JPMorgan Chase & Co. Cuts Stake in Moelis & Company (NYSE:MC)

JPMorgan Chase & Co. decreased its holdings in Moelis & Company (NYSE:MC - Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,206,118 shares of the asset manager's stock after selling 256,185 shares during the period. JPMorgan Chase & Co. owned about 1.61% of Moelis & Company worth $82,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. DGS Capital Management LLC purchased a new position in Moelis & Company in the third quarter worth approximately $202,000. Tidal Investments LLC acquired a new stake in shares of Moelis & Company in the 3rd quarter valued at $1,290,000. Sanctuary Advisors LLC raised its holdings in shares of Moelis & Company by 25.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,214 shares of the asset manager's stock valued at $917,000 after purchasing an additional 2,463 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Moelis & Company by 2.2% during the 3rd quarter. SkyView Investment Advisors LLC now owns 14,166 shares of the asset manager's stock worth $971,000 after purchasing an additional 300 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Moelis & Company during the third quarter worth $633,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. Wells Fargo & Company upped their price objective on shares of Moelis & Company from $70.00 to $78.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. UBS Group raised their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. Finally, Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $66.00 to $92.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Moelis & Company has a consensus rating of "Hold" and a consensus price target of $70.83.

Moelis & Company Stock Up 0.9 %

Shares of MC traded up $0.66 on Friday, reaching $74.86. The stock had a trading volume of 513,719 shares, compared to its average volume of 818,609. The firm has a 50-day moving average of $74.01 and a 200 day moving average of $67.67. The firm has a market capitalization of $5.61 billion, a PE ratio of 141.25 and a beta of 1.39. Moelis & Company has a twelve month low of $46.24 and a twelve month high of $81.60.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share 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 posted ($0.15) EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. Moelis & Company's dividend payout ratio (DPR) is 452.83%.

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.