Bank of New York Mellon Corp Has $56.65 Million Holdings in Moelis & Company $MC

Bank of New York Mellon Corp decreased its holdings in Moelis & Company (NYSE:MC) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 993,897 shares of the asset manager’s stock after selling 10,927 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.28% of Moelis & Company worth $56,652,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC boosted its stake in shares of Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 339 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Moelis & Company during the fourth quarter worth $27,000. Hantz Financial Services Inc. raised its stake in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after buying an additional 163 shares during the last quarter. Allworth Financial LP raised its stake in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after buying an additional 254 shares during the last quarter. Finally, eCIO Inc. acquired a new position in Moelis & Company in the fourth quarter valued at $33,000. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen cut shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Keefe, Bruyette & Woods lowered their price objective on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating for the company in a research report on Friday, July 10th. Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group cut their target price on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Finally, Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $73.38.

Moelis & Company Stock Performance

MC stock opened at $65.63 on Friday. The stock’s 50 day simple moving average is $66.88 and its 200 day simple moving average is $65.56. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The company has a market cap of $5.16 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 0.83 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The firm had revenue of $319.78 million during the quarter, compared to analyst estimates of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. Equities analysts predict that Moelis & Company will post 3.17 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, May 11th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, May 11th. Moelis & Company’s dividend payout ratio (DPR) is 93.53%.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.