Pathstone Holdings LLC cut its holdings in Moelis & Company (NYSE:MC - Free Report) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,715 shares of the asset manager's stock after selling 7,409 shares during the quarter. Pathstone Holdings LLC owned approximately 0.05% of Moelis & Company worth $2,721,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Trust Point Inc. lifted its position in shares of Moelis & Company by 0.8% in the third quarter. Trust Point Inc. now owns 18,976 shares of the asset manager's stock worth $1,300,000 after purchasing an additional 147 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake 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 purchasing an additional 172 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Moelis & Company by 1.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock valued at $788,000 after purchasing an additional 188 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Moelis & Company by 2.7% in the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager's stock valued at $409,000 after buying an additional 192 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock worth $28,000 after purchasing an additional 193 shares during the last quarter. 91.53% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently commented on MC. Morgan Stanley cut their target price on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a research report on Thursday, October 24th. UBS Group raised their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They set an "equal weight" rating and a $70.00 target price on the stock. 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 company presently has a consensus rating of "Hold" and a consensus price target of $60.83.
Get Our Latest Stock Analysis on MC
Moelis & Company Stock Performance
Shares of MC stock traded down $0.68 during mid-day trading on Tuesday, hitting $76.90. The company's stock had a trading volume of 343,390 shares, compared to its average volume of 633,728. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 146.42 and a beta of 1.33. Moelis & Company has a 52-week low of $44.53 and a 52-week high of $81.60. The business has a 50-day moving average price of $70.65 and a 200 day moving average price of $63.89.
Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The business had revenue of $273.76 million for the quarter, compared to analysts' expectations of $273.58 million. During the same quarter in the prior year, the business earned ($0.15) EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.
Moelis & Company Dividend Announcement
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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, November 4th. Moelis & Company's dividend payout ratio (DPR) is presently 452.83%.
Moelis & Company Company Profile
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Free Report)
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.
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