Moelis & Company (NYSE:MC) Shares Sold by AMG National Trust Bank

AMG National Trust Bank trimmed its stake in shares of Moelis & Company (NYSE:MC) by 38.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,280 shares of the asset manager’s stock after selling 9,982 shares during the quarter. AMG National Trust Bank’s holdings in Moelis & Company were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MC. Assenagon Asset Management S.A. bought a new stake in Moelis & Company in the third quarter valued at about $49,017,000. Natixis Advisors LLC boosted its stake in Moelis & Company by 179.2% in the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after purchasing an additional 454,478 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Moelis & Company by 40.7% in the second quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager’s stock valued at $14,113,000 after buying an additional 71,372 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Moelis & Company by 27.0% in the second quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock valued at $16,690,000 after buying an additional 62,444 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in Moelis & Company by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock worth $408,836,000 after buying an additional 47,365 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MC shares. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Morgan Stanley lowered their target price on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. UBS Group lifted their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Finally, Wells Fargo & Company initiated coverage on Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average price target of $60.83.

Moelis & Company Price Performance

MC opened at $73.97 on Wednesday. Moelis & Company has a fifty-two week low of $44.06 and a fifty-two week high of $81.60. The company’s 50-day moving average is $69.67 and its 200 day moving average is $63.10. The firm has a market capitalization of $5.54 billion, a PE ratio of 139.49 and a beta of 1.33.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts expect that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Dividend Announcement

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 paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend 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.