Legacy Capital Wealth Partners LLC Sells 3,468 Shares of Moelis & Company (NYSE:MC)

Legacy Capital Wealth Partners LLC lessened its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,313 shares of the asset manager's stock after selling 3,468 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Moelis & Company were worth $245,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in Moelis & Company by 1.0% during the fourth quarter. Rhumbline Advisers now owns 195,814 shares of the asset manager's stock worth $14,467,000 after acquiring an additional 1,954 shares during the period. Leavell Investment Management Inc. acquired a new position in Moelis & Company in the 4th quarter worth approximately $204,000. Entropy Technologies LP purchased a new position in Moelis & Company during the 4th quarter valued at about $412,000. Empowered Funds LLC increased its stake in Moelis & Company by 2.0% in the 4th quarter. Empowered Funds LLC now owns 31,136 shares of the asset manager's stock valued at $2,300,000 after buying an additional 622 shares during the period. Finally, Robertson Stephens Wealth Management LLC increased its stake in shares of Moelis & Company by 8.8% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 3,717 shares of the asset manager's stock worth $275,000 after acquiring an additional 302 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MC. Morgan Stanley boosted their target price on Moelis & Company from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. The Goldman Sachs Group boosted their price target on Moelis & Company from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Thursday, February 6th. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, February 6th. StockNews.com raised shares of Moelis & Company from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $78.83.

Moelis & Company Price Performance

Shares of MC stock traded down $4.07 during trading hours on Thursday, reaching $73.68. 242,798 shares of the company were exchanged, compared to its average volume of 752,222. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 41.91 and a beta of 1.40. The stock's fifty day moving average is $75.81 and its two-hundred day moving average is $71.49. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.79. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. On average, research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, February 18th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Moelis & Company's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, February 18th. Moelis & Company's dividend payout ratio (DPR) is presently 147.73%.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.