Victory Capital Management Inc. lifted its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 72.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,202 shares of the asset manager's stock after purchasing an additional 35,713 shares during the period. Victory Capital Management Inc. owned 0.11% of Moelis & Company worth $5,837,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MC. Reston Wealth Management LLC bought a new stake in Moelis & Company in the third quarter valued at $26,000. UMB Bank n.a. raised its stake in Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock worth $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC boosted its holdings in Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager's stock worth $68,000 after acquiring an additional 534 shares in the last quarter. Blue Trust Inc. grew its stake in 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 during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Moelis & Company in the third quarter valued at approximately $75,000. Institutional investors and hedge funds own 91.53% of the company's stock.
Analyst Upgrades and Downgrades
MC has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 target price on the stock. Morgan Stanley reduced their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Finally, UBS Group upped their target price 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. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $60.83.
Get Our Latest Analysis on Moelis & Company
Moelis & Company Stock Performance
NYSE MC traded up $0.41 during trading hours on Friday, hitting $75.05. The company had a trading volume of 493,673 shares, compared to its average volume of 730,280. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 141.57 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 firm has a 50 day simple moving average of $70.46 and a 200 day simple moving average of $63.57.
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, beating analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Moelis & Company's revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned ($0.15) earnings per share. On average, research analysts forecast that Moelis & Company will post 0.96 earnings per share for the current year.
Moelis & Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.20%. Moelis & Company's payout ratio is currently 452.83%.
About Moelis & Company
(
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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