Moelis & Company (NYSE:MC) Shares Purchased by Fmr LLC

Fmr LLC lifted its stake in Moelis & Company (NYSE:MC) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,127 shares of the asset manager’s stock after purchasing an additional 207 shares during the period. Fmr LLC owned approximately 0.17% of Moelis & Company worth $8,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MC. Kayne Anderson Rudnick Investment Management LLC raised its position in Moelis & Company by 0.7% during 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 acquiring an additional 47,365 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Moelis & Company by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock worth $63,229,000 after acquiring an additional 16,830 shares during the last quarter. Natixis Advisors LLC raised its position in Moelis & Company by 13.7% during the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock worth $55,141,000 after acquiring an additional 96,720 shares during the last quarter. Bank of New York Mellon Corp raised its position in Moelis & Company by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock worth $42,960,000 after acquiring an additional 29,532 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Moelis & Company during the third quarter worth about $49,017,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Moelis & Company stock opened at $74.25 on Thursday. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60. The firm has a 50 day moving average price of $72.19 and a 200 day moving average price of $65.44. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 140.09 and a beta of 1.37.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share 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 analysts’ expectations 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 in the previous year, the company posted ($0.15) earnings per share. Sell-side analysts predict that Moelis & Company will post 0.97 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were given a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.23%. Moelis & Company’s dividend payout ratio (DPR) is 452.83%.

Analysts Set New Price Targets

MC has been the subject of a number of research reports. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $92.00 in a research report on Monday. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. Finally, UBS Group lifted their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.17.

Moelis & Company 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.