J2 Capital Management Inc Takes Position in Moelis & Company $MC

J2 Capital Management Inc acquired a new stake in Moelis & Company (NYSE:MC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,536 shares of the asset manager’s stock, valued at approximately $965,000. Moelis & Company accounts for about 0.7% of J2 Capital Management Inc’s holdings, making the stock its 24th biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in Moelis & Company by 57.2% in the 1st quarter. Russell Investments Group Ltd. now owns 27,208 shares of the asset manager’s stock valued at $1,588,000 after acquiring an additional 9,897 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Moelis & Company by 12.9% in the 1st quarter. Raymond James Financial Inc. now owns 425,732 shares of the asset manager’s stock worth $24,846,000 after purchasing an additional 48,704 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Moelis & Company in the 1st quarter worth approximately $124,000. Ameriprise Financial Inc. lifted its stake in Moelis & Company by 4.4% during the first quarter. Ameriprise Financial Inc. now owns 2,260,345 shares of the asset manager’s stock valued at $131,914,000 after purchasing an additional 95,114 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Moelis & Company by 94.3% during the first quarter. Jump Financial LLC now owns 59,881 shares of the asset manager’s stock worth $3,495,000 after buying an additional 29,059 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Moelis & Company in a report on Monday, December 15th. Keefe, Bruyette & Woods lowered Moelis & Company from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $78.00 to $80.00 in a research note on Tuesday, December 16th. Zacks Research lowered Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. BMO Capital Markets began coverage on Moelis & Company in a report on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price for the company. Finally, Seaport Res Ptn raised shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $71.63.

Moelis & Company Stock Performance

MC stock opened at $70.09 on Monday. The firm has a 50 day simple moving average of $66.14 and a 200 day simple moving average of $67.66. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89. The stock has a market cap of $5.49 billion, a P/E ratio of 23.44, a P/E/G ratio of 0.74 and a beta of 1.90.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $356.89 million for the quarter, compared to analyst estimates of $336.14 million. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.The business’s revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 10th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, November 10th. Moelis & Company’s dividend payout ratio is 86.96%.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.