Fisher Asset Management LLC Has $4.29 Million Holdings in Moelis & Company (NYSE:MC)

Fisher Asset Management LLC increased its position in shares of Moelis & Company (NYSE:MC) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,570 shares of the asset manager’s stock after acquiring an additional 220 shares during the quarter. Fisher Asset Management LLC’s holdings in Moelis & Company were worth $4,287,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in shares of Moelis & Company during the third quarter valued at approximately $26,000. UMB Bank n.a. increased its stake in Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC increased its stake in Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares during the period. Blue Trust Inc. increased its stake in Moelis & Company by 193.0% in the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Moelis & Company in the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Down 1.4 %

Shares of MC opened at $75.85 on Friday. The company’s fifty day moving average is $71.04 and its 200-day moving average is $64.21. Moelis & Company has a 12 month low of $45.45 and a 12 month high of $81.60. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 143.11 and a beta of 1.33.

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

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MC. Morgan Stanley dropped 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 note on Thursday, October 24th. UBS Group upped their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. 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, Moelis & Company presently has a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & 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.