Moelis & Company (NYSE:MC) Sets New 1-Year High After Strong Earnings

Moelis & Company (NYSE:MC - Get Free Report) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $81.99 and last traded at $81.37, with a volume of 175200 shares changing hands. The stock had previously closed at $79.68.

The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%.

Moelis & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 18th will be given a $0.65 dividend. The ex-dividend date is Tuesday, February 18th. This is an increase from Moelis & Company's previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 3.31%. Moelis & Company's dividend payout ratio (DPR) is currently 136.36%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MC shares. Wells Fargo & Company increased their target price on shares of Moelis & Company from $77.00 to $83.00 and gave the company an "equal weight" rating in a research note on Thursday. The Goldman Sachs Group boosted their target price on Moelis & Company from $79.00 to $87.00 and gave the company a "neutral" rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a report on Thursday. Morgan Stanley upped their price objective on Moelis & Company from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $78.83.

Hedge Funds Weigh In On Moelis & Company

A number of large investors have recently bought and sold shares of the business. Trust Point Inc. lifted its stake in shares of Moelis & Company by 0.8% during the 3rd 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 during the last quarter. Arizona State Retirement System boosted its holdings in shares of Moelis & Company by 0.8% in the 4th quarter. Arizona State Retirement System now owns 20,420 shares of the asset manager's stock valued at $1,509,000 after buying an additional 163 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of 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 during the last quarter. GAMMA Investing LLC lifted its position in Moelis & Company by 18.1% during the fourth quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after acquiring an additional 180 shares during the last quarter. Finally, Choreo LLC boosted its stake in Moelis & Company by 4.0% in the fourth quarter. Choreo LLC now owns 4,831 shares of the asset manager's stock valued at $358,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 91.53% of the company's stock.

Moelis & Company Price Performance

The company's fifty day simple moving average is $75.55 and its 200-day simple moving average is $70.94. The firm has a market capitalization of $5.88 billion, a PE ratio of 44.61 and a beta of 1.40.

Moelis & Company Company Profile

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.