Moelis & Company (NYSE:MC) Position Cut by AMG National Trust Bank

AMG National Trust Bank decreased its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 38.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,280 shares of the asset manager's stock after selling 9,982 shares during the quarter. AMG National Trust Bank's holdings in Moelis & Company were worth $1,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Trust Point Inc. boosted its position in shares of Moelis & Company by 0.8% in the 3rd quarter. Trust Point Inc. now owns 18,976 shares of the asset manager's stock valued at $1,300,000 after purchasing an additional 147 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in shares of Moelis & Company by 1.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager's stock valued at $946,000 after buying an additional 172 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of Moelis & Company by 1.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock valued at $788,000 after buying an additional 188 shares during the period. Bank of Montreal Can lifted its holdings in shares of Moelis & Company by 2.7% in the 2nd 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 period. Finally, UMB Bank n.a. lifted its holdings in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock valued at $28,000 after buying an additional 193 shares during the period. 91.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MC has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued 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 price objective on Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a research report on Thursday, July 25th. Wells Fargo & Company initiated coverage on Moelis & Company in a research report on Thursday, September 12th. They set an "equal weight" rating and a $70.00 price target for the company. Finally, UBS Group boosted their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, Moelis & Company has a consensus rating of "Hold" and an average price target of $60.83.

Moelis & Company Stock Performance

Shares of NYSE:MC traded down $0.55 during trading on Wednesday, hitting $73.38. The company's stock had a trading volume of 326,400 shares, compared to its average volume of 635,763. Moelis & Company has a fifty-two week low of $44.06 and a fifty-two week high of $81.60. The stock's 50-day moving average price is $69.88 and its two-hundred day moving average price is $63.26. The company has a market capitalization of $5.50 billion, a PE ratio of 138.19 and a beta of 1.33.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $273.58 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. Moelis & Company's revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts predict that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced 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. This represents a $2.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Monday, November 4th. Moelis & Company's dividend payout ratio (DPR) is presently 452.83%.

Moelis & 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.