Dynamic Technology Lab Private Ltd acquired a new stake in Moelis & Company (NYSE:MC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,870 shares of the asset manager's stock, valued at approximately $1,704,000.
Several other institutional investors have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Moelis & Company by 0.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager's stock worth $408,836,000 after purchasing an additional 47,365 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Moelis & Company by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager's stock worth $63,229,000 after buying an additional 16,830 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Moelis & Company by 13.7% during the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager's stock worth $55,141,000 after acquiring an additional 96,720 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Moelis & Company by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager's stock valued at $42,960,000 after acquiring an additional 29,532 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Moelis & Company in the 3rd quarter valued at $49,017,000. Hedge funds and other institutional investors own 91.53% of the company's stock.
Moelis & Company Stock Down 0.9 %
MC traded down $0.70 on Tuesday, hitting $76.88. The company had a trading volume of 343,396 shares, compared to its average volume of 633,728. The business's fifty day simple moving average is $70.65 and its 200 day simple moving average is $63.89. Moelis & Company has a 12-month low of $44.53 and a 12-month high of $81.60. The company has a market cap of $5.76 billion, a PE ratio of 146.42 and a beta of 1.33.
Moelis & Company (NYSE:MC - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $273.58 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company's quarterly revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Moelis & Company will post 0.96 earnings per share for the current fiscal year.
Moelis & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company's dividend payout ratio is currently 452.83%.
Wall Street Analysts Forecast Growth
Several research firms have commented on MC. UBS Group increased their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a "sell" rating in a report on Tuesday, October 8th. Morgan Stanley dropped their price target on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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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