First Trust Advisors LP cut its holdings in shares of Moelis & Co (NYSE:MC) by 62.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,894 shares of the asset manager’s stock after selling 78,113 shares during the quarter. First Trust Advisors LP owned approximately 0.09% of Moelis & Co worth $2,625,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Amalgamated Bank raised its position in Moelis & Co by 43.1% in the 2nd quarter. Amalgamated Bank now owns 5,959 shares of the asset manager’s stock worth $349,000 after purchasing an additional 1,795 shares during the period. Alps Advisors Inc. bought a new stake in Moelis & Co in the 2nd quarter worth $573,000. Advisory Services Network LLC grew its holdings in Moelis & Co by 429.3% in the 2nd quarter. Advisory Services Network LLC now owns 1,588 shares of the asset manager’s stock worth $101,000 after acquiring an additional 1,288 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Moelis & Co by 57.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,006 shares of the asset manager’s stock worth $880,000 after acquiring an additional 5,480 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in Moelis & Co by 13.2% in the 2nd quarter. Synovus Financial Corp now owns 10,023 shares of the asset manager’s stock worth $588,000 after acquiring an additional 1,171 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.
A number of brokerages have issued reports on MC. Goldman Sachs Group began coverage on shares of Moelis & Co in a report on Tuesday, November 6th. They issued a “buy” rating and a $53.00 price target on the stock. Zacks Investment Research lowered shares of Moelis & Co from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine lowered shares of Moelis & Co from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, UBS Group cut their price target on shares of Moelis & Co from $59.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.14.
Shares of Moelis & Co stock opened at $40.11 on Friday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.04 and a beta of 1.92. Moelis & Co has a 12-month low of $38.75 and a 12-month high of $67.65.
Moelis & Co (NYSE:MC) last announced its quarterly earnings results on Monday, October 22nd. The asset manager reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The firm had revenue of $207.70 million during the quarter, compared to the consensus estimate of $215.19 million. Moelis & Co had a return on equity of 53.14% and a net margin of 9.39%. Moelis & Co’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. On average, equities analysts expect that Moelis & Co will post 2.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Wednesday, October 31st. Moelis & Co’s dividend payout ratio (DPR) is presently 82.10%.
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About Moelis & Co
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
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