M&T Bank Corp Sells 537 Shares of Moelis & Company (NYSE:MC)

M&T Bank Corp lessened its holdings in shares of Moelis & Company (NYSE:MC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,349 shares of the asset manager’s stock after selling 537 shares during the quarter. M&T Bank Corp’s holdings in Moelis & Company were worth $2,148,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Moelis & Company in the third quarter valued at approximately $49,017,000. Natixis Advisors LLC lifted its position in Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after acquiring an additional 454,478 shares in the last quarter. Pier Capital LLC acquired a new position in Moelis & Company in the 3rd quarter worth $8,152,000. Jacobs Levy Equity Management Inc. acquired a new position in Moelis & Company in the 3rd quarter worth $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Moelis & Company by 322.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock worth $6,714,000 after purchasing an additional 74,800 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Stock Down 1.6 %

MC stock opened at $73.93 on Friday. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 139.49 and a beta of 1.37. Moelis & Company has a twelve month low of $46.24 and a twelve month high of $81.60. The business has a 50 day moving average price of $72.47 and a two-hundred day moving average price of $65.67.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The business had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a $0.60 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.25%. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MC. UBS Group upped their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price target on shares of Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $66.00 to $92.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $66.50.

About Moelis & Company

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.