Madison Asset Management LLC Trims Position in Moelis & Company $MC

Madison Asset Management LLC decreased its position in shares of Moelis & Company (NYSE:MC) by 0.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,284,261 shares of the asset manager’s stock after selling 11,023 shares during the quarter. Madison Asset Management LLC owned approximately 1.64% of Moelis & Company worth $91,594,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Impact Capital Partners LLC raised its holdings in Moelis & Company by 1.2% during the third quarter. Impact Capital Partners LLC now owns 12,000 shares of the asset manager’s stock valued at $856,000 after acquiring an additional 147 shares during the period. Moran Wealth Management LLC grew its position in shares of Moelis & Company by 0.4% during the third quarter. Moran Wealth Management LLC now owns 37,988 shares of the asset manager’s stock worth $2,709,000 after purchasing an additional 156 shares in the last quarter. Private Trust Co. NA grew its position in shares of Moelis & Company by 44.0% during the third quarter. Private Trust Co. NA now owns 599 shares of the asset manager’s stock worth $43,000 after purchasing an additional 183 shares in the last quarter. Bessemer Group Inc. raised its stake in Moelis & Company by 89.8% during the 3rd quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 184 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Moelis & Company by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock worth $4,310,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

Shares of NYSE MC opened at $72.74 on Wednesday. The stock’s 50-day moving average is $71.99 and its two-hundred day moving average is $70.02. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 0.79 and a beta of 1.87. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $78.57.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, February 4th. The asset manager reported $1.13 EPS for the quarter, topping the consensus estimate of $0.76 by $0.37. Moelis & Company had a net margin of 15.36% and a return on equity of 43.19%. The company had revenue of $487.94 million during the quarter, compared to analysts’ expectations of $430.17 million. During the same quarter in the previous year, the business posted $1.18 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate 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 will be paid on Thursday, March 26th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Moelis & Company’s payout ratio is 88.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MC shares. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods downgraded shares of Moelis & Company from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $78.00 to $80.00 in a report on Tuesday, December 16th. Bank of America began coverage on shares of Moelis & Company in a report on Monday, January 26th. They set a “neutral” rating and a $81.00 price objective for the company. UBS Group raised their price objective on Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.33.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.