Legacy Capital Wealth Partners LLC Invests $465,000 in Moelis & Company (NYSE:MC)

Legacy Capital Wealth Partners LLC bought a new stake in Moelis & Company (NYSE:MC - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,781 shares of the asset manager's stock, valued at approximately $465,000.

A number of other large investors also recently modified their holdings of MC. Atria Investments Inc boosted its position in shares of Moelis & Company by 4.6% during the third quarter. Atria Investments Inc now owns 25,197 shares of the asset manager's stock valued at $1,726,000 after purchasing an additional 1,107 shares in the last quarter. Emerald Advisers LLC lifted its position in Moelis & Company by 1.3% during the third quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager's stock valued at $30,167,000 after purchasing an additional 5,844 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Moelis & Company by 15.6% in the third quarter. Harbor Capital Advisors Inc. now owns 20,985 shares of the asset manager's stock worth $1,438,000 after acquiring an additional 2,826 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Moelis & Company during the 3rd quarter valued at about $26,000. Finally, O ROURKE & COMPANY Inc increased its holdings in Moelis & Company by 4.7% during the third quarter. O ROURKE & COMPANY Inc now owns 6,489 shares of the asset manager's stock valued at $445,000 after buying an additional 294 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Trading Up 1.3 %

MC stock traded up $0.97 during midday trading on Monday, hitting $77.98. 909,025 shares of the company's stock were exchanged, compared to its average volume of 636,824. The stock has a market capitalization of $5.84 billion, a PE ratio of 147.13 and a beta of 1.33. Moelis & Company has a 1-year low of $41.18 and a 1-year high of $81.60. The business has a 50-day simple moving average of $68.58 and a two-hundred day simple moving average of $62.22.

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

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.08%. Moelis & Company's dividend payout ratio (DPR) is 452.83%.

Analysts Set New Price Targets

A number of equities research analysts have commented on MC shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Morgan Stanley cut their price target on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a report on Thursday, October 24th. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Moelis & Company has a consensus rating of "Hold" and a consensus price target of $60.83.

Moelis & Company Company Profile

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.