Moelis & Company (NYSE:MC) Shares Sold by Heard Capital LLC

Heard Capital LLC lessened its stake in Moelis & Company (NYSE:MC) by 16.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,798,360 shares of the asset manager’s stock after selling 352,350 shares during the quarter. Moelis & Company accounts for about 6.9% of Heard Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Heard Capital LLC’s holdings in Moelis & Company were worth $123,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of MC. Reston Wealth Management LLC bought a new stake in shares of Moelis & Company in the 3rd quarter valued at $26,000. UMB Bank n.a. raised its stake 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 purchasing an additional 193 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. lifted its position in 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 acquiring an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Moelis & Company during the 3rd quarter valued at about $75,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MC. Morgan Stanley dropped their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target for the company. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, Moelis & Company currently has an average rating of “Hold” and a consensus price target of $60.83.

Moelis & Company Stock Down 1.5 %

Shares of MC opened at $75.81 on Tuesday. The stock has a market cap of $5.68 billion, a P/E ratio of 143.04 and a beta of 1.37. The business’s fifty day moving average is $71.29 and its 200 day moving average is $64.62. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $81.60.

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, beating the consensus estimate 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 in the previous year, the firm posted ($0.15) EPS. The business’s revenue was up .6% on a year-over-year basis. On average, analysts expect that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, November 4th. Moelis & Company’s dividend payout ratio is presently 452.83%.

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.