Heritage Wealth Management LLC Buys Shares of 4,926 Moelis & Company (NYSE:MC)

Heritage Wealth Management LLC purchased a new stake in Moelis & Company (NYSE:MC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,926 shares of the asset manager’s stock, valued at approximately $276,000.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Moelis & Company in the fourth quarter valued at $34,000. Capital Investment Advisory Services LLC grew its stake in Moelis & Company by 11.7% in the fourth quarter. Capital Investment Advisory Services LLC now owns 6,728 shares of the asset manager’s stock valued at $378,000 after purchasing an additional 705 shares in the last quarter. Strata Wealth Advisors LLC acquired a new stake in Moelis & Company during the 4th quarter worth approximately $2,922,000. Verdence Capital Advisors LLC raised its holdings in Moelis & Company by 1.0% in the 4th quarter. Verdence Capital Advisors LLC now owns 33,054 shares of the asset manager’s stock valued at $1,855,000 after acquiring an additional 340 shares in the last quarter. Finally, Cornerstone Investment Partners LLC increased its stake in shares of Moelis & Company by 3.8% in the 4th quarter. Cornerstone Investment Partners LLC now owns 46,245 shares of the asset manager’s stock valued at $2,596,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

MC has been the topic of a number of research reports. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $58.00 in a research note on Wednesday, March 13th. UBS Group upped their target price on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. Finally, StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Stock Performance

Shares of MC stock traded up $0.72 on Friday, reaching $51.98. 135,266 shares of the company were exchanged, compared to its average volume of 640,704. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -272.84 and a beta of 1.39. The business has a 50-day moving average price of $53.67 and a 200 day moving average price of $51.71.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The company had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. During the same quarter in the prior year, the company earned $0.05 EPS. Moelis & Company’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts anticipate that Moelis & Company will post 1.3 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 4.62%. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Insiders Place Their Bets

In related news, CFO Joseph Simon sold 8,573 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Kenneth Moelis sold 75,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $4,058,250.00. Following the completion of the sale, the chief executive officer now owns 86,441 shares in the company, valued at $4,677,322.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Simon sold 8,573 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $54.13, for a total transaction of $464,056.49. The disclosure for this sale can be found here. Insiders have sold a total of 375,185 shares of company stock worth $20,130,225 in the last ninety days. 6.96% of the stock is owned by corporate insiders.

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.