Deprince Race & Zollo Inc. Purchase Shares of 1,032,013 Moelis & Co (MC)

Deprince Race & Zollo Inc. Purchase Shares of 1,032,013 Moelis & Co (MC)

Deprince Race & Zollo Inc. purchased a new position in Moelis & Co (NYSE:MC) during the first quarter, Holdings Channel reports. The firm purchased 1,032,013 shares of the asset manager’s stock, valued at approximately $39,733,000.

A number of other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Moelis & Co by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 224,000 shares of the asset manager’s stock valued at $7,594,000 after buying an additional 4,447 shares in the last quarter. State Street Corp raised its position in shares of Moelis & Co by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock valued at $11,038,000 after buying an additional 22,706 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Moelis & Co during the first quarter valued at approximately $2,082,000. Guggenheim Capital LLC raised its position in shares of Moelis & Co by 78.4% in the fourth quarter. Guggenheim Capital LLC now owns 27,287 shares of the asset manager’s stock valued at $925,000 after buying an additional 11,993 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Moelis & Co during the fourth quarter valued at approximately $689,000. 68.96% of the stock is owned by institutional investors.

Shares of Moelis & Co (NYSE MC) traded down 2.23% during trading on Wednesday, reaching $35.10. The company’s stock had a trading volume of 245,602 shares. The company has a 50-day moving average price of $37.11 and a 200-day moving average price of $35.13. The stock has a market cap of $937.10 million, a price-to-earnings ratio of 20.00 and a beta of 1.90. Moelis & Co has a one year low of $21.91 and a one year high of $39.90.

Moelis & Co (NYSE:MC) last posted its earnings results on Tuesday, April 25th. The asset manager reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $173.30 million for the quarter, compared to analyst estimates of $148.75 million. Moelis & Co had a return on equity of 45.11% and a net margin of 6.26%. Moelis & Co’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities research analysts forecast that Moelis & Co will post $2.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $1.48 dividend on an annualized basis and a yield of 4.22%. Moelis & Co’s dividend payout ratio is currently 81.53%.

MC has been the subject of several recent research reports. Zacks Investment Research lowered Moelis & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, March 14th. Keefe, Bruyette & Woods initiated coverage on Moelis & Co in a research report on Friday, May 5th. They set a “mkt perform” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $34.83.

In related news, General Counsel Osamu R. Watanabe sold 4,225 shares of Moelis & Co stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $38.12, for a total transaction of $161,057.00. Following the transaction, the general counsel now owns 4,356 shares in the company, valued at $166,050.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Kenneth Moelis sold 15,000 shares of Moelis & Co stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total value of $561,900.00. The disclosure for this sale can be found here. Insiders have sold 115,679 shares of company stock worth $4,404,687 in the last quarter. 64.47% of the stock is currently owned by company insiders.

Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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