HighTower Advisors LLC Has $61.44 Million Stake in Moelis & Company (NYSE:MC)

HighTower Advisors LLC reduced its stake in shares of Moelis & Company (NYSE:MC) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 896,235 shares of the asset manager’s stock after selling 139,206 shares during the quarter. HighTower Advisors LLC owned about 1.20% of Moelis & Company worth $61,441,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Moelis & Company by 51.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock worth $7,699,000 after purchasing an additional 46,226 shares during the period. Sei Investments Co. raised its holdings in Moelis & Company by 18.2% during the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after buying an additional 47,176 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Moelis & Company in the third quarter valued at approximately $3,433,000. XTX Topco Ltd boosted its holdings in shares of Moelis & Company by 274.4% in the second quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock valued at $940,000 after buying an additional 12,110 shares during the period. Finally, Natixis Advisors LLC increased its position in shares of Moelis & Company by 13.7% during the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock worth $55,141,000 after acquiring an additional 96,720 shares in the last quarter. 91.53% of the stock is owned by institutional investors.

Moelis & Company Stock Down 0.6 %

NYSE:MC opened at $75.37 on Wednesday. Moelis & Company has a twelve month low of $46.24 and a twelve month high of $81.60. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 142.21 and a beta of 1.37. The stock’s 50 day moving average price is $71.39 and its two-hundred day moving average price is $64.75.

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. The business had revenue of $273.76 million for 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 firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) earnings per share. As a group, analysts anticipate that Moelis & Company will post 0.97 earnings per share for the current year.

Moelis & Company Announces Dividend

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 3.18%. Moelis & Company’s payout ratio is 452.83%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MC. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Morgan Stanley dropped their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Finally, 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. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and an average price target of $60.83.

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.