Moelis & Company (NYSE:MC) is Heard Capital LLC's 8th Largest Position

Heard Capital LLC lowered its position in Moelis & Company (NYSE:MC - Free Report) by 16.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,798,360 shares of the asset manager's stock after selling 352,350 shares during the quarter. Moelis & Company comprises about 6.9% of Heard Capital LLC's holdings, making the stock its 8th biggest holding. Heard Capital LLC owned approximately 2.40% of Moelis & Company worth $123,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Point Inc. lifted its stake 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 last quarter. OneDigital Investment Advisors LLC lifted its position in Moelis & Company by 1.3% in the third 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 last quarter. SkyView Investment Advisors LLC boosted its stake in Moelis & Company by 1.4% during the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock worth $788,000 after buying an additional 188 shares during the period. Bank of Montreal Can boosted its stake in Moelis & Company by 2.7% during the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager's stock worth $409,000 after buying an additional 192 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock valued at $28,000 after acquiring an additional 193 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MC has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research report on Tuesday, October 8th. Morgan Stanley lowered their price target on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.83.

Moelis & Company Stock Performance

Shares of Moelis & Company stock traded down $0.44 during trading hours on Tuesday, reaching $75.37. 453,060 shares of the company were exchanged, compared to its average volume of 629,847. The firm has a market cap of $5.65 billion, a PE ratio of 142.38 and a beta of 1.37. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60. The stock's fifty day moving average is $71.29 and its 200 day moving average is $64.62.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. Moelis & Company's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.15) EPS. Research analysts expect that Moelis & Company will post 0.97 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders 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 dividend yield of 3.18%. Moelis & Company's payout ratio is 452.83%.

About Moelis & Company

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.