Moelis & Company (NYSE:MC) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its stake in Moelis & Company (NYSE:MC) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,848,073 shares of the asset manager’s stock after selling 733,752 shares during the quarter. Wasatch Advisors LP owned about 3.80% of Moelis & Company worth $195,121,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Moelis & Company by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,766 shares of the asset manager’s stock valued at $2,031,000 after acquiring an additional 2,428 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Moelis & Company in the 1st quarter valued at $256,000. SG Americas Securities LLC raised its stake in shares of Moelis & Company by 42.9% in the 2nd quarter. SG Americas Securities LLC now owns 6,007 shares of the asset manager’s stock valued at $342,000 after acquiring an additional 1,804 shares during the period. Curated Wealth Partners LLC raised its stake in shares of Moelis & Company by 197.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 8,987 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 18,221 shares during the period. Finally, Blue Zone Wealth Advisors LLC raised its stake in shares of Moelis & Company by 2.6% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 58,054 shares of the asset manager’s stock valued at $3,301,000 after acquiring an additional 1,459 shares during the period. 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 research reports. UBS Group raised their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Finally, Morgan Stanley dropped their price target on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average target price of $60.83.

Moelis & Company Stock Performance

MC opened at $77.00 on Friday. The company has a 50-day moving average of $71.18 and a 200-day moving average of $64.36. The company has a market capitalization of $5.77 billion, a P/E ratio of 145.28 and a beta of 1.33. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $81.60.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $273.76 million during 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 company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.15) EPS. As a group, sell-side analysts expect that Moelis & Company will post 0.96 earnings per share 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. Stockholders of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is currently 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.