Assenagon Asset Management S.A. Purchases 53,473 Shares of Moelis & Company (NYSE:MC)

Assenagon Asset Management S.A. boosted its position in shares of Moelis & Company (NYSE:MC - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 768,945 shares of the asset manager's stock after purchasing an additional 53,473 shares during the period. Assenagon Asset Management S.A. owned 1.03% of Moelis & Company worth $56,810,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MC. Trust Point Inc. lifted its position in shares of Moelis & Company by 0.8% in the third quarter. Trust Point Inc. now owns 18,976 shares of the asset manager's stock worth $1,300,000 after purchasing an additional 147 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in Moelis & Company by 1.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager's stock worth $946,000 after buying an additional 172 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Moelis & Company by 18.1% during the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after buying an additional 180 shares during the period. SkyView Investment Advisors LLC grew its holdings in shares of Moelis & Company by 1.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock valued at $788,000 after acquiring an additional 188 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Moelis & Company by 2.7% in the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager's stock worth $409,000 after acquiring an additional 192 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Up 1.6 %

Shares of MC stock traded up $1.17 during trading hours on Thursday, reaching $76.45. 455,007 shares of the company's stock were exchanged, compared to its average volume of 815,301. The stock has a market capitalization of $5.73 billion, a P/E ratio of 144.24 and a beta of 1.39. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $81.60. The business has a fifty day moving average price of $74.80 and a 200-day moving average price of $68.87.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analysts' expectations of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. Moelis & Company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, research analysts expect that Moelis & Company will post 1.02 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.14%. Moelis & Company's payout ratio is presently 452.83%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley raised shares of Moelis & Company from an "underweight" rating to an "overweight" rating and boosted their target price for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods upgraded Moelis & Company from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $71.00 to $86.00 in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on Moelis & Company from $78.00 to $77.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.67.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.