Verdence Capital Advisors LLC Has $2.31 Million Position in Moelis & Company (NYSE:MC)

Verdence Capital Advisors LLC decreased its position in shares of Moelis & Company (NYSE:MC) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,676 shares of the asset manager’s stock after selling 3,407 shares during the period. Verdence Capital Advisors LLC’s holdings in Moelis & Company were worth $2,307,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MC. UniSuper Management Pty Ltd bought a new stake in shares of Moelis & Company during the first quarter worth $801,000. Lord Abbett & CO. LLC grew its position in Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after acquiring an additional 55,402 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Moelis & Company by 51.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock worth $7,699,000 after acquiring an additional 46,226 shares during the last quarter. Sei Investments Co. increased its holdings in Moelis & Company by 18.2% in the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after purchasing an additional 47,176 shares in the last quarter. Finally, XTX Topco Ltd raised its position in 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 purchasing an additional 12,110 shares during the last quarter. 91.53% of the stock is owned by institutional investors.

Moelis & Company Trading Down 0.3 %

Moelis & Company stock opened at $77.01 on Friday. Moelis & Company has a 1-year low of $40.88 and a 1-year high of $81.60. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 145.30 and a beta of 1.33. The firm has a 50 day simple moving average of $68.35 and a 200 day simple moving average of $61.97.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Moelis & Company will post 0.97 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Analyst Upgrades and Downgrades

MC has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. UBS Group raised their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Morgan Stanley cut their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company began coverage on 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. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.83.

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.