Oppenheimer Asset Management Inc. Cuts Stock Position in Moelis & Company (NYSE:MC)

Oppenheimer Asset Management Inc. reduced its holdings in Moelis & Company (NYSE:MC - Free Report) by 17.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,363 shares of the asset manager's stock after selling 8,912 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.06% of Moelis & Company worth $2,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Moelis & Company by 0.7% in the second 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 last quarter. Bank of New York Mellon Corp boosted its stake 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 worth $42,960,000 after purchasing an additional 29,532 shares during the period. Assenagon Asset Management S.A. bought a new position in Moelis & Company during the 3rd quarter valued at about $49,017,000. Natixis Advisors LLC raised its position in Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager's stock worth $40,265,000 after purchasing an additional 454,478 shares during the period. Finally, Emerald Advisers LLC raised its position in Moelis & Company by 1.3% in the 3rd quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager's stock worth $30,167,000 after purchasing an additional 5,844 shares during the period. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Down 2.1 %

NYSE:MC traded down $1.64 during mid-day trading on Friday, reaching $74.69. The company's stock had a trading volume of 664,339 shares, compared to its average volume of 638,825. Moelis & Company has a 1 year low of $44.06 and a 1 year high of $81.60. The stock has a fifty day moving average of $69.49 and a 200-day moving average of $62.86. The firm has a market capitalization of $5.60 billion, a PE ratio of 140.92 and a beta of 1.33.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating 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 net margin of 4.22% and a return on equity of 12.15%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned ($0.15) earnings per share. On average, analysts expect that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, November 4th. Moelis & Company's dividend payout ratio (DPR) is currently 452.83%.

Analyst Ratings Changes

A number of research firms have recently commented on MC. JPMorgan Chase & Co. upped their target price on Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Morgan Stanley reduced their target price on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. UBS Group raised their price target 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. Finally, Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective for the company. 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.com, the stock has a consensus rating of "Hold" and an average target price 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.