Sanctuary Advisors LLC Raises Position in Moelis & Company (NYSE:MC)

Sanctuary Advisors LLC increased its position in shares of Moelis & Company (NYSE:MC) by 25.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,214 shares of the asset manager’s stock after purchasing an additional 2,463 shares during the period. Sanctuary Advisors LLC’s holdings in Moelis & Company were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its position in Moelis & Company by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock worth $408,836,000 after purchasing an additional 47,365 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Moelis & Company by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,590,316 shares of the asset manager’s stock valued at $108,973,000 after acquiring an additional 10,698 shares during the period. Charles Schwab Investment Management Inc. grew its position in Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock worth $63,229,000 after purchasing an additional 16,830 shares during the last quarter. Natixis Advisors LLC increased its position in Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after acquiring an additional 96,720 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Moelis & Company by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 29,532 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC stock opened at $73.81 on Monday. The company’s 50 day moving average price is $73.07 and its two-hundred day moving average price is $66.37. The company has a market capitalization of $5.53 billion, a P/E ratio of 139.26 and a beta of 1.37. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $81.60.

Moelis & Company (NYSE:MC) last posted 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. The company had revenue of $273.76 million during 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%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) EPS. Analysts forecast that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.25%. Moelis & Company’s dividend payout ratio is currently 452.83%.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group lifted their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods upgraded Moelis & Company from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $71.00 to $86.00 in a report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.83.

About Moelis & Company

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.