Moelis & Company (NYSE:MC) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its stake in Moelis & Company (NYSE:MC) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 974,140 shares of the asset manager’s stock after selling 145,292 shares during the period. Lord Abbett & CO. LLC owned 1.30% of Moelis & Company worth $66,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Moelis & Company by 42.9% in the 2nd quarter. SG Americas Securities LLC now owns 6,007 shares of the asset manager’s stock valued at $342,000 after purchasing an additional 1,804 shares during the last quarter. Raymond James & Associates increased its position in Moelis & Company by 2.0% during the second quarter. Raymond James & Associates now owns 370,866 shares of the asset manager’s stock worth $21,087,000 after buying an additional 7,198 shares during the period. &PARTNERS acquired a new position in Moelis & Company during the second quarter worth approximately $517,000. Louisiana State Employees Retirement System lifted its stake in Moelis & Company by 7.3% in the second quarter. Louisiana State Employees Retirement System now owns 35,400 shares of the asset manager’s stock valued at $2,013,000 after buying an additional 2,400 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Moelis & Company by 0.3% in the second quarter. Tributary Capital Management LLC now owns 436,542 shares of the asset manager’s stock valued at $24,822,000 after acquiring an additional 1,159 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of Moelis & Company stock opened at $73.93 on Friday. Moelis & Company has a one year low of $46.24 and a one year high of $81.60. The company has a market cap of $5.54 billion, a P/E ratio of 139.49 and a beta of 1.37. The firm has a fifty day moving average of $72.47 and a two-hundred day moving average of $65.67.

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

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.25%. Moelis & Company’s dividend payout ratio is currently 452.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group lifted their target price 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. Wells Fargo & Company raised their price objective on shares of Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their target price for the company from $66.00 to $92.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and a consensus target price 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.