Intech Investment Management LLC Invests $1.33 Million in Moelis & Company (NYSE:MC)

Intech Investment Management LLC bought a new position in Moelis & Company (NYSE:MC - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 19,398 shares of the asset manager's stock, valued at approximately $1,329,000.

Other hedge funds have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its stake in Moelis & Company by 4.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,850 shares of the asset manager's stock valued at $3,340,000 after acquiring an additional 2,667 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Moelis & Company by 7.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 35,766 shares of the asset manager's stock valued at $2,031,000 after acquiring an additional 2,428 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Moelis & Company during the first quarter valued at approximately $256,000. SG Americas Securities LLC lifted its holdings in Moelis & Company by 42.9% during the second quarter. SG Americas Securities LLC now owns 6,007 shares of the asset manager's stock worth $342,000 after acquiring an additional 1,804 shares during the period. Finally, Curated Wealth Partners LLC boosted its position in Moelis & Company by 197.3% in the second quarter. Curated Wealth Partners LLC now owns 8,987 shares of the asset manager's stock worth $511,000 after purchasing an additional 18,221 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Stock Performance

MC stock traded down $1.05 during midday trading on Wednesday, reaching $75.85. 456,269 shares of the company's stock traded hands, compared to its average volume of 632,956. The firm has a market capitalization of $5.68 billion, a PE ratio of 145.06 and a beta of 1.33. The company has a 50-day moving average price of $70.80 and a two-hundred day moving average price of $64.05. Moelis & Company has a 52 week low of $45.45 and a 52 week high of $81.60.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating 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 company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. During the same period in the previous year, the company posted ($0.15) EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company's dividend payout ratio (DPR) is presently 452.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MC. 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 target price for the company. Morgan Stanley lowered their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group increased their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a "sell" rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.