Bank of New York Mellon Corp Lowers Position in Moelis & Company $MC

Bank of New York Mellon Corp cut its stake in shares of Moelis & Company (NYSE:MC) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 993,897 shares of the asset manager’s stock after selling 10,927 shares during the period. Bank of New York Mellon Corp’s holdings in Moelis & Company were worth $56,652,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in Moelis & Company by 292.2% in the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after buying an additional 339 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Moelis & Company during the fourth quarter worth $27,000. Hantz Financial Services Inc. boosted its position in Moelis & Company by 64.4% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Moelis & Company by 153.9% in the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after buying an additional 254 shares during the last quarter. Finally, eCIO Inc. purchased a new position in shares of Moelis & Company in the 4th quarter worth about $33,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Down 0.3%

Shares of NYSE:MC opened at $65.63 on Friday. The firm has a market capitalization of $5.16 billion, a PE ratio of 23.61, a P/E/G ratio of 0.83 and a beta of 1.85. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22. The company has a 50-day moving average price of $66.88 and a two-hundred day moving average price of $65.56.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The business had revenue of $319.78 million during the quarter, compared to analysts’ expectations of $321.51 million. During the same quarter in the previous year, the business earned $0.64 EPS. Moelis & Company’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts anticipate that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, May 11th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, May 11th. Moelis & Company’s payout ratio is currently 93.53%.

Analysts Set New Price Targets

MC has been the subject of a number of research analyst reports. UBS Group restated a “sell” rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a report on Wednesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, July 10th. The Goldman Sachs Group lowered their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley dropped their price objective on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, Wall Street Zen lowered Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.38.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.