Moelis & Company (NYSE:MC) is Heard Capital LLC’s 8th Largest Position

Heard Capital LLC reduced its position in shares of Moelis & Company (NYSE:MC) by 16.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,798,360 shares of the asset manager’s stock after selling 352,350 shares during the quarter. Moelis & Company accounts for approximately 6.9% of Heard Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Heard Capital LLC owned approximately 2.40% of Moelis & Company worth $123,206,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Assenagon Asset Management S.A. purchased a new position in Moelis & Company during the 3rd quarter worth approximately $49,017,000. Natixis Advisors LLC raised its holdings in shares of Moelis & Company by 179.2% during the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after purchasing an additional 454,478 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Moelis & Company by 322.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock worth $6,714,000 after acquiring an additional 74,800 shares during the period. Hsbc Holdings PLC boosted its holdings in Moelis & Company by 40.7% during the second quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager’s stock worth $14,113,000 after buying an additional 71,372 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Moelis & Company by 27.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock valued at $16,690,000 after purchasing an additional 62,444 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Trading Down 1.5 %

NYSE:MC opened at $75.81 on Tuesday. The company has a market cap of $5.68 billion, a PE ratio of 143.04 and a beta of 1.37. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The company has a 50 day simple moving average of $71.29 and a two-hundred day simple moving average of $64.62.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share 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 the consensus estimate of $273.58 million. During the same quarter in the prior year, the company earned ($0.15) EPS. Moelis & Company’s quarterly revenue was up .6% on a year-over-year basis. Research analysts forecast that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MC. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. UBS Group raised their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley reduced their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus price target 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.