Bamco Inc. NY Sells 20,561 Shares of Moelis & Company (NYSE:MC)

Bamco Inc. NY lessened its stake in shares of Moelis & Company (NYSE:MC) by 3.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 527,186 shares of the asset manager’s stock after selling 20,561 shares during the quarter. Bamco Inc. NY owned approximately 0.70% of Moelis & Company worth $36,118,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in Moelis & Company in the 3rd quarter valued at approximately $26,000. UMB Bank n.a. increased its position in 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 period. GAMMA Investing LLC raised its stake in shares of Moelis & Company by 115.8% during the third 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 holdings in shares of 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 period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company in the third quarter worth $75,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MC has been the subject of several analyst reports. Wells Fargo & Company started coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Morgan Stanley cut their price objective 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 raised their price target 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 stock. According to data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

Shares of MC opened at $75.81 on Tuesday. The firm has a market cap of $5.68 billion, a PE ratio of 143.04 and a beta of 1.37. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $81.60. The business’s 50 day moving average price is $71.29 and its two-hundred day moving average price is $64.62.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.15) EPS. Research analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Monday, November 4th. Moelis & Company’s payout ratio is 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.