Wesbanco Bank Inc. Decreases Position in Moelis & Company (NYSE:MC)

Wesbanco Bank Inc. lessened its stake in Moelis & Company (NYSE:MC) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,709 shares of the asset manager’s stock after selling 1,100 shares during the quarter. Wesbanco Bank Inc.’s holdings in Moelis & Company were worth $643,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MC. Dakota Wealth Management bought a new stake in shares of Moelis & Company in the fourth quarter valued at $256,000. Diversify Wealth Management LLC raised its stake in Moelis & Company by 98.2% in the 4th quarter. Diversify Wealth Management LLC now owns 58,976 shares of the asset manager’s stock valued at $4,213,000 after acquiring an additional 29,220 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Moelis & Company by 2.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 27,881 shares of the asset manager’s stock valued at $2,060,000 after purchasing an additional 626 shares during the last quarter. Heritage Family Offices LLP lifted its holdings in Moelis & Company by 5.0% during the fourth quarter. Heritage Family Offices LLP now owns 4,464 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 213 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Moelis & Company by 7.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager’s stock worth $56,810,000 after purchasing an additional 53,473 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Moelis & Company stock opened at $77.74 on Friday. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $81.60. The stock has a market cap of $5.82 billion, a P/E ratio of 146.68 and a beta of 1.39. The firm’s fifty day moving average price is $74.88 and its 200-day moving average price is $69.58.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) EPS. Sell-side analysts predict that Moelis & Company will post 1.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MC. UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Moelis & Company from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $92.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price objective on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $70.67.

About Moelis & Company

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.