Pier Capital LLC Purchases Shares of 118,989 Moelis & Company (NYSE:MC)

Pier Capital LLC purchased a new position in shares of Moelis & Company (NYSE:MC - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 118,989 shares of the asset manager's stock, valued at approximately $8,152,000. Pier Capital LLC owned approximately 0.16% of Moelis & Company at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new position in Moelis & Company in the third quarter valued at $26,000. UMB Bank n.a. increased its stake in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock valued at $28,000 after purchasing an additional 193 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager's stock valued at $68,000 after acquiring an additional 534 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Moelis & Company by 193.0% in the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager's stock valued at $74,000 after acquiring an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Moelis & Company in the third quarter valued at about $75,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MC has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a report on Thursday, October 24th. UBS Group lifted their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a "sell" rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company initiated coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 target price on the stock. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $60.83.

Moelis & Company Stock Performance

MC stock traded up $0.44 during trading on Friday, reaching $75.69. 361,197 shares of the company were exchanged, compared to its average volume of 591,933. The company has a market cap of $5.67 billion, a P/E ratio of 142.81 and a beta of 1.37. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $81.60. The stock's 50 day moving average price is $71.78 and its 200 day moving average price is $65.13.

Moelis & Company (NYSE:MC - Get Free Report) last released 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 net margin of 4.22% and a return on equity of 12.15%. The firm's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. As a group, equities research analysts forecast that Moelis & Company will post 0.97 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Monday, November 4th. Moelis & Company's dividend payout ratio (DPR) is presently 452.83%.

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.