Geode Capital Management LLC Buys 10,698 Shares of Moelis & Company (NYSE:MC)

Geode Capital Management LLC grew its stake in shares of Moelis & Company (NYSE:MC) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,590,316 shares of the asset manager’s stock after acquiring an additional 10,698 shares during the period. Geode Capital Management LLC’s holdings in Moelis & Company were worth $108,973,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MC. Trust Point Inc. grew its position in Moelis & Company by 0.8% in the 3rd quarter. Trust Point Inc. now owns 18,976 shares of the asset manager’s stock worth $1,300,000 after purchasing an additional 147 shares during the period. OneDigital Investment Advisors LLC boosted its stake in shares of Moelis & Company by 1.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager’s stock worth $946,000 after buying an additional 172 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Moelis & Company by 1.4% in the second quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock worth $788,000 after acquiring an additional 188 shares during the period. Bank of Montreal Can increased its position in Moelis & Company by 2.7% during the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock valued at $409,000 after acquiring an additional 192 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Price Performance

Shares of NYSE MC opened at $70.99 on Thursday. The stock has a market cap of $5.32 billion, a PE ratio of 133.94 and a beta of 1.37. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60. The firm has a fifty day moving average price of $72.80 and a 200-day moving average price of $66.01.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The business had revenue of $273.76 million for the quarter, compared to analysts’ expectations of $273.58 million. During the same period last year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

Wall Street Analysts Forecast Growth

MC has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Moelis & Company from $70.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. UBS Group increased their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $92.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.50.

Moelis & Company 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.