Janney Montgomery Scott LLC Trims Stock Holdings in Moelis & Company (NYSE:MC)

Janney Montgomery Scott LLC lowered its holdings in Moelis & Company (NYSE:MC) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,005 shares of the asset manager’s stock after selling 2,154 shares during the period. Janney Montgomery Scott LLC’s holdings in Moelis & Company were worth $2,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MC. UniSuper Management Pty Ltd acquired a new stake in shares of Moelis & Company during the 1st quarter worth approximately $801,000. Lord Abbett & CO. LLC increased its position in shares of Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after purchasing an additional 55,402 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Moelis & Company by 51.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock valued at $7,699,000 after purchasing an additional 46,226 shares during the period. Sei Investments Co. increased its position in shares of Moelis & Company by 18.2% during the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock valued at $17,392,000 after purchasing an additional 47,176 shares during the period. Finally, XTX Topco Ltd increased its position in shares of Moelis & Company by 274.4% during the 2nd quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock valued at $940,000 after purchasing an additional 12,110 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

Shares of MC opened at $77.98 on Tuesday. The company has a market capitalization of $5.84 billion, a P/E ratio of 147.13 and a beta of 1.33. Moelis & Company has a one year low of $41.18 and a one year high of $81.60. The business’s 50 day simple moving average is $68.58 and its 200-day simple moving average is $62.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data 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 firm had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Moelis & Company’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that Moelis & Company will post 0.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Wells Fargo & Company started coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. UBS Group lifted their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and a consensus price target of $60.83.

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.