Pathstone Holdings LLC Decreases Stock Position in Moelis & Company (NYSE:MC)

Pathstone Holdings LLC cut its stake in shares of Moelis & Company (NYSE:MC) by 15.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,715 shares of the asset manager’s stock after selling 7,409 shares during the quarter. Pathstone Holdings LLC’s holdings in Moelis & Company were worth $2,721,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in Moelis & Company in the third quarter valued at approximately $49,017,000. Natixis Advisors LLC raised its holdings in Moelis & Company by 179.2% during the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after buying an additional 454,478 shares during the last quarter. Hsbc Holdings PLC boosted its position in Moelis & Company by 40.7% during the 2nd quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager’s stock valued at $14,113,000 after buying an additional 71,372 shares during the period. Envestnet Asset Management Inc. grew its holdings in Moelis & Company by 27.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock worth $16,690,000 after acquiring an additional 62,444 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Moelis & Company by 0.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock valued at $408,836,000 after acquiring an additional 47,365 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MC has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. UBS Group increased their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley reduced their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Stock Performance

Shares of NYSE:MC opened at $77.60 on Tuesday. Moelis & Company has a 52-week low of $44.53 and a 52-week high of $81.60. The firm has a market capitalization of $5.81 billion, a P/E ratio of 146.60 and a beta of 1.33. The stock has a 50 day moving average price of $70.46 and a 200-day moving average price of $63.72.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) earnings per share. On average, equities analysts forecast that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

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.