Moelis & Company (NYSE: MC) stock fell -0.05% on Wednesday to $37.88 against a previous-day closing price of $37.90. With 0.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.59 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $38.33 whereas the lowest price it dropped to was $36.43. The 52-week range on MC shows that it touched its highest point at $50.23 and its lowest point at $33.12 during that stretch. It currently has a 1-year price target of $31.00. With its current market cap of 2.70 billion, MC has annualized dividend of $2.40 while the current yield stands at 6.34%. Beta for the stock currently stands at 1.45.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MC was up-trending over the past week, with a rise of 4.93%, but this was down by -9.68% over a month. Three-month performance dropped to -11.43% while six-month performance fell -10.11%. The stock lost -14.91% in the past year, while it has lost -1.28% so far this year. A look at the trailing 12-month EPS for MC yields 1.26 with Next year EPS estimates of 2.14. For the next quarter, that number is 0.04. This implies an EPS growth rate of -59.90% for this year and 308.99% for next year. EPS is expected to decline by -4.70% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -17.50%.
Float and Shares Shorts:
At present, 67.01 million MC shares are outstanding with a float of 63.15 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.42 million, which was 3.64% higher than short shares on Mar 30, 2023. In addition to Mr. Kenneth David Moelis as the firm’s Founder, CEO & Chairman, Mr. Eric Cantor serves as its Vice Chairman & MD.
Through their ownership of 101.97% of MC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.33% of MC, in contrast to 49.51% held by mutual funds. Shares owned by individuals account for 0.86%. As the largest shareholder in MC with 10.96% of the stake, Kayne Anderson Rudnick Investment holds 7,010,589 shares worth 7,010,589. A second-largest stockholder of MC, The Vanguard Group, Inc., holds 6,501,905 shares, controlling over 10.16% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MC, holding 4,546,278 shares or 7.11% stake. With a 4.45% stake in MC, the Touchstone Funds Group Trust – Mi is the largest stakeholder. A total of 2,848,035 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.13% of MC stock, is the second-largest Mutual Fund holder. It holds 2,000,255 shares valued at 75.77 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in MC, owning 1,674,280 shares worth 63.42 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MC reported revenue of $242.52M and operating income of $62.20M. The EBITDA in the recently reported quarter was $64.04M and diluted EPS was $0.56.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MC analysts setting a high price target of $38.00 and a low target of $27.00, the average target price over the next 12 months is $32.17. Based on these targets, MC could surge 0.32% to reach the target high and fall by -28.72% to reach the target low. Reaching the average price target will result in a decline of -15.07% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded MC stock several times over the past three months with 18 Buys and 5 Sells. In these transactions, 2,738 shares were bought while 136,241 shares were sold. The number of buy transactions has increased to 67 while that of sell transactions has risen to 40 over the past year. The total number of shares bought during that period was 502,683 while 905,628 shares were sold.