Millennium Management LLC Cuts Holdings in Moelis & Company (NYSE:MC)

Millennium Management LLC lessened its stake in Moelis & Company (NYSE:MC - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,187 shares of the asset manager's stock after selling 125,630 shares during the period. Millennium Management LLC owned about 0.15% of Moelis & Company worth $8,362,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its holdings in shares of Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Moelis & Company during the 4th quarter worth $31,000. R Squared Ltd acquired a new stake in Moelis & Company during the 4th quarter worth $47,000. Jones Financial Companies Lllp grew its holdings in Moelis & Company by 148.3% during the 4th quarter. Jones Financial Companies Lllp now owns 822 shares of the asset manager's stock worth $61,000 after acquiring an additional 491 shares during the period. Finally, AlphaQuest LLC acquired a new stake in Moelis & Company during the 4th quarter worth $61,000. Institutional investors own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MC shares. JMP Securities reaffirmed a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $92.00 price target (up from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. The Goldman Sachs Group boosted their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Wall Street Zen cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Moelis & Company presently has a consensus rating of "Hold" and a consensus price target of $59.83.

Moelis & Company Price Performance

Shares of MC stock traded down $1.23 on Wednesday, hitting $57.14. 781,269 shares of the company's stock were exchanged, compared to its average volume of 771,679. The stock has a market cap of $4.49 billion, a P/E ratio of 32.47 and a beta of 1.66. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The company has a 50 day moving average of $55.38 and a 200 day moving average of $67.01.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The firm had revenue of $306.59 million during the quarter, compared to analysts' expectations of $309.67 million. During the same period in the prior year, the company posted $0.22 EPS. The company's revenue was up 41.0% on a year-over-year basis. Sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Monday, May 5th. Moelis & Company's payout ratio is 119.27%.

About Moelis & Company

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.