Holocene Advisors LP Purchases New Holdings in Moelis & Company (NYSE:MC)

Holocene Advisors LP bought a new position in Moelis & Company (NYSE:MC - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,755 shares of the asset manager's stock, valued at approximately $1,833,000.

A number of other large investors also recently modified their holdings of MC. Assenagon Asset Management S.A. bought a new position in Moelis & Company in the 3rd quarter worth approximately $49,017,000. Natixis Advisors LLC raised its position in shares of Moelis & Company by 179.2% during the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager's stock worth $40,265,000 after acquiring an additional 454,478 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Moelis & Company by 322.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager's stock valued at $6,714,000 after acquiring an additional 74,800 shares during the period. Hsbc Holdings PLC boosted its holdings in Moelis & Company by 40.7% in the second quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager's stock valued at $14,113,000 after acquiring an additional 71,372 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Moelis & Company by 27.0% in the second quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager's stock worth $16,690,000 after purchasing an additional 62,444 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Up 0.6 %

Shares of NYSE:MC traded up $0.44 during midday trading on Friday, reaching $75.69. 361,197 shares of the company were exchanged, compared to its average volume of 591,933. The firm has a market cap of $5.67 billion, a PE ratio of 142.81 and a beta of 1.37. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $81.60. The stock has a fifty day simple moving average of $71.78 and a two-hundred day simple moving average of $65.08.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) earnings per share. As a group, analysts forecast that Moelis & Company will post 0.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.17%. Moelis & Company's dividend payout ratio is currently 452.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MC shares. UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Morgan Stanley cut their price target on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $60.83.

About Moelis & Company

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.