Goldman Sachs Group Inc. Purchases 81,877 Shares of Moelis & Company (MC)

Goldman Sachs Group Inc. boosted its stake in Moelis & Company (NYSE:MC) by 150.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,424 shares of the asset manager’s stock after buying an additional 81,877 shares during the period. Goldman Sachs Group Inc. owned approximately 0.51% of Moelis & worth $5,252,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MC. Envestnet Asset Management Inc. increased its stake in shares of Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock valued at $117,000 after buying an additional 315 shares during the period. Legal & General Group Plc increased its stake in Moelis & by 26.5% in the first quarter. Legal & General Group Plc now owns 5,753 shares of the asset manager’s stock worth $220,000 after buying an additional 1,204 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Moelis & during the first quarter worth about $264,000. Mckinley Capital Management LLC Delaware purchased a new stake in Moelis & during the first quarter worth about $353,000. Finally, Lucus Advisors LLC purchased a new stake in Moelis & during the first quarter worth about $416,000. 93.87% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company (NYSE:MC) traded up 0.816% during trading on Friday, reaching $40.175. The company had a trading volume of 94,255 shares. Moelis & Company has a 12-month low of $23.60 and a 12-month high of $44.85. The stock has a market capitalization of $1.07 billion, a P/E ratio of 17.959 and a beta of 1.87. The stock has a 50 day moving average of $39.40 and a 200-day moving average of $37.44.

Moelis & (NYSE:MC) last announced its quarterly earnings data on Monday, July 24th. The asset manager reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.15. Moelis & had a net margin of 8.50% and a return on equity of 53.43%. The company had revenue of $172.10 million for the quarter, compared to the consensus estimate of $156.85 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. On average, analysts forecast that Moelis & Company will post $2.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, August 1st. Moelis &’s dividend payout ratio is presently 74.00%.

MC has been the subject of several research analyst reports. BidaskClub lowered Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised Moelis & from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research note on Friday, July 28th. Morgan Stanley lifted their price target on Moelis & from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. JMP Securities lifted their price objective on Moelis & from $42.00 to $44.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 25th. Finally, Bank of America Corporation lifted their price objective on Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $39.22.

In other Moelis & news, Chairman Kenneth Moelis sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $37.46, for a total value of $561,900.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 64.47% of the company’s stock.

Moelis & Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.