Moelis & Company $MC Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its holdings in Moelis & Company (NYSE:MC) by 64.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,425 shares of the asset manager’s stock after selling 9,950 shares during the quarter. New England Research & Management Inc.’s holdings in Moelis & Company were worth $387,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Moelis & Company by 89.5% during the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 282 shares in the last quarter. eCIO Inc. purchased a new stake in Moelis & Company during the 1st quarter worth approximately $50,000. Canton Hathaway LLC acquired a new position in Moelis & Company during the 2nd quarter valued at approximately $51,000. Neo Ivy Capital Management acquired a new position in Moelis & Company during the 2nd quarter valued at approximately $75,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Moelis & Company by 73.8% in the second quarter. Smartleaf Asset Management LLC now owns 1,602 shares of the asset manager’s stock worth $101,000 after buying an additional 680 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC opened at $69.43 on Tuesday. The stock has a market cap of $5.44 billion, a P/E ratio of 23.22, a P/E/G ratio of 0.74 and a beta of 1.90. The firm has a fifty day moving average price of $65.78 and a 200 day moving average price of $67.30. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The business had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The company’s revenue was up 30.4% compared to the same quarter last year. Equities analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 10th were given a dividend of $0.65 per share. The ex-dividend date was Monday, November 10th. This represents a $2.60 dividend on an annualized basis and a yield of 3.7%. Moelis & Company’s dividend payout ratio is currently 86.96%.

Wall Street Analyst Weigh In

MC has been the topic of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of Moelis & Company in a report on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective on the stock. UBS Group initiated coverage on shares of Moelis & Company in a research report on Thursday, December 11th. They set a “neutral” rating and a $70.00 price target for the company. Morgan Stanley lifted their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Seaport Res Ptn upgraded shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Moelis & Company in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.38.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.