Pitcairn Co. Sells 684 Shares of Moelis & Company (NYSE:MC)

Pitcairn Co. cut its holdings in shares of Moelis & Company (NYSE:MC) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,430 shares of the asset manager’s stock after selling 684 shares during the quarter. Pitcairn Co.’s holdings in Moelis & Company were worth $650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Reston Wealth Management LLC acquired a new position in Moelis & Company in the third quarter valued at about $26,000. UMB Bank n.a. increased its holdings in Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC increased its holdings in Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares during the period. Blue Trust Inc. raised its position in shares of Moelis & Company by 193.0% in the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company during the 3rd quarter worth approximately $75,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

NYSE MC opened at $77.60 on Tuesday. The firm’s fifty day moving average price is $70.46 and its two-hundred day moving average price is $63.72. The stock has a market cap of $5.81 billion, a PE ratio of 146.42 and a beta of 1.33. Moelis & Company has a fifty-two week low of $44.53 and a fifty-two week high of $81.60.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data 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%. Moelis & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS. As a group, sell-side analysts predict that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MC. Wells Fargo & Company began coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Morgan Stanley decreased their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group boosted their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, Moelis & Company currently 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.