Renaissance Technologies LLC Reduces Holdings in Moelis & Company $MC

Renaissance Technologies LLC lessened its position in shares of Moelis & Company (NYSE:MC) by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,500 shares of the asset manager’s stock after selling 76,444 shares during the period. Renaissance Technologies LLC’s holdings in Moelis & Company were worth $12,512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC increased its holdings in Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock worth $26,000 after acquiring an additional 339 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Moelis & Company during the fourth quarter worth about $27,000. Hantz Financial Services Inc. boosted its position in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after purchasing an additional 163 shares during the period. Allworth Financial LP increased its stake in shares of Moelis & Company by 153.9% in the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after purchasing an additional 254 shares in the last quarter. Finally, eCIO Inc. purchased a new position in shares of Moelis & Company in the fourth quarter worth about $33,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Trading Down 1.9%

Shares of MC opened at $67.08 on Friday. The company has a market cap of $5.27 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85. The stock has a 50-day moving average price of $67.25 and a 200-day moving average price of $65.31. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $409.39 million for the quarter, compared to analysts’ expectations of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.61%. Moelis & Company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. As a group, analysts predict that Moelis & Company will post 3.13 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Monday, August 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 10th. Moelis & Company’s payout ratio is currently 90.59%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research raised shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods dropped their target price on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Friday, July 10th. Finally, Morgan Stanley lifted their price target on Moelis & Company from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus target price of $73.62.

Moelis & Company Company Profile

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.