Moelis & Company $MC Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC lowered its position in shares of Moelis & Company (NYSE:MC) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 1,284,261 shares of the asset manager’s stock after selling 11,023 shares during the quarter. Madison Asset Management LLC’s holdings in Moelis & Company were worth $91,594,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MC. Integrated Wealth Concepts LLC increased its position in Moelis & Company by 9.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager’s stock worth $280,000 after buying an additional 432 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Moelis & Company by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager’s stock worth $2,456,000 after acquiring an additional 1,839 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Moelis & Company in the 1st quarter valued at $264,000. Empowered Funds LLC raised its position in Moelis & Company by 37.6% in the 1st quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager’s stock valued at $2,499,000 after purchasing an additional 11,692 shares during the last quarter. Finally, Truist Financial Corp raised its position in Moelis & Company by 52.0% in the 2nd quarter. Truist Financial Corp now owns 10,018 shares of the asset manager’s stock valued at $624,000 after purchasing an additional 3,429 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America initiated coverage on shares of Moelis & Company in a research report on Monday, January 26th. They set a “neutral” rating and a $81.00 price objective on the stock. Keefe, Bruyette & Woods lowered Moelis & Company from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $78.00 to $80.00 in a report on Tuesday, December 16th. Morgan Stanley boosted their price target on Moelis & Company from $89.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. upped their price objective on Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, UBS Group increased their price objective on Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Moelis & Company presently has a consensus rating of “Hold” and a consensus target price of $76.33.

Moelis & Company Trading Down 0.7%

Shares of MC opened at $72.74 on Wednesday. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $78.57. The stock’s 50 day moving average is $71.99 and its two-hundred day moving average is $70.02. The firm has a market capitalization of $5.70 billion, a PE ratio of 24.74, a P/E/G ratio of 0.79 and a beta of 1.87.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, February 4th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.37. Moelis & Company had a return on equity of 43.19% and a net margin of 15.36%.The business had revenue of $487.94 million during the quarter, compared to the consensus estimate of $430.17 million. During the same period in the prior year, the business posted $1.18 EPS. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.6%. Moelis & Company’s dividend payout ratio is 88.44%.

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.