Moelis & Company (NYSE:MC – Get Rating) – Equities research analysts at Zacks Research raised their Q1 2023 EPS estimates for shares of Moelis & Company in a note issued to investors on Monday, April 3rd. Zacks Research analyst S. Shah now forecasts that the asset manager will post earnings of $0.40 per share for the quarter, up from their previous estimate of $0.23. The consensus estimate for Moelis & Company’s current full-year earnings is $1.97 per share.
Several other equities analysts also recently weighed in on the stock. StockNews.com initiated coverage on shares of Moelis & Company in a research note on Thursday, March 16th. They issued a “hold” rating for the company. UBS Group cut their price target 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Moelis & Company from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Thursday, February 9th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $38.86.
Moelis & Company Price Performance
Moelis & Company (NYSE:MC – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The asset manager reported $0.33 earnings per share (EPS) 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 the consensus estimate of $211.34 million. Moelis & Company had a net margin of 15.26% and a return on equity of 37.77%. Moelis & Company’s revenue was down 51.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.42 EPS.
Institutional Investors Weigh In On Moelis & Company
A number of large investors have recently modified their holdings of MC. Advisor Group Holdings Inc. lifted its holdings in Moelis & Company by 12.7% in the first quarter. Advisor Group Holdings Inc. now owns 13,269 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 1,498 shares during the period. Bank of New York Mellon Corp raised its stake in Moelis & Company by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 556,181 shares of the asset manager’s stock valued at $26,113,000 after purchasing an additional 17,074 shares during the last quarter. US Bancorp DE raised its stake in Moelis & Company by 9.1% in the 1st quarter. US Bancorp DE now owns 7,401 shares of the asset manager’s stock valued at $348,000 after purchasing an additional 620 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Moelis & Company by 95.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,478 shares of the asset manager’s stock valued at $351,000 after buying an additional 3,653 shares in the last quarter. Finally, Cetera Advisor Networks LLC grew its holdings in Moelis & Company by 15.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,366 shares of the asset manager’s stock valued at $299,000 after buying an additional 828 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.
Insiders Place Their Bets
In other news, insider Christopher Callesano sold 1,155 shares of Moelis & Company stock in a transaction on Monday, February 13th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Moelis & Company news, insider Jeffrey Raich sold 36,592 shares of Moelis & Company stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $42.06, for a total value of $1,539,059.52. Following the transaction, the insider now owns 44,710 shares in the company, valued at $1,880,502.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $54,192.60. The disclosure for this sale can be found here. Insiders sold 370,067 shares of company stock valued at $16,395,758 over the last three months. 7.97% of the stock is owned by company insiders.
Moelis & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 28th. Shareholders of record on Tuesday, February 21st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend was Friday, February 17th. Moelis & Company’s payout ratio is 111.63%.
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.
Read More
- Get a free copy of the StockNews.com research report on Moelis & Company (MC)
- Hypercharge Networks: Up Triple Digits, But What’s The Big Deal?
- 3 Reasons Why Apple’s 30% Rally Has Legs
- 3 Reasons to Pick First Citizens Instead of First Republic Bank
- 3 April Earnings Plays for Bullish Swing Traders
- Is Constellation Brands Star About To Rise?
Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with MarketBeat.com's FREE daily email newsletter.
