Hilton Capital Management LLC Takes $101,000 Position in Moelis & Co (NYSE:MC)

Hilton Capital Management LLC purchased a new stake in Moelis & Co (NYSE:MC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,421 shares of the asset manager’s stock, valued at approximately $101,000.

A number of other hedge funds also recently bought and sold shares of the stock. Jennison Associates LLC raised its stake in Moelis & Co by 48.5% during the fourth quarter. Jennison Associates LLC now owns 1,989,556 shares of the asset manager’s stock worth $68,401,000 after acquiring an additional 650,085 shares in the last quarter. Norges Bank acquired a new position in shares of Moelis & Co in the fourth quarter valued at approximately $14,283,000. Wells Fargo & Company MN increased its stake in shares of Moelis & Co by 33.1% in the first quarter. Wells Fargo & Company MN now owns 1,269,795 shares of the asset manager’s stock valued at $52,837,000 after buying an additional 316,116 shares during the period. Millennium Management LLC increased its stake in shares of Moelis & Co by 258.4% in the fourth quarter. Millennium Management LLC now owns 417,751 shares of the asset manager’s stock valued at $14,362,000 after buying an additional 301,206 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Moelis & Co by 89.1% in the fourth quarter. Royce & Associates LP now owns 467,270 shares of the asset manager’s stock valued at $16,065,000 after buying an additional 220,116 shares during the period. 74.66% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Moelis & Co from a “hold” rating to a “sell” rating in a research note on Wednesday, April 17th. ValuEngine downgraded Moelis & Co from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 7th. Bank of America downgraded Moelis & Co from a “buy” rating to an “underperform” rating in a research note on Thursday, April 11th. Finally, JMP Securities lowered their price objective on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $52.00.

In related news, General Counsel Osamu R. Watanabe sold 16,972 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $636,450.00. Following the transaction, the general counsel now directly owns 34,075 shares in the company, valued at approximately $1,277,812.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Elizabeth Crain sold 31,669 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.13, for a total value of $1,017,524.97. Following the completion of the sale, the chief operating officer now directly owns 38,638 shares of the company’s stock, valued at $1,241,438.94. The disclosure for this sale can be found here. Insiders have sold a total of 227,181 shares of company stock worth $8,350,975 over the last 90 days. Company insiders own 19.67% of the company’s stock.

MC stock traded down $0.40 during trading on Friday, hitting $34.27. The company had a trading volume of 290,269 shares, compared to its average volume of 484,449. The firm has a market cap of $2.04 billion, a PE ratio of 11.42, a PEG ratio of 1.25 and a beta of 1.97. Moelis & Co has a one year low of $31.64 and a one year high of $65.94. The stock has a 50-day moving average price of $33.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 10.48 and a current ratio of 10.48.

Moelis & Co (NYSE:MC) last posted its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The firm had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $141.54 million. Moelis & Co had a return on equity of 49.19% and a net margin of 15.04%. The company’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. Equities analysts expect that Moelis & Co will post 2.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Friday, May 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend was Thursday, May 9th. Moelis & Co’s payout ratio is 66.67%.

Moelis & Co Company Profile

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

See Also: Do back-end load funds outperform no-load funds?

Institutional Ownership by Quarter for Moelis & Co (NYSE:MC)

Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.