Public Sector Pension Investment Board Decreases Holdings in Moelis & Company (NYSE:MC)

Public Sector Pension Investment Board decreased its holdings in shares of Moelis & Company (NYSE:MC) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 149,314 shares of the asset manager’s stock after selling 5,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Moelis & Company were worth $10,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in shares of Moelis & Company during the 3rd quarter valued at $26,000. UMB Bank n.a. grew its position in shares of Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares during the period. GAMMA Investing LLC grew its position in shares of Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares during the period. Blue Trust Inc. grew its position in shares of Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after acquiring an additional 712 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company during the 3rd quarter valued at $75,000. Institutional investors own 91.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MC shares. Wells Fargo & Company started coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. 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. Finally, UBS Group upped their target price 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. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $60.83.

Moelis & Company Stock Performance

Shares of MC stock opened at $75.85 on Friday. Moelis & Company has a 52-week low of $45.45 and a 52-week high of $81.60. The firm has a market capitalization of $5.68 billion, a PE ratio of 143.11 and a beta of 1.33. The stock has a fifty day simple moving average of $71.04 and a two-hundred day simple moving average of $64.21.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. On average, sell-side analysts forecast that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.16%. Moelis & Company’s payout ratio is 452.83%.

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.