asset manager’s stock worth $234,251,000 after purchasing an additional 792,661 shares during the last quarter. Madison Asset Management LLC boosted its stake in Moelis & Company by 84.7% in the second quarter. Madison Asset Management LLC now owns 773,185 shares of the asset manager’s stock valued at $30,425,000 after acquiring an additional 354,484 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Moelis & Company by 448.3% in the second quarter. Renaissance Technologies LLC now owns 414,244 shares of the asset manager’s stock valued at $16,301,000 after acquiring an additional 338,700 shares in the last quarter. Raymond James & Associates boosted its stake in Moelis & Company by 267.8% in the third quarter. Raymond James & Associates now owns 376,340 shares of the asset manager’s stock valued at $12,724,000 after acquiring an additional 274,023 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Moelis & Company by 3.5% during the first quarter. Vanguard Group Inc. now owns 6,645,142 shares of the asset manager’s stock worth $311,989,000 after buying an additional 225,659 shares during the period. 90.35% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Down 0.1 %

NYSE:MC opened at $37.49 on Thursday. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 17.44 and a beta of 1.46. The firm’s fifty day simple moving average is $43.17 and its 200 day simple moving average is $41.35. Moelis & Company has a twelve month low of $33.12 and a twelve month high of $50.23.

Moelis & Company (NYSE:MC – Get Rating) last posted its earnings results on Wednesday, February 8th. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.04). The business had revenue of $207.18 million for the quarter, compared to analyst estimates of $211.34 million. Moelis & Company had a net margin of 15.26% and a return on equity of 37.77%. The business’s revenue was down 51.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. On average, analysts predict that Moelis & Company will post 1.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 28th. Investors of record on Tuesday, February 21st were issued a dividend of $0.60 per share. The ex-dividend date was Friday, February 17th. This represents a $2.40 annualized dividend and a dividend yield of 6.40%. Moelis & Company’s payout ratio is 111.63%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MC. The Goldman Sachs Group increased their target price on shares of Moelis & Company from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Thursday, February 9th. StockNews.com initiated coverage on shares of Moelis & Company in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, UBS Group dropped their price objective on shares of Moelis & Company from $32.00 to $30.00 and set a “sell” rating for the company in a research note on Monday, January 9th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $38.86.

Insider Activity at Moelis & Company

In related news, insider Christopher Callesano sold 1,155 shares of Moelis & Company stock in a transaction on Monday, February 13th. The shares were sold at an average price of $46.92, for a total transaction of $54,192.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Osamu R. Watanabe sold 5,716 shares of Moelis & Company stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $42.06, for a total value of $240,414.96. Following the completion of the transaction, the general counsel now directly owns 6,261 shares of the company’s stock, valued at approximately $263,337.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Callesano sold 1,155 shares of Moelis & Company stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $46.92, for a total transaction of $54,192.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,067 shares of company stock worth $16,395,758. 7.97% of the stock is currently owned by corporate insiders.

Moelis & Company Profile

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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.