Moelis & Company (NYSE:MC) Shares Sold by Jennison Associates LLC

Jennison Associates LLC trimmed its position in Moelis & Company (NYSE:MC) by 5.7% during the third quarter, Holdings Channel.com reports. The firm owned 88,234 shares of the asset manager’s stock after selling 5,289 shares during the period. Jennison Associates LLC’s holdings in Moelis & Company were worth $6,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in Moelis & Company in the third quarter valued at $26,000. UMB Bank n.a. increased its holdings in shares of Moelis & Company by 63.5% in 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 115.8% in 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 last quarter. Blue Trust Inc. lifted its stake in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after purchasing an additional 712 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Moelis & Company during the third quarter worth approximately $75,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Trading Up 0.5 %

Shares of MC opened at $75.03 on Friday. The company’s 50 day simple moving average is $70.31 and its 200-day simple moving average is $63.41. The firm has a market cap of $5.62 billion, a PE ratio of 141.57 and a beta of 1.33. Moelis & Company has a 12-month low of $44.53 and a 12-month high of $81.60.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data 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. The company 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%. Moelis & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS. As a group, equities research analysts forecast that Moelis & Company will post 0.96 EPS for the current fiscal 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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Analysts Set New Price Targets

Several equities analysts have commented on MC shares. Morgan Stanley dropped their price target on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Finally, UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Two 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.com, Moelis & Company currently has an average rating of “Hold” and a consensus target price 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.