Moelis & Company $MC Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Moelis & Company (NYSE:MC) by 1.8% in the second quarter, Holdings Channel.com reports. The firm owned 651,332 shares of the asset manager’s stock after acquiring an additional 11,759 shares during the quarter. Bank of New York Mellon Corp’s holdings in Moelis & Company were worth $40,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fulton Bank N.A. increased its stake in shares of Moelis & Company by 2.9% in the 2nd quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager’s stock worth $410,000 after acquiring an additional 188 shares during the last quarter. Choreo LLC raised its stake in Moelis & Company by 5.1% during the first quarter. Choreo LLC now owns 5,075 shares of the asset manager’s stock worth $296,000 after purchasing an additional 244 shares during the period. Peak Financial Advisors LLC boosted its holdings in Moelis & Company by 2.9% in the 2nd quarter. Peak Financial Advisors LLC now owns 8,814 shares of the asset manager’s stock valued at $549,000 after purchasing an additional 247 shares during the last quarter. New England Research & Management Inc. grew its stake in shares of Moelis & Company by 1.7% in the 2nd quarter. New England Research & Management Inc. now owns 15,375 shares of the asset manager’s stock valued at $958,000 after buying an additional 250 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Moelis & Company by 5.8% during the 1st quarter. Xponance Inc. now owns 5,373 shares of the asset manager’s stock worth $314,000 after buying an additional 294 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Trading Up 2.1%

Shares of MC stock opened at $65.28 on Thursday. The firm has a fifty day moving average price of $69.31 and a 200 day moving average price of $65.89. The company has a market cap of $5.11 billion, a P/E ratio of 21.83 and a beta of 1.80. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 47.11% and a net margin of 15.98%.The firm had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. During the same period in the prior year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 30.4% compared to the same quarter last year. On average, equities analysts forecast that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, November 10th. Moelis & Company’s dividend payout ratio is presently 86.96%.

Insider Activity at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,615 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares in the company, valued at $515,544.68. The trade was a 26.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Moelis & Company in a report on Thursday, October 9th. They set a “buy” rating and a $80.00 price target for the company. Seaport Res Ptn raised Moelis & Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. BMO Capital Markets began coverage on shares of Moelis & Company in a research report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 target price on the stock. Finally, Zacks Research lowered shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Moelis & Company presently has a consensus rating of “Hold” and a consensus price target of $71.57.

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.