Mount Yale Investment Advisors LLC Takes $185,000 Position in Moelis & Company (NYSE:MC)

Mount Yale Investment Advisors LLC bought a new position in shares of Moelis & Company (NYSE:MC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,707 shares of the asset manager’s stock, valued at approximately $185,000.

Several other large investors have also recently bought and sold shares of the stock. UniSuper Management Pty Ltd acquired a new position in Moelis & Company in the 1st quarter valued at approximately $801,000. Lord Abbett & CO. LLC raised its stake in shares of Moelis & Company by 5.2% in the first quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after purchasing an additional 55,402 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Moelis & Company by 51.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock worth $7,699,000 after purchasing an additional 46,226 shares during the period. Sei Investments Co. boosted its stake in Moelis & Company by 18.2% during the second quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after buying an additional 47,176 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in Moelis & Company by 274.4% in the 2nd quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock valued at $940,000 after buying an additional 12,110 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MC has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley decreased their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

Moelis & Company stock opened at $67.01 on Tuesday. The business’s fifty day moving average is $67.53 and its two-hundred day moving average is $60.76. The firm has a market cap of $5.01 billion, a P/E ratio of -353.37 and a beta of 1.33. Moelis & Company has a 52 week low of $39.82 and a 52 week high of $72.80.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The company’s revenue was up .6% on a year-over-year basis. On average, equities research analysts predict that Moelis & Company will post 0.98 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Insiders Place Their Bets

In other news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.40% of the company’s stock.

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.