Moelis & Company (NYSE:MC) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in shares of Moelis & Company (NYSE:MC - Free Report) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,741 shares of the asset manager's stock after purchasing an additional 8,342 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.19% of Moelis & Company worth $9,848,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MC. Assenagon Asset Management S.A. purchased a new stake in Moelis & Company in the third quarter worth $49,017,000. Natixis Advisors LLC lifted its holdings in Moelis & Company by 179.2% during the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager's stock valued at $40,265,000 after buying an additional 454,478 shares in the last quarter. Hsbc Holdings PLC boosted its position in Moelis & Company by 40.7% in the 2nd quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager's stock valued at $14,113,000 after buying an additional 71,372 shares during the period. Diversify Advisory Services LLC bought a new position in Moelis & Company in the 1st quarter worth about $3,630,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Moelis & Company during the first quarter worth approximately $3,601,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Performance

NYSE:MC traded down $0.61 during midday trading on Wednesday, reaching $66.87. 306,539 shares of the stock traded hands, compared to its average volume of 626,230. The stock has a market capitalization of $5.00 billion, a PE ratio of -354.89 and a beta of 1.33. Moelis & Company has a 12-month low of $39.91 and a 12-month high of $72.80. The business has a 50-day moving average of $67.66 and a two-hundred day moving average of $60.96.

Moelis & Company (NYSE:MC - Get Free Report) last announced its 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. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same period in the previous year, the business earned ($0.15) EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Research analysts anticipate that Moelis & Company will post 0.98 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. Moelis & Company's dividend payout ratio is currently -1,263.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on MC. JPMorgan Chase & Co. increased their price objective on Moelis & Company from $50.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective for the company. Morgan Stanley cut their target price 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Finally, UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $60.83.

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.