Citigroup Inc. Acquires 37,375 Shares of Moelis & Company (NYSE:MC)

Citigroup Inc. grew its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 75.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,213 shares of the asset manager's stock after buying an additional 37,375 shares during the quarter. Citigroup Inc. owned 0.12% of Moelis & Company worth $5,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MC. Assenagon Asset Management S.A. purchased a new stake in Moelis & Company during the third quarter worth about $49,017,000. Natixis Advisors LLC increased its stake in shares of Moelis & Company by 179.2% during the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager's stock worth $40,265,000 after purchasing an additional 454,478 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Moelis & Company by 40.7% in the 2nd quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager's stock worth $14,113,000 after purchasing an additional 71,372 shares during the period. Envestnet Asset Management Inc. lifted its stake 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 valued at $16,690,000 after purchasing an additional 62,444 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Moelis & Company in the third quarter worth $3,433,000. 91.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MC. Morgan Stanley cut 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. UBS Group lifted their target price 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. Finally, Wells Fargo & Company began coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They set an "equal weight" rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $60.83.

Moelis & Company Trading Down 1.5 %

Shares of MC stock traded down $1.17 during trading hours on Monday, reaching $75.81. The stock had a trading volume of 438,387 shares, compared to its average volume of 630,795. The stock's fifty day simple moving average is $71.29 and its 200 day simple moving average is $64.62. The firm has a market capitalization of $5.68 billion, a PE ratio of 143.04 and a beta of 1.33. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. During the same period last year, the firm earned ($0.15) EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Moelis & Company will post 0.96 EPS 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. 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 3.17%. 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.