Victory Capital Management Inc. Acquires 35,713 Shares of Moelis & Company (NYSE:MC)

Victory Capital Management Inc. increased its holdings in Moelis & Company (NYSE:MC) by 72.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 85,202 shares of the asset manager’s stock after purchasing an additional 35,713 shares during the period. Victory Capital Management Inc.’s holdings in Moelis & Company were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Moelis & Company by 51.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock valued at $7,699,000 after purchasing an additional 46,226 shares during the period. Sei Investments Co. boosted its holdings in Moelis & Company by 18.2% in the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock valued at $17,392,000 after purchasing an additional 47,176 shares during the period. XTX Topco Ltd boosted 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 purchasing an additional 12,110 shares during the period. Legacy Capital Wealth Partners LLC bought a new position in Moelis & Company in the 3rd quarter valued at $465,000. Finally, Sanctuary Advisors LLC bought a new position in Moelis & Company in the 2nd quarter valued at $554,000. 91.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MC shares. UBS Group raised their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Finally, Morgan Stanley lowered their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

Moelis & Company stock opened at $75.03 on Friday. The firm’s fifty day moving average price is $70.31 and its 200-day moving average price is $63.41. The stock has a market cap of $5.62 billion, a P/E ratio of 141.66 and a beta of 1.33. Moelis & Company has a fifty-two week low of $44.53 and a fifty-two week high of $81.60.

Moelis & Company (NYSE:MC) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. On average, analysts predict that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is presently 452.83%.

Moelis & Company 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.