Emerald Mutual Fund Advisers Trust Sells 19,840 Shares of Moelis & Company (NYSE:MC)

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 5.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 360,871 shares of the asset manager's stock after selling 19,840 shares during the period. Moelis & Company comprises approximately 1.3% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 23rd biggest position. Emerald Mutual Fund Advisers Trust owned approximately 0.48% of Moelis & Company worth $24,723,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MC. Kayne Anderson Rudnick Investment Management LLC raised its holdings in 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 worth $408,836,000 after buying an additional 47,365 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Moelis & Company by 5.2% in 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Moelis & Company by 4.1% in 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 in the last quarter. Assenagon Asset Management S.A. acquired a new position in Moelis & Company in the 3rd quarter worth approximately $49,017,000. Finally, Natixis Advisors LLC raised its stake 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 purchasing an additional 454,478 shares during the period. Institutional investors and hedge funds own 91.53% of the company's stock.

Moelis & Company Stock Performance

Shares of NYSE MC traded up $0.53 during trading hours on Friday, hitting $66.93. The stock had a trading volume of 365,788 shares, compared to its average volume of 584,833. The firm's 50-day moving average price is $67.72 and its two-hundred day moving average price is $61.29. Moelis & Company has a 52 week low of $40.68 and a 52 week high of $72.80. The company has a market capitalization of $5.01 billion, a P/E ratio of 126.28 and a beta of 1.33.

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

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.59%. Moelis & Company's payout ratio is currently 452.83%.

Wall Street Analyst Weigh In

MC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Wells Fargo & Company initiated coverage on Moelis & Company in a research note on Thursday, September 12th. They set an "equal weight" rating and a $70.00 target price on the stock. UBS Group upped their target price on Moelis & Company from $54.00 to $60.00 and gave the company a "sell" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Finally, Morgan Stanley lowered their price objective 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. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.83.

Moelis & 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.