Diversify Advisory Services LLC Decreases Stock Position in Moelis & Company (NYSE:MC)

Diversify Advisory Services LLC cut its stake in Moelis & Company (NYSE:MC - Free Report) by 21.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,355 shares of the asset manager's stock after selling 10,196 shares during the quarter. Diversify Advisory Services LLC's holdings in Moelis & Company were worth $2,629,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MC. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Moelis & Company by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager's stock valued at $408,836,000 after purchasing an additional 47,365 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager's stock valued at $63,483,000 after acquiring an additional 55,402 shares during the period. Bank of New York Mellon Corp grew its position in shares of Moelis & Company by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager's stock valued at $42,960,000 after acquiring an additional 29,532 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Moelis & Company in the 3rd quarter valued at about $49,017,000. Finally, Natixis Advisors LLC increased its stake in shares of Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager's stock valued at $40,265,000 after purchasing an additional 454,478 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. Morgan Stanley reduced their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 target price on the stock. UBS Group lifted 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, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $60.83.

Insider Activity at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the business's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now directly owns 9,372 shares in the company, valued at $649,385.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is currently owned by insiders.

Moelis & Company Stock Up 0.7 %

MC traded up $0.46 during trading on Tuesday, reaching $67.50. The company's stock had a trading volume of 429,611 shares, compared to its average volume of 627,759. The company has a market cap of $5.05 billion, a price-to-earnings ratio of -351.84 and a beta of 1.33. The firm has a fifty day simple moving average of $67.58 and a two-hundred day simple moving average of $60.86. Moelis & Company has a 1 year low of $39.82 and a 1 year high of $72.80.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm 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 4.38% and a net margin of 1.38%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. As a group, equities analysts forecast that Moelis & Company will post 0.98 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Monday, November 4th. Moelis & Company's dividend payout ratio is currently -1,263.16%.

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.