Moelis & Company (NYSE:MC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,573 shares of the asset manager's stock after selling 11,617 shares during the period. Bank of New York Mellon Corp owned about 0.85% of Moelis & Company worth $37,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MC. CIBC Private Wealth Group LLC lifted its holdings in Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock worth $30,000 after buying an additional 137 shares in the last quarter. Peak Financial Advisors LLC raised its stake in shares of Moelis & Company by 2.4% during the first quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager's stock valued at $500,000 after acquiring an additional 204 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Moelis & Company by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,394 shares of the asset manager's stock valued at $546,000 after buying an additional 234 shares during the period. Pitcairn Co. increased its position in shares of Moelis & Company by 2.7% during the fourth quarter. Pitcairn Co. now owns 9,687 shares of the asset manager's stock valued at $716,000 after buying an additional 257 shares during the period. Finally, Curated Wealth Partners LLC increased its position in shares of Moelis & Company by 3.5% during the first quarter. Curated Wealth Partners LLC now owns 8,906 shares of the asset manager's stock valued at $520,000 after buying an additional 304 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.

Wall Street Analyst Weigh In

MC has been the subject of several recent research reports. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Wells Fargo & Company increased their target price on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. The Goldman Sachs Group raised their target price on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Moelis & Company has an average rating of "Hold" and a consensus target price of $66.00.

Moelis & Company Stock Performance

Shares of NYSE MC traded up $0.25 during midday trading on Wednesday, hitting $69.78. 202,407 shares of the stock traded hands, compared to its average volume of 809,546. The firm has a market capitalization of $5.48 billion, a P/E ratio of 31.83 and a beta of 1.64. The firm has a 50-day moving average of $60.36 and a two-hundred day moving average of $63.66. Moelis & Company has a one year low of $47.00 and a one year high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $306.59 million for the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a net margin of 13.22% and a return on equity of 40.89%. Moelis & Company's revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period last year, the business earned $0.22 EPS. Equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, May 5th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, May 5th. Moelis & Company's dividend payout ratio is 119.27%.

Moelis & Company Company Profile

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.