Blue Trust Inc. Increases Position in Moelis & Company (NYSE:MC)

Blue Trust Inc. boosted its stake in shares of Moelis & Company (NYSE:MC) by 193.0% during the third quarter, Holdings Channel.com reports. The firm owned 1,081 shares of the asset manager’s stock after purchasing an additional 712 shares during the quarter. Blue Trust Inc.’s holdings in Moelis & Company were worth $74,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trust Point Inc. boosted its holdings in shares of Moelis & Company by 0.8% in the 3rd quarter. Trust Point Inc. now owns 18,976 shares of the asset manager’s stock valued at $1,300,000 after buying an additional 147 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Moelis & Company by 1.4% during the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock worth $788,000 after purchasing an additional 188 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Moelis & Company by 2.7% during the 2nd quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock valued at $409,000 after purchasing an additional 192 shares during the last quarter. UMB Bank n.a. boosted its position 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 worth $28,000 after purchasing an additional 193 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Moelis & Company by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,390 shares of the asset manager’s stock valued at $363,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

NYSE MC opened at $66.87 on Thursday. Moelis & Company has a 1 year low of $39.91 and a 1 year high of $72.80. The company has a market capitalization of $5.00 billion, a PE ratio of -354.89 and a beta of 1.33. The company has a fifty day moving average of $67.66 and a 200 day moving average of $60.96.

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, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The business had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS. Research analysts expect that Moelis & Company will post 0.98 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.59%. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley lowered their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.83.

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.