Connor Clark & Lunn Investment Management Ltd. Sells 6,764 Shares of Moelis & Company (NYSE:MC)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Moelis & Company (NYSE:MC) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 155,508 shares of the asset manager’s stock after selling 6,764 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Moelis & Company were worth $10,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Trust Point Inc. increased its position in shares of Moelis & Company by 0.8% in the 3rd quarter. Trust Point Inc. now owns 18,976 shares of the asset manager’s stock valued at $1,300,000 after acquiring an additional 147 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Moelis & Company by 1.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager’s stock valued at $946,000 after buying an additional 172 shares in the last quarter. SkyView Investment Advisors LLC grew its position in shares of Moelis & Company by 1.4% in the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock valued at $788,000 after purchasing an additional 188 shares during the period. Bank of Montreal Can boosted its holdings in Moelis & Company by 2.7% in the 2nd quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock worth $409,000 after buying an additional 192 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after purchasing an additional 193 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Trading Up 1.8 %

NYSE MC opened at $74.70 on Friday. The stock has a fifty day simple moving average of $70.10 and a 200-day simple moving average of $63.33. The stock has a market cap of $5.60 billion, a PE ratio of 140.94 and a beta of 1.33. Moelis & Company has a twelve month low of $44.32 and a twelve month high of $81.60.

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. 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 during the quarter, compared to analysts’ expectations of $273.58 million. During the same period last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts predict that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

MC has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group boosted their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Finally, Morgan Stanley cut their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.83.

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.