Hilton Capital Management LLC bought a new position in Moelis & Company (NYSE:MC - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,417 shares of the asset manager's stock, valued at approximately $1,604,000.
A number of other hedge funds have also recently modified their holdings of the stock. Trust Point Inc. increased its position in shares of Moelis & Company by 0.8% during the third quarter. Trust Point Inc. now owns 18,976 shares of the asset manager's stock worth $1,300,000 after purchasing an additional 147 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Moelis & Company by 1.3% during the third quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager's stock valued at $946,000 after acquiring an additional 172 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Moelis & Company by 1.4% during the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock worth $788,000 after purchasing an additional 188 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Moelis & Company by 2.7% during the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager's stock valued at $409,000 after buying an additional 192 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock valued at $28,000 after acquiring an additional 193 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.
Moelis & Company Stock Down 0.7 %
Shares of Moelis & Company stock traded down $0.55 on Wednesday, hitting $73.38. The stock had a trading volume of 326,393 shares, compared to its average volume of 635,763. Moelis & Company has a one year low of $44.06 and a one year high of $81.60. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 138.19 and a beta of 1.33. The stock's 50-day simple moving average is $69.88 and its two-hundred day simple moving average is $63.26.
Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. Moelis & Company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.
Moelis & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.27%. Moelis & Company's dividend payout ratio (DPR) is 452.83%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on MC shares. Morgan Stanley decreased their target price on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 target price on the stock. Finally, UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $60.83.
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About Moelis & Company
(
Free Report)
Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.
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